Mr. Kehinde Ogundimu, the CEO of Nigeria Mortgage Refinance Company (NMRC), delivered an impassioned call for a data-driven revolution in Nigeria’s housing market, emphasizing the paramount importance of reliable data to transform the sector.
In his recent address at the Africa International Housing Show, in Abuja, Mr. Kehinde Ogundimu, the CEO of Nigeria Mortgage Refinance Company (NMRC), urged the nation’s housing sector to embrace a data-driven approach to revolutionize the industry. Speaking with fervor, he highlighted the critical role of reliable data in shaping informed decisions, sustainable progress, and innovative solutions for the ever-evolving real estate landscape.
The CEO began by underscoring the indispensable connection between data and emerging technologies such as Machine Learning and Artificial Intelligence, emphasizing how data serves as the driving force behind transformative advancements. He asserted that in today’s world, data has become a valuable currency, shaping the future of industries and economies alike.
With a strong commitment to data excellence, NMRC holds data as the linchpin to unlock vital insights and address pressing needs. Mr. Ogundimu stressed the importance of understanding the adequacy of housing production in correlation with population growth and job creation. This fundamental knowledge, he argued, forms the bedrock for charting a sustainable path forward.
An equally crucial aspect emphasized by the CEO was the need for comprehensive information on housing characteristics, including age, household numbers, and the distribution of diverse house types. Additionally, identifying flood-prone areas and addressing other essential factors could help fortify communities against potential challenges.
Amidst NMRC’s dedication to data excellence, Mr. Ogundimu expressed deep concern for those in need, urging the identification of suitable housing options to offer necessary assistance and support. Understanding neighborhood variations, especially in regions experiencing gentrification, destabilization, or decline, holds the key to fostering inclusive housing solutions. The CEO further highlighted the distinct housing requirements of older adults compared to younger individuals, underscoring the importance of catering to diverse demographic needs.
NMRC’s data-driven approach has already borne fruit through impactful collaborations with various stakeholders. The establishment of the Housing Information Portal, a dynamic platform providing crucial housing insights to the public, demonstrates the company’s commitment to accessibility and innovation in data dissemination. Furthermore, NMRC actively collaborates with PropTech companies, leveraging their interfaces to enhance information access and exchange.
As the nation propels towards a real estate data revolution, NMRC remains at the forefront, engaging with stakeholders in the Nigeria Real Estate Data Collation Program. This groundbreaking initiative seeks to build a robust data ecosystem, empowering industry stakeholders with actionable insights and fostering greater synergy.
In closing, Mr. Kehinde Ogundimu’s fervent call for a data-driven revolution echoes with the promise of transformative progress in Nigeria’s housing market. With NMRC’s unwavering commitment to data excellence, the sector embarks on a path of inclusivity, innovation, and sustained growth, shaping a brighter future for the nation’s real estate endeavors.