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Home Ownership would be Elusive to Majority Without Single Digit Financing, Says REDAN

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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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Nigeria, EU Strengthen Strategic Alliance with New Investments, Security and Climate Cooperation

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Nigeria, EU Strengthen Strategic Alliance with New Investments, Security and Climate Cooperation

By: Michael Mike

Nigeria and the European Union have reaffirmed their strategic partnership and announced new areas of cooperation spanning trade, security, climate action, digital transformation and development investments following the Eighth Nigeria–EU Ministerial Dialogue held in Abuja.

The high-level meeting was co-chaired by Nigeria’s Minister of Foreign Affairs, Yusuf Maitama Tuggar, and the EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas.

In a joint communiqué issued after the dialogue, both sides described the meeting as an important opportunity to consolidate longstanding relations built on friendship, mutual respect and shared values, particularly at a time of global geopolitical uncertainty.

They reaffirmed their commitment to expanding cooperation in ways that deliver tangible benefits to citizens while contributing to a more stable, prosperous and sustainable international order.

Nigeria and the EU reiterated their support for multilateral cooperation, democracy, human rights and the rule of law, stressing the need to protect fundamental freedoms including gender equality, freedom of expression, freedom of religion and protection against discrimination.

The EU also reaffirmed its support for reforming the United Nations Security Council to make it more inclusive, transparent and representative, particularly by strengthening the voice of African countries.

Both parties expressed support for peaceful resolutions to conflicts around the world, including in Ukraine, the Middle East, Sudan, South Sudan, Democratic Republic of the Congo, the Sahel and Somalia, emphasizing the importance of respecting international law, sovereignty and territorial integrity.

Both sides reaffirmed their commitment to implementing the Paris Agreement on Climate Change and advancing climate action through stronger cooperation on renewable energy and energy transition.

Discussions highlighted Nigeria’s strong potential for solar, wind and clean hydrogen energy, with both partners agreeing to enhance investments and collaboration in these sectors.

They also pledged to strengthen climate resilience and adaptation efforts for vulnerable communities, particularly those affected by environmental pressures in the Lake Chad Basin.

On Regional Security and West Africa, the

EU acknowledged Nigeria’s critical leadership role in promoting democracy, peace and stability in West Africa. Both sides agreed to strengthen cooperation on regional security challenges, particularly threats emanating from the Sahel.

The dialogue also emphasized deeper collaboration in counter-terrorism, intelligence sharing, capacity building and efforts to prevent terrorism financing, while supporting regional mechanisms such as the Economic Community of West African States security architecture.

On Trade and Investment Relations, the

EU remains Nigeria’s largest trading and investment partner, with Nigeria benefiting from preferential access to European markets under the Generalised Scheme of Preferences (GSP).

Both sides welcomed progress following the first Nigeria–EU Senior Officials’ Trade and Investment Dialogue held in Abuja in September 2025, which aims to facilitate trade, diversify exports and attract new investments.

They also discussed the importance of implementing Rules of Origin under the GSP framework and welcomed Nigeria’s progress toward adopting legislation on Geographical Indications, which could help protect and promote Nigerian products internationally.

Looking ahead, both parties confirmed that the 10th Nigeria–EU Business Forum will take place in Lagos on June 25, 2026.

A major highlight of the dialogue was the EU’s continued investment in Nigeria through the Global Gateway strategy, which supports sustainable infrastructure, digital transformation and economic development.

In 2025 alone, the EU committed €73 million in grants for projects including digital infrastructure, democracy support and the fight against gender-based violence.

In addition, €555 million in loans from the European Investment Bank were mobilised to support small and medium enterprises in sectors such as healthcare, digital services and agri-food value chains.

One flagship initiative highlighted was the Omi-Eko electric waterways transportation project in Lagos, which received €361 million in funding from the EU, the European Investment Bank and France under the Team Europe approach.

