By Akhigbe Dominic.M.
MON, JAUNUARY 16 2017-In Economic Recession, citizens run from pillar to pole. Ingenious Economic strategies sometimes fail. It appears as if everything goes haywire. Prices soar and capacity to purchase dwindle. This is a most confusing stage in every Nation’s life. However, in the middle of this melee, there are some investment windows that tend to be full proof. The benefit from any economic situation, real Estate is one of such. Home ownership is the dream of everyone. This dream becomes more pronounced each time your annual rent is ticking out and the harsh reality of another rent payment stares you in the face. You are then left to ruminate in the aspiration of personal home ownership which is expected to emancipate you from the grip of (sometimes shylock) landlords who have over the years devised neck-gripping tactics of managing their various Properties. Not even the various Tenancy Legislation by states have served as enough deterrents to emasculate some of these sharp practices. As my friend and colleague would say always; head or tail, when the chips are down, the Landlord wins! Today, I won’t dwell much on this as the business of the day needs as much energy.
No doubt there is a global economic crunch. It is also no news that the Nigerian Economy is even in a deeper state of instability called RECESSION. This has aptly incapacitated the citizens’ ability to deliver in most fundamental responsibilities to their dependents. The situation is even more frustrating as it appears the current government has not been able to effectively martial a water tight economic plan to paddle the Economy out of this troubled ocean. Instead; various government Agencies and appointees have kept on inundating helpless Nigerians with the obvious reasons that got us down this very unsavoury economic state without equally advancing strategies that are sure to reverse the ugly trend. It was widely reported of late that in a forum, the President; General Buhari had to scream to high heavens that he is not Lai Muhammad. An obvious pointer to the fact that the Commander-in-Chief himself is beginning to get uncomfortable with the very comical ways the ‘Masquerade-enterprise’ advocacy minister handles the Information Ministry and the statement summersault of the baba. Again, this still is not the crux of today. Just that we can’t really have a good comprehension of the Matter for consideration if a mention is not made of some of these dramatic personae that have rather deepen our loss of faith in the system than otherwise.
Before the advent of this so much talked about Economic Recession, Home Ownership was not a tea-party. It was a huge economic burden to embark on Housing projects. Those who were involved either were doing so at the expense of the basic family comfort or were able to smartly augment their income sources to so achieve the insurmountable task of building their houses of choices. Landlords knew this and they didn’t spare a moment in cashing into this to manage their various properties.
At this time of Economic Recession, when even average Nigerians can hardly afford the least basic needs for their families; Housing ownership has become a mission impossible for the common man except one avails himself of very sterling information that are supportive of realizing such ambition of Home ownership. However, since Housing is a necessity and not a luxury to man, it is therefore not an option not to own one or at least live in one. It is important to note that; deciding against all odds to own one even at this challenging time is a decision that must be made by everyone who has a basic understanding of elementary accounting. This is where investing in Real Estate is the best decision to make!
Lets keep the conversation on next week.
Akhigbe Dominic.M. Esq., /Property Law Expert/CEO, H.I.E Properties & Homes Ltd/SENIOR STRATEGIC PARTNER, PropertyLogic Incorporated/Seasoned Business Coach/Columnist of The BusinessDay/Contributing Editor, govandbusinessjournal.com.ng
