Connect with us

News

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

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

KACRAN Calls for Increased Funding for Northeast Development

Published

on

KACRAN Calls for Increased Funding for Northeast Development

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has commended the North East Development Commission (NEDC) for demonstrating transparency and accountability following its recently concluded month-long inspection of development projects across the Northeast region.

In a statement released by KACRAN National President Hon. Khalil Mohammed Bello, the association described the inspection exercise as a strong indicator of responsible public administration, noting that comprehensive project verification remains a key test of accountability in public service delivery.

KACRAN stated that the NEDC’s decision to conduct high-level inspections of both ongoing and completed projects reflects a commitment to ensuring that public funds are translated into tangible developmental outcomes for citizens in the region.

The association further praised what it described as the “boldness and confidence” displayed by the Commission during the inspection tour, saying it signals that projects executed by the agency meet required standards and represent value for money.

Of particular interest to KACRAN members are the Commission’s investments in water infrastructure and livestock support projects aimed at improving pastoral livelihoods across the Northeast.

The association noted that such initiatives are critical to sustaining the livestock sector and supporting pastoral communities, while also aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes livestock development, food security, and economic diversification.

KACRAN said strengthening livestock production could help reduce Nigeria’s reliance on imported dairy and meat products while positioning the country as a potential exporter of livestock products in the long term.

The group also commended the composition of the NEDC inspection team, which included the Commission’s Governing Board Chairman, Managing Director, and senior directors from finance, operations, and humanitarian affairs. KACRAN said the inclusion of senior management personnel and media representatives during the nearly 30-day inspection tour demonstrates transparency and accountability in governance.

The inspection covered several development sectors including road infrastructure, drainage systems, primary healthcare facilities, educational projects, water points for livestock, and distribution of humanitarian relief materials to internally displaced persons (IDPs).

KACRAN described the NEDC as a model of sincerity and dedication in Nigeria’s public sector, praising the Commission’s efforts toward the rehabilitation and economic recovery of the Northeast region.

The association, however, called on President Bola Ahmed Tinubu to ensure timely and adequate funding for the NEDC to enable the Commission to sustain its development and humanitarian programs.

It stressed that increased funding would strengthen infrastructure development, livestock productivity, peace-building efforts, and humanitarian interventions across the Northeast.

KACRAN Calls for Increased Funding for Northeast Development

Continue Reading

News

Lawmaker Backs Local Solar Manufacturing, Caution Against Immediate Import Ban

Published

on

Lawmaker Backs Local Solar Manufacturing, Caution Against Immediate Import Ban

By: Michael Mike

The National Assembly is considering a range of legislative and policy measures to strengthen local production of solar panels and renewable energy components in Nigeria, as part of broader efforts to tackle energy poverty and reduce installation costs nationwide.

The Deputy Chairman, House Committee on Environment, House of Representatives, Hon. Terseer Ugbor speaking at the Solar Power Nigeria’s National Stakeholders Engagement with theme: “Accelerating Nigeria’s Clean Energy”, said parliament is reviewing key issues affecting the sector, particularly the development of local manufacturing capacity for solar panels, batteries, and other renewable energy components.

According to him, expanding domestic production is critical to lowering the entry cost of solar energy systems for homes, schools, hospitals, and businesses—especially in rural communities where access to electricity remains limited.

“We are looking at how to polish policies around the renewable energy sector and support local manufacturers. If we can advance local production, we can reduce installation costs and expand access to solar power across Nigeria,” he said.

The lawmaker acknowledged concerns that encouraging local production could initially lead to higher prices compared to imported solar panels, particularly those produced at large scale in Asia.

“It is true that imported panels can sometimes be cheaper because countries like China produce at massive scale and export globally,” he noted.

However, he argued that through structured technology transfer and gradual capacity building, Nigeria can develop local manufacturing or at least assembly plants that create jobs and add value within the country.

Rather than immediate full-scale manufacturing, he suggested beginning with local assembly of components, which would stimulate employment, build technical expertise, and strengthen the country’s renewable energy ecosystem.

“Nigeria is already spending billions annually on solar imports. That level of demand is enough to sustain several local manufacturing and assembly plants,” he said.

He stressed that local production would not only reduce long-term dependence on foreign suppliers but also promote economic growth and sector sustainability.

“It is always better to manufacture or assemble components close to where they are installed. That strengthens the economy and ensures long-term sustainability.”

On calls by some stakeholders for a complete ban on solar panel imports, the lawmaker urged caution.

While he did not dismiss the idea outright, he emphasized that any ban must be preceded by a clear assessment of Nigeria’s readiness and production capacity.

“A ban is not entirely a bad concept, but it must be considered within the context of our preparedness. Do we have enough local capacity to meet demand? That is the key question,” he said.

He suggested that instead of an outright prohibition, Nigeria could adopt a phased transition strategy—such as imposing tariffs or import duties on foreign solar products—to give local manufacturers room to compete.

Countries with established large-scale production capabilities, he noted, can produce millions of panels at significantly lower costs, making it difficult for emerging Nigerian firms to compete without policy support.

According to him, a phased approach combining trade measures, investment incentives, and capacity development would allow Nigeria to gradually shift toward local production without jeopardizing affordability for rural communities.

