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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
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
By: Our Reporter
Former Head of State, Yakubu Gowon, has revealed that the refusal of the United States and the United Kingdom to supply arms to Nigeria during the civil war forced his administration to seek military support from the Soviet Union and a Lebanese black market arms dealer.
According to Gowon, the unexpected alliances proved decisive in changing the course of the war, which lasted from July 1967 to January 1970.
The disclosure is contained in Chapter Fifteen of his 859 page autobiography, My Life of Duty and Allegiance, unveiled in Abuja on Tuesday. President Bola Tinubu was represented at the launch by Vice President Kashim Shettima.
In the chapter titled If The Devil’s Ready To Help, Gowon recounted the intense struggle his government faced in sourcing weapons as Nigeria’s ammunition reserves dwindled dangerously by late 1968. He revealed that the country’s stockpile had dropped to about half a million rounds for the entire Army, an amount he considered grossly inadequate for sustained military operations.
He explained that international restrictions on arms sales prevented Nigeria from replenishing its military supplies, despite the escalating demands of the conflict.
“As the weeks of fighting wore on, our stock of ammunition was steadily depleted, and we could not replenish them because international sales restrictions prevented suppliers from selling military hardware to Nigeria,” Gowon wrote.
The former military leader added that the shortage forced him to halt further military advances after the capture of Enugu, restricting federal troops to positions around Okigwe and Umuahia.
“Left with no choice, I ordered the Federal troops to hold their position because I could not, in clear conscience, commit them to further advance knowing that the ammunition to sustain the effort was in short supply,” he stated.
Gowon also expressed disappointment with the stance of Western powers, particularly at a time when the United States was heavily involved militarily in Vietnam and Cambodia.
He recalled holding what he described as one of the most significant meetings of the war with the British and American ambassadors, hoping to secure support for Nigeria’s military efforts.
“If I say I’m not disappointed, it will be an understatement,” he said while recounting the encounter.
Gowon noted that he reminded the diplomats of his responsibility to preserve Nigeria’s unity and protect all citizens and foreign nationals living in the country.
He further recalled telling them before their departure from the State House that he would seek assistance from anywhere necessary to defend the nation.
“I will go to any devil to get what I need to deal with the problem and do my duty to my country,” he said.
According to Gowon, both ambassadors left the meeting without making any commitment, but by then, he had already resolved to pursue alternative sources of military support.
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
News
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
By: Michael Mike
The Community Court of Justice, ECOWAS is hosting the second edition of its annual Moot Court Competition in Dakar, bringing together law students, academics and legal practitioners from across West Africa in a regional initiative aimed at strengthening legal education and deepening understanding of Community law.
The three-day competition, scheduled for May 20 to 22, 2026, is part of the Court’s broader drive to promote awareness of its jurisdiction and jurisprudence while equipping the next generation of lawyers with practical advocacy, research and analytical skills.
Organised under the theme, “Today’s Students, Tomorrow’s Jurists,” the competition is expected to provide participants with hands-on exposure to simulated legal proceedings, enabling them to bridge the gap between classroom learning and real-world legal practice.
This year’s edition will feature eight universities from francophone ECOWAS member states, including Benin, Côte d’Ivoire, Guinea, Senegal and Togo, while students from a university in Cape Verde will participate as observers. Each institution will field a team made up of two students and a faculty adviser.
The competition is structured in two phases — written and oral. During the written stage, participating teams prepare memorials for both the applicant and respondent based on a hypothetical legal dispute rooted in issues falling within the jurisdiction of the ECOWAS Court. The top-performing teams from the written assessments advance to the oral rounds.
The oral phase in Dakar will feature preliminary and semi-final rounds before designated panels, culminating in a grand finale where the two best teams will argue before a distinguished panel of judges. The event will end with an awards and closing ceremony recognising outstanding teams and participants, while a cultural tour is scheduled for May 23.
The maiden edition of the competition, held in Abuja in 2025, attracted participation from 13 Nigerian universities at the memorial stage, with eight advancing to the oral rounds. Ahmadu Bello University emerged overall winner of the inaugural edition.
Senior government officials from Senegal, members of the Senegalese judiciary and bar association, academics, media representatives, partner organisations and invited guests are expected to attend this year’s competition alongside judges and staff of the ECOWAS Court.
The Court said the initiative reflects its continued commitment to promoting legal excellence, strengthening access to justice and advancing human rights within the West African sub-region.
According to the Court, the programme is also designed to foster stronger institutional ties between the judiciary and academic institutions while nurturing a new generation of lawyers with deeper knowledge of Community law and regional integration mechanisms.
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
News
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
By: Michael Mike
The Federal Government of Nigeria has launched an ambitious Net Zero Investment Plan (NZIP), a major policy framework designed to mobilise climate finance, accelerate sustainable economic growth, and strengthen the country’s pathway to net zero emissions by 2060.
The plan, unveiled in Abuja by the National Council on Climate Change, represents a significant step in Nigeria’s efforts to translate its climate commitments into concrete investment opportunities capable of attracting both domestic and international financing.
Developed under the NDC Partnership’s “Global Call for NDCs 3.0 and LT-LEDS,” the framework received technical support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and funding from the German Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety through the International Climate Initiative.
The NZIP is expected to serve as a strategic roadmap for implementing Nigeria’s long-term climate agenda by identifying priority sectors for investment, outlining financing needs, and proposing mechanisms to bridge existing climate finance gaps.
Government officials said the initiative aligns with Nigeria’s broader economic transformation agenda and reinforces the country’s aspiration to emerge as a leading climate-responsive economy in Africa in line with the African Union Agenda 2063.
The investment framework builds on key national policies, including the Nigeria Agenda 2050, the Nationally Determined Contributions (NDCs), and the Long-Term Low-Emission Development Strategy (LT-LEDS), all of which provide the policy backbone for Nigeria’s transition toward sustainable and climate-resilient growth.
Under the LT-LEDS framework, Nigeria targets net zero greenhouse gas emissions by 2060, while the NDCs outline short- and medium-term actions under the Paris Agreement.
Speaking at the launch, Country Director of GIZ, Markus Wagner, described the NZIP as a critical instrument for transforming climate goals into bankable projects capable of attracting large-scale investment.
According to him, the framework goes beyond policy declarations by providing a structured mechanism for mobilising public and private capital toward climate resilience, low-carbon industrialisation, and sustainable economic development.
Wagner noted that achieving net zero emissions would require strong collaboration among government institutions, development partners, financial organisations, and the private sector.
He said the plan demonstrates Nigeria’s determination to align climate action with economic development priorities while creating opportunities for innovation, green jobs, and long-term sustainable growth across strategic sectors of the economy.
Analysts say the launch of the NZIP could improve investor confidence in Nigeria’s green economy ambitions and position the country to access increasing pools of global climate finance targeted at low-carbon and climate-resilient development initiatives.
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
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