New initiatives announced during the meeting include €50 million in European Investment Bank financing to support healthcare manufacturing, €85 million for agricultural value chains focused on dairy and cocoa, and €108 million for a nationwide fibre-optic expansion project to strengthen Nigeria’s digital infrastructure.

Both sides also welcomed the launch of negotiations toward a Nigeria–EU Science, Technology and Innovation Agreement, which will expand research collaboration under the EU’s Horizon Europe programme.

Educational cooperation is also expanding through Erasmus+ and the Intra-African Mobility Scheme, with Nigeria ranking first in Africa for the number of students receiving Erasmus Mundus joint master’s scholarships.

In the digital sector, both partners agreed to deepen cooperation under the EU–Nigeria Digital Economy Package, focusing on digital infrastructure, cybersecurity, e-governance, data exchange, space technologies and digital entrepreneurship.

Both sides agreed to continue holding annual ministerial dialogues, with the ninth Nigeria–EU Ministerial Dialogue scheduled to take place in Brussels in 2027.

The EU delegation also expressed appreciation to the Nigerian government for hosting the meeting and reaffirmed its commitment to strengthening the strategic partnership with Nigeria across political, economic and technological sectors.

Nigeria, EU Strengthen Strategic Alliance with New Investments, Security and Climate Cooperation

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ECOWAS, AU Push Green Ports Agenda to Cut Maritime Emissions in Africa

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ECOWAS, AU Push Green Ports Agenda to Cut Maritime Emissions in Africa

By: Michael Mike

The Economic Community of West African States (ECOWAS) and the African Union have stepped up efforts to drive Africa’s transition to sustainable maritime systems, convening a high-level continental workshop in Abuja to align strategies on green ports development and maritime decarbonization.

The two-day Continental Validation Workshop on Green Ports Guidelines and Maritime Greenhouse Gas Emissions Reduction brought together senior policymakers, maritime institutions and technical experts from across Africa at the ECOWAS headquarters to deliberate on the implementation of the Revised African Maritime Transport Charter and strengthen the continent’s response to climate challenges in the maritime sector.

Opening the session, ECOWAS Director of Transport Chris Appiah stressed the need for Africa’s maritime industry to adapt to global sustainability trends without compromising trade efficiency and development priorities.

“Efficiency, operational capacity and trade facilitation must remain at the core of Africa’s response, even as the continent advances towards greener maritime systems,” he said while speaking on behalf of the President of the ECOWAS Commission, Omar Alieu Touray.

Appiah reaffirmed ECOWAS’ commitment to strengthening maritime governance, upgrading port infrastructure and supporting member states in building resilient and competitive transport systems.

From the continental perspective, the Head of Maritime Transport at the African Union Commission, Raissa‑Julie Ada Allogo, called for stronger coordination among African countries to ensure the continent speaks with one voice in global maritime negotiations.

“This is the time for Africa to speak with one voice to ensure that the transition towards decarbonization remains inclusive, realistic and aligned with the capacities of our Member States,” she said.

Allogo highlighted the importance of the Revised African Maritime Transport Charter, describing it as a key instrument for modernising maritime governance and strengthening cooperation across African maritime institutions.

Regional maritime organisations also weighed in on the discussions. The Secretary-General of the Maritime Organisation of West and Central Africa (MOWCA), Paul Adalikwu, said green port development should be seen not only as an environmental necessity but also as a strategic investment that could enhance efficiency and competitiveness across African ports.

Similarly, the Secretary-General of the Maritime Organisation for Eastern, Southern and Northern Africa (MOESNA), Kassim Kaziba Mpaata, urged African countries to strengthen maritime capacity in order to reduce dependency on external systems and better withstand global disruptions.

Adding a regulatory perspective, the Secretary-General of the Abuja Memorandum of Understanding on Port State Control, Sunday M. Umoren, stressed that adherence to international maritime standards is critical to maintaining Africa’s role in global shipping networks and avoiding higher operational costs.

