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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
One killed, three injured as gunmen attack farmers in Plateau

One killed, three injured as gunmen attack farmers in Plateau
By: Zagazola Makama
The Plateau State Police Command has confirmed the death of one person and injuries to three others following an attack by suspected Fulani militias on Kopmur village, Mushere District, Bokkos Local Government Area.
Zagazola Makama gathered that the incident occurred on Oct. 22 at about 4:00 p.m., when the armed assailants stormed a house where some local farmers had taken shelter and opened fire.
The attack led to the death of Dashan Mwanar, 42, while Sonma Mwanar, 32, Kyenkyes Dakup, 26, and Joy Vumshak, 25, sustained varying degrees of injuries.
The Divisional Police Officer (DPO), Bokkos Division, led a team to the scene, where the injured victims were rescued and taken to the hospital for treatment.
The police said the deceased’s remains had been released to his relatives for burial after the family declined an autopsy.
Meanwhile, sources assured that investigation is ongoing, with intensified efforts to apprehend the culprits and prevent further attacks in the area.
One killed, three injured as gunmen attack farmers in Plateau
News
FCT Police, vigilantes comb bushes to rescue abducted school principal, daughter in Abuja

FCT Police, vigilantes comb bushes to rescue abducted school principal, daughter in Abuja
By: Zagazola Makama
The Federal Capital Territory (FCT) Police Command has intensified search and rescue operations following the abduction of a school principal and his daughter in Abaji Area Council of the FCT.
Zagazola Makama gathered that the incident occurred on Oct. 22, 2025, at about 3:00 a.m., when a group of armed kidnappers invaded the residence of Mr. Zakari Yelwa, Principal of Narati Government Secondary School, located opposite the Technical College, Abaji.
The assailants reportedly forced open the door to the residence and abducted Mr. Yelwa and his daughter, Hafsat Zakari, to an unknown destination.
Upon receipt of the distress call, a combined team of police operatives, the Anti-Kidnapping Unit, vigilante groups, and local hunters was immediately deployed to the scene.
The team has since launched a coordinated search operation, combing the surrounding bushes and hills in a bid to rescue the victims and apprehend the kidnappers.
Police authorities assured residents of Abaji that all efforts are being made to ensure the safe rescue of the victims and urged the public to report any useful information that could aid the ongoing operation.
FCT Police, vigilantes comb bushes to rescue abducted school principal, daughter in Abuja
News
Soldier found dead after chasing attacker in Kwara

Soldier found dead after chasing attacker in Kwara
By: Zagazola Makama
A Nigerian Army personnel has been found dead after pursuing an assailant in Twatagi village, Patigi Local Government Area of the state.
Zagazola Makama gathered that the incident occurred on Oct. 21, 2025, around 5:30 p.m., when the deceased soldier, Private Usman Alhaji attached to Apapa, Lagos, was riding on a motorcycle with one Muhammad Baba, a native of Twatagi village.
While on their way to Patigi town, they encountered a man walking along the road with a stick, who suddenly struck them as they passed by. The man immediately fled into the bush.
The sources stated that Private Alhaji pursued the assailant on foot but failed to return. After waiting for hours without seeing him, Muhammad Baba reportedly searched the area but could not locate the soldier.
However, at about 2:00 p.m. the following day, villagers discovered the lifeless body of the soldier in the bush.
Police operatives visited the scene and observed that the victim sustained a stab wound to the neck.
The body was released to the family for burial in accordance with Islamic rites, while efforts are ongoing to identify and apprehend the perpetrator.
Soldier found dead after chasing attacker in Kwara
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