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
Atiku urges action to tackle out-of-school children in Nigeria
Atiku urges action to tackle out-of-school children in Nigeria
Alhaji Atiku Abubakar Former Vice President of Nigeria has urged everyone to focus attention on the state of the nation’s education to secure a better future for young people in the country.
Atiku who is the founder, American University of Nigeria, AUN made the call at commemoration of the 17th Annual Founders day 2025 in Yola.
He said “Our beloved country, poised with a youth population that boasts enormous promise, faces staggering challenges that threaten to undermine our most precious asset, our children.
“Currently, millions of children remain out of school, and among those who do enrol, many find themselves disillusioned, trapped in an outdated paradigm that fails to prepare them for the demands of an increasingly complex and competitive world.”
According to him, the classroom experience, already compromised, muddied by overcrowded facilities, lack of resources, and educators who are under-supported.
He added that this dire educational reality is not just an unfortunate circumstance; it poses a profound threat not only on the lives of the youths, but also on the society
“The statistics are sobering; Nigeria holds the regrettable title of having the largest population of out-of-school children in the world.
“How is it that in a country rich in resources, cultural heritage knowledge and a myriad of talents, we find ourselves with such a dismal record?
“Every unattended classroom symbolizes a child with unfulfilled potential, a dream put on hold, and a talent that will remain dormant”, he said.
Atiku further said that If we do not act now to revitalize the educational system, “we doom an entire generation to lives devoid of opportunity, creativity, and the freedom to dream”.
In his address, Prof DeWayne Frazier, President of AUN said, over the years, the institutions has grown from its humble beginnings into a dynamic community that embodies the values of excellence, integrity, and service.
He said, they have educated leaders who are shaping industries, driving change, and transforming communities, not only in Nigeria but across the globe.
“Our mission has always been clear: to provide a world-class education rooted in critical thinking, innovation, and a commitment to sustainable development.
“Today, as we celebrate our continued journey fulfilling that mission, we take pride in the milestones we have achieved: innovative program, pioneering research and community impact”, he said.
According to him, beyond the achievements, what truly sets them apart is their community.
“AUN is not just a university; it is a family. A family bound by shared values, mutual respect, and a commitment to making a difference”, he said.
Atiku urges action to tackle out-of-school children in Nigeria
News
Two policemen killed, three missing as Bandits ambush tactical team in Bauchi
Two policemen killed, three missing as Bandits ambush tactical team in Bauchi
By: Zagazola Makama
Two police personnel have been killed, three declared missing and two others injured after suspected Fulani herdsmen ambushed a police tactical team in Sabon Sara village, Darazo Local Government Area of Bauchi State.
Sources told Zagazola Makama that the attack occurred on Nov. 22 at about 12:48 p.m. when the operatives were on an intelligence-led patrol in the area, which has recorded persistent farmer-herder conflicts.
The tactical team, drawn from Mobile Police Squadron 10 (Mopol 10), the Anti-Kidnapping Unit, and the State Intelligence Department (SID), was ambushed by yet-to-be-identified herders who opened fire on them.
“DSP Ahmad Muhammad of SID and Inspector Amarhel Yunusa of Mopol 10 were confirmed dead at the scene,” the source said.
The sources added that ASP Mustapha Muhammad and Inspector Idris Ahmed, both of Mopol 10, as well as Corporal Isah Muazu of the Anti-Kidnapping Unit, were declared missing after the attack.
According to the sources, Inspector Isah Musa and Inspector Yusuf Gambo, both of the State Intelligence Department, sustained injuries and were evacuated to the General Hospital, Darazo for treatment.
The sources said that the Commissioner of Police has ordered the deployment of additional tactical units to reinforce the Darazo Division and intensify efforts to trace the missing personnel and apprehend the attackers.
Two policemen killed, three missing as Bandits ambush tactical team in Bauchi
News
Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara
Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara
By: Zagazola Makama
The Zamfara Police Command has rescued 25 abducted persons, including 10 women and 15 children, following a coordinated response to a bandit attack on Kuraje village in Damba area of Gusau Local Government Area.
A source told Zagazola Makama on Sunday that the incident occurred on Nov. 21 at about 9:45 p.m., when armed bandits in large numbers invaded the community, shooting sporadically before abducting the victims.
According to the source, the Divisional Police Officer (DPO) of Damba Division, working alongside operatives from the Department of Operations Gusau and Community Protection Guards (CPG), immediately mobilised to the scene after receiving the distress report.
“The joint police teams engaged the bandits in a gun battle and successfully rescued all the abducted women and children,” the source said.
He added that the rescued victims were taken to Sabongari Damba for safety and were expected to be reunited with their families on Sunday morning.
The police assured that efforts were ongoing to track fleeing bandits and enhance security around vulnerable communities in the area.
Further developments are expected as operations continue.
Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara
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