As Nigeria’s banking sector undergoes crucial changes through transformative recapitalisation, the chief executive officer (CEO), of Manroe Realty Limited, a visionary real estate company, Dr. John Edumoh has said the process will reshape various sectors of the economy including increased access to finance for real estate development.
Dr. Edumoh while responding to questions from journalists in Abuja, reiterated that banks across Nigeria, due to recapitalisation, are strengthening their capital bases to meet new regulatory requirements as well as enhancing their financial stability, and lending capacity.
The real estate developer, who described this crucial change, driven by the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) to have profound positive impacts on the Nigerian real estate sector by creating a fertile ground for companies like his to grow, also stressed that as banks bolster their capital adequacy ratios, they can extend more substantial loans and credit facilities to the real estate sector.
In his understanding, the recapitalisation is also set to enhance Nigeria’s appeal to foreign investors, adding that a stable and well-capitalised banking sector restores investor confidence and makes the country a more attractive destination for international capital.
“Foreign investment brings not only capital but also international standards and expertise. This can elevate the quality and innovation in our projects, making Nigerian real estate competitive on a global scale.”
“Manroe Realty is keenly aware of the importance of infrastructure in real estate development. The enhanced financial capacity of banks, thanks to recapitalization, is expected to support large-scale infrastructure projects across the country. Improved infrastructure, such as roads, power, and water supply, directly benefits real estate by increasing property values and making locations more attractive.”
“The strengthened banking sector also means expanded mortgage financing options. For Manroe Realty, this is a new vista. Increased availability and affordability of mortgages will make homeownership accessible to more Nigerians, driving demand for residential properties.
As more Nigerians gain access to mortgage financing, we can cater to a growing market of aspiring homeowners”, he emphasised.
Furthermore, he said recapitalised banks are well-positioned to support public-private partnerships (PPPs) in real estate and infrastructure adding that these collaborations are vital for addressing the housing deficit and improving urban infrastructure.
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