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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
Cuba, Colombia React as US Confirms Military Strikes on Venezuela
Cuba, Colombia React as US Confirms Military Strikes on Venezuela
By: Michael Mike
Cuba and Colombia have issued statements following reports of US military strikes on Venezuela, after multiple explosions were recorded in the capital, Caracas, early Saturday.
Residents reported loud blasts across several parts of the city, alongside sightings of warplanes, helicopters and what appeared to be unmanned aerial vehicles operating overhead. Venezuela’s government described the incident as a “serious military aggression,” alleging that US forces targeted both civilian and military sites in Caracas and in the surrounding states of Miranda, Aragua and La Guaira.
US President Donald Trump later confirmed that American forces carried out the operation, announcing that Venezuelan President Nicolás Maduro and his wife had been captured and flown out of the country.
In a strongly worded response, Cuban President Miguel Díaz-Canel condemned the action, calling on the international community to respond urgently. He described the strike as a criminal act that violated regional peace, accusing Washington of state terrorism against Venezuela and Latin America as a whole.
“Our zone of peace is under brutal assault,” Díaz-Canel said, expressing solidarity with the Venezuelan people.
Colombian President Gustavo Petro took a more measured approach, stating that his government was closely monitoring developments. He expressed concern over the reported explosions and increased aerial activity, warning against further escalation.
“The Colombian government rejects any unilateral military action that could worsen the crisis or endanger civilians,” Petro said.
Former Bolivian President Evo Morales also condemned the strikes, describing them as an imperialist attack that violated Venezuela’s sovereignty. He pledged solidarity with the Venezuelan people, insisting the country was not facing the situation alone.
The developments unfold against the backdrop of longstanding tensions between Washington and Caracas. The Trump administration has repeatedly accused Venezuela’s leadership of involvement in large-scale drug trafficking, claims the Maduro government has dismissed as justification for foreign intervention and regime change.
Cuba, Colombia React as US Confirms Military Strikes on Venezuela
News
Seven killed in Qua’an-Pan as attackers target fellow Christian villagers in Plateau
Seven killed in Qua’an-Pan as attackers target fellow Christian villagers in Plateau
By: Zagazola Makama
At least seven persons were killed late Friday night in Bong village, Doemak District, Qua’an-Pan Local Government Area of Plateau State, in an attack reportedly carried out against fellow Christians residents by criminals operating within the community.
Eyewitnesses said the attackers stormed the community late at night while residents were asleep in an attempt to rustled their livestock.
A native of the area, Mr Lawrence Dogari, said that many villagers were injured in the attack, while some persons were still missing.

“For now, I can confirm that over seven persons have been killed, while several others were injured. Some people are still unaccounted for,” Dogari said.
Confirming the incident, Mr Danaan Cletus Sylvanus, Director of Press and Publicity to the Executive Chairman of Qua’an-Pan Local Government Council, Mr Christopher Audu Manship, said the exact number of casualties was still being verified.
He said the council chairman had condemned the attack and was working closely with security agencies to ensure that the perpetrators were arrested and brought to justice.
“The chairman is deeply saddened by the attack on innocent persons and is collaborating with security operatives to ensure the culprits are brought to book,” Sylvanus said.
Meanwhile, sources at the Plateau State Police Command said the incident was linked to a cattle-rustling attempt carried out by criminal elements operating within the area.
According to a police sources, at about 4:20 a.m. on Jan. 2, unknown armed men invaded Bong/Kook village in Qua’an-Pan LGA and rustled some cows. It said that operatives of the police, military, NSCDC and vigilante groups were mobilised to the area following a distress call.

