News
Home Ownership would be Elusive to Majority Without Single Digit Financing, Says REDAN
Home Ownership would be Elusive to Majority Without Single Digit Financing, Says REDAN
By: Michael Mike
The Real Estate Developers Association of Nigeria (REDAN) has said that home ownership would continue to be elusive to majority of Nigerians without a single digit financing opportunity.
Speaking at the Capacity Development Conference for Developers in Abuja, the President of the Real Estate Developers Association of Nigeria (REDAN), Alhaji Aliyu Wamakko said in order to achieve government housing plan for Nigeria, interest on loan for building purpose should be drastically lower to a single digit.
He said: “Finance is one of the essentials of our business, hence our focus on how to get facility to build homes at cost that the average Nigerian will be able to afford. We are keen on how our Members can secure long tenured and single digit debt financing without which home ownership will remain elusive, as it is a fact that real estate development is capital intensive and requires a lot of outlay.
He noted that the conference is aimed at capacity development for our REDAN members and has as theme: “Enhancing Investment and Finance Opportunities for Sustainable Real Estate Projects.”
Wamakko said: “The essence of this auspicious event is to further build the knowledge base of our members to be able to manage the multidimensional and multidisciplinary challenges involved in real estate business. It is also to increase our capacity to reduce waste and ensure timely delivery of projects. The knowledge from this conference will greatly help in reducing the incidence of building collapse as there is a specific session for the subtheme.”
He said: “We are concerned that our members comply with all extant laws and be ambassadors of improving and contributing to the growth of the national economy, hence we have invited relevant regulatory organisations to update members on Real Estate Developers Role in the emerging economy.”
Presenting a paper: “Who We Are! Building Collapse Prevention Guild,” the President of Building Collapse Prevention Guild, Yusuf Sulaimon, said the action of Lagos State Ministry of Physical Planning and Urban Development of introducing the Certified Accreditors Programme to increase manpower and increase professionalism in ensuring compliance to building regulations by developers and to help identify buildings that needs to be decommissioned before they end up collapsing, should be copied by other states to end instances of building collapse.
He also advised that REDAN should also create a monitoring team to monitor construction activities and ensure compliance with government regulations, the Standard Organisation of Nigeria (SON) needs to be proactive in ensuring that only quality building materials are in the market, each LCDA should have Building Artisans training Centers to equip the Artisans with requisite knowledge required.
Sulaimon also said the Building Code and Regulations should be amended to include civil punishment to those that flout the building code flagrantly, regular review and update of the building code and regulations to ensure that it is up to standard and best practices, corruption in the building plan approval processing should be frown upon such that developers build according to the plans approved by government.
He said the whistle blowers should be protected and ensure their reports are worked upon and rewarded, if possible, proper planning, supervision and monitoring of construction activities should be institutionalized by policy makers to ensure that all buildings are constructed according to design, specifications, and planning regulations, professionals in the building industry should maintain their integrity and professional ethics and work in accordance with standard practice procedures laid down by the standard form of building contracts especially when they play in the hands of ignorant clients.
Sulaimon equally said urban or town development agencies at various levels of government (Commission, Board, Authority) should enforce control of building works in their localities as laid down in urban and regional planning decree 88, of 1992 and as in section 13 of National Building Code 2006, there is need to organize periodic public awareness campaign through electronic and print media to sensitize the public on advantages of using professionals as the way of realizing safe buildings, and that all building professionals play key roles to actualize their respective obligations during building production, using the wrong professionals at any stage of the building process put the building in danger. It is the duty of the architect as the prime consultant to direct the client to use the right professionals. This he achieves by ensuring that the structural and services drawings brought to his office are stamped and signed by professionals registered by their respective professional bodies before proceeding to planning authority for “building permit”.
He added that soil investigation, material tests and environmental impact assessment (E.I.A) should be made compulsories for all institutional, industrial and commercial buildings.
Home Ownership would be Elusive to Majority Without Single Digit Financing, Says REDAN
News
NDLEA intercepts cocaine hidden in stockfish heads, arrests 80-year-old suspect, others nationwide
NDLEA intercepts cocaine hidden in stockfish heads, arrests 80-year-old suspect, others nationwide
By: Zagazola Makama
The National Drug Law Enforcement Agency (NDLEA) says it has intercepted a large consignment of cocaine concealed in imported dry stockfish heads and arrested a key member of an international drug trafficking syndicate operating across several countries, including India.

The Director, Media and Advocacy, NDLEA Headquarters, Abuja, Mr Femi Babafemi, disclosed this in a statement on Sunday.
Babafemi said the seizure followed credible intelligence on trans-border criminal activities, which led to a coordinated sting operation by operatives of the Murtala Muhammed International Airport (MMIA) Strategic Command at Ojo area of Lagos on March 19.

