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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
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FACT CHECK UPDATE: Civilians Affected in Silame Airstrikes Contrary to Initial Reports
FACT CHECK UPDATE: Civilians Affected in Silame Airstrikes Contrary to Initial Reports
By Zagazola Makama
Zagazola has revisited its earlier report concerning the airstrikes carried out in Gidan Sama and Rumtuwa, two communities in Silame Local Government Area of Sokoto State, and can now confirm that some civilians were impacted during the operation.
Initial reports from security authorities stated that the airstrikes targeted only hideouts of the Lakurawa terrorist group and did not affect civilians. These accounts, which were based on intelligence and reconnaissance data, highlighted that the targeted locations had been abandoned by their original inhabitants and repurposed as bandit enclaves.
However, further investigations and corroborating video evidence have revealed that the strikes did, unfortunately, affect some civilians in the area. This new information contradicts the earlier narrative provided by authorities and highlights the complexities of operations in areas with mixed civilian and bandit presence.
Zagazola stands firmly for objective journalism and transparency. While we initially reported based on the information available at the time, we have uncovered new facts through additional investigations,” we can clarified.
As events continue to unfold, Zagazola remains dedicated to reporting the truth and ensuring the public is accurately informed.
@DefenceInfoNG
@HQNigerianArmy
@NigAirForce
FACT CHECK UPDATE: Civilians Affected in Silame Airstrikes Contrary to Initial Reports
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COAS SALUTES THE SACRIFICES OF FRONTLINE TROOPS AT CHRISTMAS, PLEDGES IMPROVED WELFARE
COAS SALUTES THE SACRIFICES OF FRONTLINE TROOPS AT CHRISTMAS, PLEDGES IMPROVED WELFARE
By: Our Reporter
The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede has commended troops of the Joint Task Force Operation HADIN KAI, for their gallantry, sacrifice and dedication to duty. The COAS made the commendation during the Christmas luncheon organised for troops in Maiduguri.
Addressing the troops, the COAS noted that the luncheon, which is usually held during major festive seasons, helps to bring troops together in a celebratory atmosphere to appreciate their sacrifices and commitment to duty. He further remarked that the event enables the Army to give troops in the frontlines a semblance of what it would have been if they were back home with their families.
The Army Chief appreciated the troops for their significant contributions in the collective effort to defeat terror networks and other violent extremist groups that seek to undermine the unity, peace, and security of the nation.
General Oluyede charged the troops to work towards the complete defeat of the nation’s adversaries as the nation transits into the year 2025 in order to create the enabling environment for peace, socio-economic development and prosperity of the country.
In line with his Command Philosophy “To consolidate the transformation of the Nigerian Army towards bequeathing a Well-Motivated and Combat-Ready Force that can effectively discharge its constitutional responsibilities within a Joint and Multi-Agency Environment”, the COAS reiterated his commitment to consolidating all ongoing viable welfare schemes and instituting new ones to make the troops proud of their chosen profession and remain committed to duty.
He urged the troops to renew their dedication by gleaning from the lessons of the season in showing love, hope, healing, and renewed vigor. General Oluyede conveyed the commendation of President Bola Ahmed Tinubu and appreciation of Nigerians to all troops fighting in defence of the country.
In his goodwill message, the Governor of Borno State Professor Babagana Umara Zulum commended the troops for their sacrifices in ensuring peace and security in Borno State, the North East zone and the nation at large. The governor, who spoke through the Secretary to the Borno State Government, Dr Bukar Tijani, paid tribute to the troops who paid the supreme price in ensuring peace and security in Borno State. He assured of the Borno State Government’s continued support for the ongoing operations to restore peace and stability in all parts of the state.
In his welcome address, the Theatre Commander, Major General Waidi Shuaibu, remarked that the luncheon fosters camaraderie and provides the opportunity to recount collective achievements and challenges over the past year. He appreciated the COAS for visiting the frontline troops twice in three weeks, noting that it underscores his commitment to raise the morale of troops of Operation HADINKAI Kai. He assured the COAS that the troops will remain steadfast in their resolve to restore normalcy in the North East Region, adding that the troops are highly motivated and committed to achieving the overall mandate of the Joint Task Force.
Demonstrating his commitment for improved welfare of troops, the COAS performed the foundation laying ceremony for the construction of two blocks of 30 family accommodations in Maimalari Cantonment before departing Maiduguri.
COAS SALUTES THE SACRIFICES OF FRONTLINE TROOPS AT CHRISTMAS, PLEDGES IMPROVED WELFARE
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Joint Task Force North West Clarifies Reports on Jet Strike in Sokoto
Joint Task Force North West Clarifies Reports on Jet Strike in Sokoto
By: ABUBAKAR ABDULLAHI
The Joint Task Force North West Operation Fansan Yamma has addressed recent reports concerning a military fighter jet allegedly bombing civilian structures in the Silame Local Government Area of Sokoto State. These reports have raised concerns; however, it is crucial to clarify that all military operations are conducted based on thorough intelligence and reconnaissance missions. This rigorous process is particularly important when targeting groups like the Lakurawa terrorist organization, as it aims to ensure precision and protect civilian lives.
Given the serious nature of these operations, the public is urged to rely on confirmed information to prevent misinformation and unnecessary panic. There is a significant risk that terrorist groups may attempt to undermine military successes through media disinformation, necessitating caution concerning unverified claims, especially in the ongoing fight against terrorism and banditry.
Importantly, the targets struck in the vicinity of Gidan Sama and Rumtuwa have been positively identified as associated with the Lakurawa group, reinforcing the justification for the military action taken.
Joint Task Force North West Clarifies Reports on Jet Strike in Sokoto
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