Development partners also reaffirmed support for the initiative. Speaking on behalf of the German Agency for International Cooperation (GIZ), Bekele Essete Abebe described ports as the backbone of global supply chains and emphasised that investments in sustainable and resilient port infrastructure are essential for Africa’s economic transformation.

“Ports remain the backbone of global supply chains, and investing in sustainable and resilient port infrastructure is central to Africa’s economic transformation and climate response,” she said.

Technical sessions during the workshop focused on validating a Handbook and Guidelines on Green Ports in Africa, developed through consultations across member states. The framework identifies priority actions including renewable energy integration, electrification of port operations, digitalisation, emissions monitoring, climate resilience and adoption of cleaner fuels.

Experts noted that the transition to green ports should be viewed not simply as an environmental initiative but as a broader economic and operational transformation that can improve efficiency, strengthen trade competitiveness and enhance resilience across African maritime systems.

The workshop continued with working sessions aimed at consolidating member states’ inputs and developing a coordinated roadmap for implementing the guidelines across the continent.

Officials said the outcome of the meeting is expected to strengthen Africa’s maritime governance framework, improve port performance and position the continent as a proactive actor in the global shift toward sustainable and decarbonised maritime transport.

ECOWAS, AU Push Green Ports Agenda to Cut Maritime Emissions in Africa

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ECOWAS Deploys Long-Term Election Observers to Benin Ahead of Presidential Poll

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ECOWAS Deploys Long-Term Election Observers to Benin Ahead of Presidential Poll

By: Michael Mike

The Economic Community of West African States (ECOWAS) has deployed a Long-Term Election Observation Mission (LTEOM) to the Benin ahead of the country’s presidential election scheduled for April 12, 2026, as part of efforts to support a credible and peaceful electoral process.

The deployment was authorised by the President of the ECOWAS Commission, Omar Alieu Touray, in line with regional legal instruments guiding democratic governance and election monitoring within the West African bloc.

According to a statement issued by ECOWAS’ Directorate of Communication in Abuja, 15 election experts drawn from ECOWAS member states will remain in Benin from March 22 to April 18, 2026, observing key phases of the electoral process before, during and after the vote.

The observers possess expertise in constitutional law, diplomacy, electoral operations, political affairs, media, conflict prevention, gender and inclusion, and security, enabling them to conduct a comprehensive assessment of the electoral environment.

ECOWAS said the long-term observers will monitor developments across all regions of Benin, providing early analysis and recommendations aimed at preventing tensions and strengthening public confidence in the electoral process.

“Their analyses will serve as early-warning and rapid-response mechanisms to help prevent and manage any conflict linked to the elections,” the regional body said.

As part of the mission’s operational structure, ECOWAS will establish a situation room to track political and security developments nationwide and provide daily updates to the ECOWAS Commission. The mechanism will also support coordination ahead of the deployment of a Short-Term Election Observation Mission, which is expected to include about 100 observers closer to election day.

The mission is being deployed in line with key regional instruments including the 1993 Revised ECOWAS Treaty, the 1999 Mechanism for Conflict Prevention, Management and Resolution, and the 2001 Additional Protocol on Democracy and Good Governance, which guide the bloc’s role in supporting democratic processes across West Africa.

ECOWAS noted that the long-term observation mission follows a pre-election fact-finding mission that visited Benin from January 7 to 17, 2026, where delegates engaged government officials, political parties, civil society organisations and the country’s electoral management body, the Autonomous National Electoral Commission of Benin (CENA).

The findings of that mission were submitted to the ECOWAS Commission to guide preparations for the broader observation effort.

By deploying the mission, ECOWAS said it was reaffirming its commitment to supporting transparent, credible and peaceful elections in Benin while promoting democracy, good governance, peace and stability across West Africa.

Founded in 1975, the Economic Community of West African States is a regional bloc of 12 member states, working to promote economic integration, political stability and development across the region. The organisation also plays a key role in election observation, mediation and conflict prevention as part of its mandate to safeguard democratic governance in West Africa

ECOWAS Deploys Long-Term Election Observers to Benin Ahead of Presidential Poll

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