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
Zulum Approves ₦1 Billion for New Agric University’s Take Off
Zulum Approves ₦1 Billion for New Agric University’s Take Off
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has approved ₦1 billion for the immediate commencement of the Federal University of Agriculture and Entrepreneurship in Bama.
Governor Zulum announced the donation on Monday while receiving an inter-ministerial delegation on an assessment visit to the Government House.
The team included officials from the Federal Ministry of Education, the National Universities Commission, the Budget Office, and the Office of the Head of Service.
The institution was established after a bill sponsored by Senator Kaka Shehu Lawan was signed into law by the President on May 22, 2025.


Governor Zulum had previously handed over the existing Umar Ibn Ibrahim Elkanemi College of Education, Science and Technology in Bama to the federal government to facilitate a quick start of academic activities.
“I want to announce the donation of ₦1 billion for the take off of the University,” Zulum stated. “I hereby direct the Commissioner for Education to facilitate the process and identify the immediate priority areas and gaps to channel the resources.”
He explained the state’s proactive role, saying, “The federal government announced the establishment of the university, but the state has to provide the enabling environment for the immediate take off of the institution.”
“Although the institution belongs to the federal government, the services that would be rendered is for the good people of Borno State,” he added. “For me, every federal institution, especially the tertiary institutions belong to Borno State government.”
The governor also promised to construct staff quarters and provide additional support.
He commended President Bola Tinubu, Vice President Kashim Shettima, sponsor of the bill, Senator Kaka Shehu Lawan, minister of education for ensuring that the university becomes a reality.

Leader of the federal delegation, who is also the Director of University Education at the Federal Ministry of Education, Hajiya Rakiya Gambo Iliyasu, reported that the team was impressed after inspecting the Bama facility.
“Your Excellency, the team went round the institution this morning and what we saw was quite encouraging,” Rakiya said. “We can tell His Excellency that the institution has everything it needs to take off.”
She confirmed that the institution is ready to begin operations and that the team would proceed with staff verification.
The event was attended by the Deputy Governor, Hon. Umar Usman Kadafur; Senator representing Borno Central, Senator Kaka Shehu Lawan, SAN; Member representing Monguno, Marte and Nganzai federal constituency, Hon. Bukar Talba; Acting Chief of Staff, Dr Babagana Malumbe; other members of the State Executive Council as well as Special Advisers.
Zulum Approves ₦1 Billion for New Agric University’s Take Off
News
45 kidnapped victims regain freedom under peace accord in Katsina
45 kidnapped victims regain freedom under peace accord in Katsina
By: Zagazola Makama
Forty-five kidnapped persons have been released from captivity in Bakori Local Government Area of Katsina State following engagements under the Operation Safe Corridor peace accord.
The victims, comprising men and women abducted from Guga in Doguwar Dorawa Fulani settlement camp and Gidan Danmayaki villages, were freed on Monday through a negotiation channel linked to a bandit leader identified as Isiya Kwashen Garwa.
Zagazola Makama report that the victims regained freedom at about 1400hrs and were immediately received by the member representing Bakori Constituency in the Katsina State House of Assembly.
The lawmaker transferred the victims to the Comprehensive Health Centre, Bakori, where medical personnel conducted evaluations to ascertain their physical condition after prolonged captivity.
Authorities said the freed hostages have since been reunited with their families.
Security personnel and community leaders are maintaining close monitoring as part of efforts to consolidate the peace process and prevent further attacks.
45 kidnapped victims regain freedom under peace accord in Katsina
News
Propcom+, Welcome2Africa International target £5 million investments into Nigeria’s agricultural sector
Propcom+, Welcome2Africa International target £5 million investments into Nigeria’s agricultural sector
The UK Government, through its climate-smart agriculture programme, Propcom+ in collaboration with Welcome2Africa International, is spearheading a Strategic Agribusiness Deal Room designed to mobilise private capital into Nigeria’s agricultural value chains while supporting inclusive, market-led economic transformation.
This initiative underscores the UK’s commitment to strengthening agribusiness value chains, fostering sustainable partnerships, and driving inclusive economic growth across Nigeria.
Positioned as a high-impact investment marketplace, the Deal Room, which will be held from November 18 to 19, 2025, in Lagos, is expected to unlock over £5 million in potential investment and trade commitments, featuring more than 20 pre-vetted, investment-ready agribusinesses.
These enterprises operate across priority sectors, including grains, cassava and starch derivatives, livestock, bioethanol, food processing, mechanisation, agri-tech, and renewable energy, all demonstrating clear growth pathways, commercial traction, and scalability.
“The Deal Room represents a strategic opportunity to accelerate private investment into Nigeria’s agrifood sector and deepen the pipeline of climate-smart, inclusive enterprises,” Olumide Ojo, Propcom+’s Strategy Director, noted.
“By connecting high-potential SMEs with investors, we aim to drive capital mobilisation that strengthens market systems, improves resilience, and expands economic opportunities for farmers, women, and rural communities.”
Echoing the investment rationale, Welcome2Africa International CEO, Bamidele Seun Owoola, reinforced the platform’s role in facilitating cross-border capital flows.
“At Welcome2Africa International, our focus is to catalyse sustainable investment into Africa’s agrifood sector. Co-hosting the Deal Room with Propcom+ presents a unique opportunity to position Nigeria’s most promising agribusinesses before global investors. This platform is fundamentally about unlocking capital and forging long-term investment partnerships that deliver shared prosperity.”
The Deal Room forms part of Propcom+’s broader mandate to strengthen Nigeria’s agricultural markets, empower SMEs, and drive low-carbon, climate-smart growth. Following the event, Propcom+ will continue to support participating enterprises through technical assistance, investor engagement, due diligence, and transaction facilitation, advancing businesses toward investment closure.
Propcom+, Welcome2Africa International target £5 million investments into Nigeria’s agricultural sector
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