He said the operatives recovered 237 wraps of cocaine, weighing 5.80 kilograms, concealed inside stockfish heads locally known as “okporoko,” in three jumbo bags allegedly in possession of a 36-year-old suspect identified as Akputa Dickson Ejike.
According to him, the consignment was destined for Delhi, India.

Babafemi further stated that in a separate operation on March 25, NDLEA operatives at a courier company in Lagos intercepted two illicit consignments heading to the United Kingdom.
He said one of the consignments contained 1.9 kilograms of methamphetamine concealed in automobile filters, while the second contained 40 ampoules of morphine sulphate and nine ampoules of fentanyl.
The NDLEA spokesperson added that operatives of the agency also arrested a suspected female drug baron, Omolade Abigail Jolayemi, 46, popularly known as “Iya Ghana,” during a raid at her residence in Yaba, Lagos, where 135 blocks of Ghana Loud, weighing 76.30 kilograms, were recovered.

He said another suspect, Anayo Lucky Ohabiro, 39, was arrested in Surulere, Lagos, with 78 blocks of the same substance weighing 41 kilograms.
Babafemi disclosed that in Ekiti State, an 80-year-old suspect, Oke Samuel, was arrested during a special raid at Erinmo road, Efon-Alaaye, with 2.2 kilograms of skunk and methamphetamine, while another suspect was arrested in Ondo State with 894.72 kilograms of skunk recovered from an uncompleted building.
He said further operations in Benue, Edo and Taraba States led to multiple seizures, including skunk, codeine-based syrup, and cannabis concealed in animal feed, with several suspects arrested.

Babafemi added that the War Against Drug Abuse (WADA) advocacy campaign also continued nationwide with sensitisation lectures in schools across Cross River, Adamawa, Oyo, Kano and Lagos States.
He commended NDLEA officers across the affected commands for the successful operations, reaffirming the agency’s commitment to balancing drug supply reduction with drug demand reduction efforts.
NDLEA intercepts cocaine hidden in stockfish heads, arrests 80-year-old suspect, others nationwide
News
Troops recover over 300 rustled livestock after clash between bandit factions
Troops recover over 300 rustled livestock after clash between bandit factions
By: Zagazola Makama
Troops of Operation FANSAN TANMA have recovered more than 300 rustled livestock following a confrontation involving rival bandit factions operating between Katsina and Kano states.
Sources said the development followed intelligence on movements of a faction loyal to a bandit leader identified as Muhammadu Filatan, allegedly heading towards Kano State after a clash with a rival group linked to Aleiro in Zamfara State.
The source disclosed that troops of 3 Brigade, deployed at Forward Operating Bases in Tsaure, Yanchibi, Yankwada and Lakwaya, conducted fighting patrols along the riverine boundary between Katsina and Kano states to intercept the fleeing group.
“At about 4:00 p.m., troops at FOB Tsaure made contact with armed bandits at the Gulbi–Goron Dutse axis in Shanono Local Government Area of Kano State, who were moving with a large herd of rustled livestock,” the source said.
He added that troops engaged the bandits in a firefight, forcing them to abandon the animals and flee towards Gidan Gora village in Musawa Local Government Area of Katsina State.
“Following the encounter, troops recovered a total of 120 cows, 200 sheep, 39 goats and three donkeys,” he said.
According to the source, the recovered livestock were subsequently handed over to authorities in Shanono Local Government Area.
Troops recover over 300 rustled livestock after clash between bandit factions
News
Troops intercept vehicle, recover 850 litres of fuel in Yobe
Troops intercept vehicle, recover 850 litres of fuel in Yobe
By: Zagazola Makama
Troops of Operation Hadin Kai have intercepted a vehicle conveying suspected illegally supplied fuel and recovered large quantities of Premium Motor Spirit (PMS) in Karasuwa Local Government Area of Yobe State.
Sources said the operation was carried out at about 11:38 p.m. on March 27 by troops of 241 Battalion deployed at Forward Operating Base (FOB) Jajimaji.
The source disclosed that the troops acted on credible intelligence regarding suspected illicit activities by some filling stations in the area.
“During the night patrol, troops intercepted a vehicle along the Karasuwa–Jajiri road, but the driver abandoned the vehicle and fled on sighting the troops,” the source said.
He added that a search of the vehicle led to the discovery of 34 jerrycans of PMS, each containing 25 litres, amounting to about 850 litres.
According to him, troops immediately exploited the surrounding area in an attempt to apprehend the fleeing driver, but the effort was unsuccessful.
The source said the recovered items are in military custody, while efforts are ongoing to identify the filling stations allegedly involved and arrest those responsible.
Troops intercept vehicle, recover 850 litres of fuel in Yobe
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