The sources said that two of the assailants were killed in a bid escape, but later abandoned the rustled cows and fled.
“The rustled cows have been recovered, while the corpses of the deceased were deposited at the Cottage Hospital morgue in Kwalla for autopsy,” the police sources said, adding that additional security deployment had been made to the area.
Notably, preliminary accounts from the community and security sources indicate that the attack was not carried out by Fulani bandits, nor did the rustled livestock belong to Fulani pastoralists, pointing to the indications that the attackers were members of the local community.
Seven killed in Qua’an-Pan as attackers target fellow Christian villagers in Plateau
News
AT KASHIM IBRAHIM UNIVERSITY CONVOCATION CEREMONY IN MAIDUGURI
AT KASHIM IBRAHIM UNIVERSITY CONVOCATION CEREMONY IN MAIDUGURI
No Investment In Education Is A Gamble, Says VP Shettima
…As varsity installs Ooni of Ife as Chancellor
By: Our Reporter
Vice President Kashim Shettima has observed that there is no investment in education that is a gamble, saying the the education sector remains a deliberate commitment to securing a better future for Nigeria.
He described education as the most powerful tool for development, economic empowerment, and societal liberation.
Speaking on Saturday during the combined convocation ceremonies of Kashim Ibrahim University in Borno State, where a total of 2,294 students graduated across three academic sessions (2022/2023, 2023/2024 and 2024/2025), the Vice President said, “No investment in education is ever a gamble. It is a conscious plan for a better, more secure future.”
He urged the graduating students to see themselves as ambassadors of integrity, service, and excellence, noting that their conduct would define the reputation of the institution.

“Wherever life takes you, you carry the name and values of Kashim Ibrahim University. You must shun ethical shortcuts and moral compromise,” he stated.
The Vice President pointed out that Borno State and its government understand the consequences of neglecting education, having endured years of disruption caused by insurgency.
“Borno has paid a heavy price for the years education was disrupted. Yet, the people chose resilience over despair and learning over loss,” he said.
Describing the graduands as pioneers of the university, VP Shettima reminded them that history has placed a special responsibility on their shoulders.
“You are the first torchbearers of this institution. History will judge this university by what you become and how you conduct yourselves,” he added.
He commended the academic and administrative leadership of the institution, including its pioneer Vice-Chancellor, current management, lecturers, and staff, for laying what he termed “a solid foundation for learning in the heart of the North-East.”
The VP praised Borno State Governor, Prof. Babagana Umara Zulum, describing him as “a leader whose vision turned an idea into an enduring institution.”
“This convocation is proof that true leadership measures power by the number of lives it enlightens,” he maintained, just as he applauded the university’s Pro-Chancellor and Chairman of the Governing Council, Alhaji Muhammadu Indimi, for his commitment to the state, even at the height of the Boko Haram insurgency.

“Alhaji Indimi’s wealth has consistently been deployed for the good of society, especially when Borno needed it most,” he added.
Senator Shettima further acknowledged the role of traditional institutions, particularly the Shehu of Borno, even as acknowledged the solidarity shown by North-East governors during the darkest days of insurgency in the region.
In a symbolic gesture, the Vice President announced the donation of two electric vehicles to support the university’s shuttle services, saying “these vehicles are a modest contribution to ease mobility within the campus and support the learning environment”.
Earlier, Governor Zulum of Borno State announced automatic employment for 81 best graduating students of the university, and immediate postgraduate sponsorships within and outside Nigeria.
“Excellence must be rewarded. These young men and women have earned the confidence of the Borno State Government,” Zulum said.
He urged the graduates to step into the world as worthy ambassadors of the institution and agents of development.
The Chancellor of the university, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi II, pledged to work towards the accelerated growth of the institution.
“I accept this responsibility with humility and commitment. I will work tirelessly to advance the development of Kashim Ibrahim University,” the monarch said.
He thanked the Vice President for initiating the establishment of the university and Governor Zulum for finding him worthy of the appointment.
The Vice-Chancellor, Prof. Babagana Gutti, disclosed that the university’s ultra-modern teaching hospital, nearing completion, would be the largest and most equipped in the country.
“When completed, our teaching hospital will stand as a national reference point for medical training and service delivery,” he said.
Prof. Gutti added that the institution, established during Shettima’s tenure as Governor of Borno State, has been ranked the fastest-growing university in Nigeria, noting that over 50 physical projects were completed by the state government.
Highlights of the convocation included the installation of the Ooni of Ife as Chancellor of the university and the conferment of honorary Doctor of Letters degrees on him and international businessman, Alhaji Muhammadu Indimi.
Best graduating students were also awarded MSc and PhD scholarships by Vice President Shettima.
AT KASHIM IBRAHIM UNIVERSITY CONVOCATION CEREMONY IN MAIDUGURI
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