Real estate sector hit yet to recover from economic recession, says developer

Chief Executive Officer, Omais Investments Nigeria Limited, Mr. Omochiere Aisagbonhi says governments at all levels should be sympathetic to the cause of real estate sector, adding that it is one of the few sectors worse hit by the recession that is yet to recover.

Omais boss who disclosed that his company’s staff strength has been reduced to less than 10 per cent, said that in advanced countries, governments would give tax holidays to business owners for them to survive during periods of recession.

Aisagbonhi said, “In situations like these, what governments do is to keep people like us afloat so that those we have engaged their services will remain employed. But our government is not like that. In advanced countries, they give tax holidays to businesses in a situation like we have in Nigeria, but here in Nigeria, the government will compound your problems the more. For instance, in Lagos State where I do business, I have been paying all manners of tax for 15 years.

Government is not about tax alone; government is also about creating friendly business environment that will pave way for business growth.

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