“We must protect affordability while building local industry. A gradual transition, supported by smart trade policies and incentives, is better than an abrupt ban,” he said.

The lawmaker said that strengthening Nigeria’s solar manufacturing base would drive job creation, promote technology transfer, and enhance energy security over the long term.

“We cannot continue to depend entirely on foreign manufacturers. Building local capacity is essential if we want sustainable and affordable renewable energy across Nigeria.”

The Nigeria Country Lead, Global Strategic Communication Council, Daniel Oladoja pushed for evidence-based energy reforms have cautioned against an immediate ban on solar panel imports, arguing that policy decisions must be guided by data rather than sentiment.

He explained that the aim of the study was to introduce credible data into the national debate over local manufacturing and import restrictions.

“What we set out to do with this report is to bring evidence into the conversation,” a policy advocate said. “Anyone can say a ban is good or a ban is bad, but that is sentiment. When it comes to serious policymaking, you must rely on data.”

One of the report’s key findings is that more than 80 percent of Nigerians surveyed do not support a ban on solar panel imports.

“If government says it listens to the people, then it must pay attention to what the people are saying,” the advocate noted.

The report argues that while energy sovereignty and industrialization are legitimate national goals, policymakers must weigh these ambitions against affordability and access — especially in a country battling widespread energy poverty.

He said beyond public sentiment, the report highlights a significant cost disparity between imported solar systems and locally produced alternatives.

According to him, locally manufactured systems are approximately 16 percent more expensive than imported equivalents.

With the average functional household solar system costing around ₦2 million, that 16 percent difference translates to nearly ₦250,000 — a substantial amount for most Nigerian families.

“That margin is enough to discourage adoption,” the advocate explained. “When you’re talking about rural households, small businesses, or schools trying to install solar, ₦250,000 is not a minor difference.”

He said the report stresses that the debate over banning solar imports is not purely economic but also social, adding that a sudden restriction could slow the spread of renewable energy, particularly in underserved rural areas where solar systems are often the most viable electricity option.

“This is not just about industry. It’s about access to power. It’s about livelihoods. It’s about small businesses and healthcare facilities that depend on affordable solar solutions.”

Rather than an abrupt prohibition, stakeholders are recommending a structured five-to-ten-year transition plan.

They warned against repeating policy approaches seen in other sectors, where sudden border closures or bans disrupted markets without adequate local capacity in place.

“Don’t just wake up one morning and shut the borders,” the advocate said. “Have a clear strategic roadmap — build local capacity gradually, encourage assembly, incentivize manufacturers, and then phase down imports in a predictable way.”

Such a phased strategy, they argued, would protect affordability while allowing Nigeria to strengthen domestic production capacity over time.

The overarching message from the report is that policymaking must balance industrial growth with consumer welfare, guided by evidence, cost analysis, and public opinion.

“We are not opposing industrialization. We are saying: let’s do it strategically. Let’s use the numbers. Let’s use public sentiment. Let’s plan properly.”

As Nigeria pushes toward energy security and renewable expansion, the report concludes that careful sequencing — not abrupt restrictions — will determine whether local solar manufacturing becomes a catalyst for growth or a barrier to access.

On his part, the Executive Director, Global Initiative for Food Swcurity and Ecosystem Preservation (GIFSEP), Micheal David said locally manufactured solar systems currently cost about 16 percent more than imported alternatives.

He said: “With an average household solar system costing roughly ₦2 million, that 16 percent difference can mean about ₦250,000 extra,” said an energy market analyst. “For rural households, that difference is enough to delay adoption.”

He noted that: “This is not just an industrial discussion. It is about healthcare facilities, small businesses, and families who depend on solar just to keep basic lights on.”

Stakeholders argued that Nigeria’s fastest path to universal electricity access lies in scaling up distributed renewable energy rather than relying exclusively on large utility-scale solar projects.

“The future for Nigeria is decentralized energy,” said a renewable energy consultant. “Mini-grids and rooftop solar are more realistic for rural electrification than trying to reach extremely high utility solar targets within a short period.”

Lawmaker Backs Local Solar Manufacturing, Caution Against Immediate Import Ban

Continue Reading

News

Suspect arrested for attempting to kill boy in Katsina over juju ritual

Published

on

Suspect arrested for attempting to kill boy in Katsina over juju ritual

By: Zagazola Makama

The Katsina Police Command has arrested a 20-year-old man for allegedly attempting to kill a 10-year-old boy in a ritual-related attack.

According to sources, on Feb. 22 at about 7:30 p.m., Aliyu Ashabu of Kuidawa Village, a self-styled native doctor popularly known as “Boka,” lured Alhassan Usman into a nearby bush and pushed him into a well. The boy was later rescued on Feb. 23 by a Good Samaritan and taken to the General Hospital Katsina with varying degrees of injuries.

During the investigation, the suspect was traced, arrested, and reportedly confessed to the offense, claiming he was preparing charms for one Khalid, who is still at large.

The case remains under investigation for culpable homicide, unlawful juju, and cultism.

Suspect arrested for attempting to kill boy in Katsina over juju ritual

Continue Reading

Trending

Verified by MonsterInsights