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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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Calm returns to Pulka after Wednesday night attack on the town

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Calm returns to Pulka after Wednesday night attack on the town

By: Bodunrin Kayode

Residents of Pulka who ran to the bush yesterday night have returned home even as the troops of the Nigerian military repelled attempts by insurgents from sacking the town.

The insurgents too residents hinted did not leave without injecting their trade marks on the base of the military in the community leaving about three soldiers dead.

A source who wanted anonymity said that she had to run out of her house with her neighbors at about ten pm wednesday evening into the thick savannah to hide so that they are not attacked, killed or abducted when the criminals entered the community.

“We were all relaxing in our homes when the sounds of gun fire rented the air. Not knowing what to do we locked our doors and waited indoors while praying that the worse should not happen to us residents.

” Towards 10.30 pm the artillery blasts became intensified. Then suddenly, we heard the voices of soldiers telling us to run away into the bush showing us the safe direction to go into the dark while they stayed back to face the criminals.

” We stayed in the bush untill around 1 am when word reached one of our neighbors that the coast was clear to return to base. So by two am some of us were back into our residences trying to survive as usual.

” Nobody could sleep in the bush regardless of our tiredness which we were going through. We came back only to hear that the base of our military protectors was sacked and burnt down leaving three soldiers dead in as at the wee hours of the night.

” Very sad indeed. I feel for them because they are going to start a fresh. Sadly, this has been the routine which we have been following since a couple of years ago, I started working for my agency in this town.” She lamented.

Pulka which is about 109 km is at the foot of the Mandara mountains which is the hot bed of Boko Haram in Borno State.

Calm returns to Pulka after Wednesday night attack on the town

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Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike

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Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has directed the immediate deployment of 20 luxury electric buses for public use as part of measures to cushion the impact of the recent petrol price hike on residents.

The buses, which were inaugurated by President Bola Ahmed Tinubu on 20th December, 2025, alongside 3,000 electric bicycles, 500 electric tricycles, and 100 electric vehicles aimed at improving transportation services across the state.

The rollout of the buses, which commenced on Friday, 3rd April, features a fleet of 17 buses with 49 seating capacity, two 37-seaters, and one 28-seater. They are currently being deployed across major routes within Maiduguri metropolis and its environs to ease the burden of rising transport costs on commuters.

The Fully air-conditioned and energy-efficient vehicles can cover over 400 kilometres on a single charge. This initiative complements the existing fleet of buses and salon cars earlier procured by the Zulum administration to enhance urban mobility.

To ensure seamless operations, the governor has also established the largest electric vehicle charging terminal in the country, with the capacity to charge up to 50 vehicles at a time.

To further protect residents from the ripple effects of the global energy crisis, Governor Zulum directed Borno Express Transport Service to maintain a subsidised fare of N50 per drop.

The intervention has already begun to yield positive results, with noticeable reductions in congestion and improved access to affordable transportation for students, civil servants, traders, and other residents.

Commuters have since commended the initiative, describing it as timely and impactful.

“This transport initiative is indeed commendable. We are not feeling the impact of the rising transportation costs, as fares remain at N50 per drop. We thank Governor Zulum for the gesture”.

The initiative forms part of Governor Zulum’s effort to promote green energy, modernise transportation system and provide relief to the vulnerable.

Zulum Rolls Out 20 Electric Buses to Cushion Petrol Price Hike

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Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning

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Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning

By: Michael Mike

A senior United Nations official has issued a strong warning that governments and institutions risk deepening instability and policy failure if they continue to sideline young people, insisting that meaningful youth inclusion is now a critical condition for peace, stability, and sustainable development.

Speaking in Abuja at an interactive session with youth, the United Nations Assistant Secretary General for Youth Affairs and Head of UN Youth Affairs, who is currently on an official visit to Nigeria, Mr. Felipe Paullier, said global institutions are failing to evolve at the pace required to match today’s rapidly changing realities, particularly the demographic shift driven by an unprecedented youth population.

The event, themed “Open-Door Youth Engagement,” convened youth-led organizations, young women’s groups, youth peacebuilders, innovators, students, young professionals, persons with disabilities, and underserved youth communities for an interactive dialogue with representatives of the Government and the United Nations.

According to Paullier, young people now represent the largest, most educated, and most interconnected generation in history, especially in developing countries like Nigeria. However, this demographic advantage is being undermined by persistent gaps in access to quality education and limited opportunities for meaningful participation in governance.

He noted that: “Engaging young people in policy is not just an option—it is a condition if we want to achieve peace, stability, and effective solutions.”

He said the UN acknowledged a growing disconnect between policy formulation and real-world impact, describing the process of closing this gap as complex but urgent.

He admitted that while global frameworks exist, including the United Nations Sustainable Development Goals (SDGs) and youth-focused strategies, implementation at the national level remains inconsistent.

LHe emphasized that governments must move beyond rhetoric and adopt clear, actionable commitments that integrate youth voices into decision-making processes.

He said central to this effort is the UN’s broader development roadmap, which includes commitments to embed youth participation not only at global levels but also within country-level governance and policy execution.

Addressing concerns over the sustainability of policies, he warned that many initiatives fail because they are not designed to endure or adapt over time. The solution, the official argued, lies in institutionalizing youth engagement rather than treating it as a temporary or symbolic exercise.

He noted that nearly half of the world’s population under 30, and significantly higher percentages across Africa, the stakes are even higher for countries on African continent.

He said: “Youth engagement should not be seen as a project—it must be embedded at the heart of governance, financing, and development planning.”

The UN also called for increased investment in youth-driven innovation, noting that young Nigerians are already transforming sectors such as agriculture, technology, and the creative economy through ingenuity and entrepreneurship.

Youth Exclusion Could Derail Development Goals, UN Issues Urgent Warning

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