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

Bandits kill two police personnel, cart away weapons in Musawa ambush in Katsina

Published

on

Bandits kill two police personnel, cart away weapons in Musawa ambush in Katsina

By: Zagazola Makama

Suspected armed bandits, allegedly affiliated with a notorious bandit leader, have ambushed a police convoy in Katsina State, killing two police personnel and carting away their service weapons.

Police sources said the attack occurred at about 5:50 p.m. on April 7, 2026, at Sabon Garin Garu village in Musawa Local Government Area.

The assailants, said to be in large numbers and riding on about 30 motorcycles, were reportedly affiliated with a notorious bandit leader identified as Muhammadu.

They ambushed a vehicle conveying five personnel of the Police Mobile Force (27 PMF) who were travelling from Zamfara State through Katsina State.

A swift response by police tactical teams, including patrol units and community watch groups, led to a gun duel with the attackers, forcing them to retreat.

Three of the police personnel were rescued unhurt during the exchange of fire.

However, two personnel were killed in the attack. They were identified as Sgt. Bilyaminu Babangida and PC Abdulaziz Musa.

The attackers also carted away the officers’ service rifles and a riot gunner.

Police reinforcements from Dutsinma, Kankia, Matazu and Kankara were subsequently deployed to block escape routes, while cordon and search operations were ongoing to apprehend the perpetrators and recover the stolen arms.

Security authorities said efforts had been intensified to restore calm in the area and prevent further attacks along the axis.

Bandits kill two police personnel, cart away weapons in Musawa ambush in Katsin

Continue Reading

News

Fake report of unrest at unijos debunked, military assures campus security

Published

on

Fake report of unrest at unijos debunked, military assures campus security

By: Zagazola Makama

The Management of the University of Jos and the Nigerian military have dismissed as false and misleading a viral report alleging unrest, chaos, and destruction within the institution, describing it as a deliberate attempt to cause panic and misinformation.

The fake report, which circulated on social media alongside an image claimed to depict violence on campus, suggested that “student grievances had escalated into chaos” with alleged destruction and insecurity within the university environment.

However, checks by Zagazola and confirmation from university authorities indicate that the situation at the University of Jos remains calm, peaceful, and under control, with normal activities ongoing.

It was further gathered that the image accompanying the false report was generated using Artificial Intelligence and does not reflect any real incident within or around the university.

A senior security source told Zagazola Makama that the General Officer Commanding 3 Division, Nigerian Army and Commander Joint Task Force Operation ENDURING PEACE, Major General E.F. Oyinlola, personally led troops to the University of Jos following the circulation of the fake report.

During the visit, the GOC met with the Vice Chancellor of the institution and assured management of the Nigerian Army’s commitment to safeguarding the university community, students, and staff against any form of threat or security breach.

The military described the viral publication as “fake news deliberately designed to cause confusion, panic, and distrust,” urging members of the public to disregard it in its entirety.

Authorities further cautioned against the circulation of unverified content, especially digitally manipulated images, warning that such misinformation could incite unnecessary fear and disrupt public peace.

The University of Jos management also reaffirmed that there was no unrest or security breach on campus, stressing that academic activities were proceeding without disruption.

Security agencies assured continued surveillance and protection of the institution as part of ongoing efforts under Operation ENDURING PEACE to maintain stability across Plateau State.

The public has been urged to rely only on verified information from official sources and avoid sharing content capable of undermining peace and order in the state.

Fake report of unrest at unijos debunked, military assures campus security

Continue Reading

News

Athena Observatory Warns of Deepening Structural Risks in Nigeria’s Democracy

Published

on

Athena Observatory Warns of Deepening Structural Risks in Nigeria’s Democracy

By: Michael Mike

A new policy report has raised fresh concerns about the stability of Nigeria’s democratic system, warning that growing political fragmentation and institutional strain could undermine the credibility of elections ahead of the 2027 general polls.

The report, released on Tuesday by the Athena Election Observatory (AEO), marks the debut of its Political Landscape Monitor—a policy series designed to track and analyse the country’s evolving electoral environment. Titled “Nigeria’s Democracy and the Imperative of Competitive Politics,” the inaugural note paints a sobering picture of a political system struggling to keep pace with its own internal dynamics.

According to the Observatory, a pattern is emerging across Nigeria’s major political parties in which leadership disputes, fragile alliances, and factional battles are becoming increasingly common. While these crises may appear isolated, the report argues they are symptoms of a deeper structural imbalance.

At the heart of the problem, it said, is a widening gap between political activity and institutional capacity. Political actors, driven by the urgency of coalition-building and power consolidation, are moving faster than the rules and structures meant to regulate them.

“This is not just about party disagreements,” the report noted. “It is about the weakening of the systems that are supposed to organise competition, manage conflict, and ultimately guarantee meaningful choice for voters.”

The analysis drew from recent developments within prominent parties such as the African Democratic Congress (ADC), the Peoples Democratic Party (PDP), and the Labour Party, where internal tensions and contested leadership claims have repeatedly spilled into the public domain.

Observers say the trend reflects a broader shift in how political disputes are resolved in Nigeria. Rather than being settled through internal party mechanisms, disagreements are increasingly pushed toward external institutions—particularly the courts and electoral regulators.

The report highlighted the pivotal role of the Independent National Electoral Commission (INEC) in this process. Its decisions on which party factions to recognise can effectively determine leadership outcomes, making it a central actor in intra-party struggles.

While acknowledging INEC’s constitutional mandate, the Observatory cautioned that inconsistent or opaque decision-making could erode public confidence. It called for clearer procedures and stricter adherence to impartiality to prevent the Commission from being perceived as a political arbiter.

Equally significant is the growing reliance on the judiciary to settle political disputes. The report warned that while the courts remain essential for upholding the rule of law, their increasing involvement in intra-party conflicts risks displacing internal governance systems.

Legal interventions, it argued, should serve as a last resort—not a default mechanism.

“When courts become the primary arena for resolving political disagreements, parties gradually lose the capacity to govern themselves,” the report states. “Over time, this weakens the entire democratic ecosystem.”

Beyond institutional concerns, the Observatory drew attention to the implications for ordinary voters. A fragmented political landscape, it said, reduces the clarity and credibility of electoral choices, leaving citizens with options that may lack cohesion or long-term viability.

In such conditions, elections risk becoming procedural exercises rather than meaningful expressions of democratic will.

The report ultimately framed the issue as a national, rather than partisan, challenge. Strengthening the institutional foundations of political competition, it argued, is critical not only for credible elections but also for political stability and governance.

As Nigeria edges closer to another election cycle, the findings serve as a stark reminder that the health of a democracy depends not just on the conduct of elections, but on the strength of the systems that shape them long before ballots are cast.

The Athena Election Observatory said it will continue to publish periodic assessments under its Political Landscape Monitor, offering data-driven insights into the trends shaping Nigeria’s political future.

Athena Observatory Warns of Deepening Structural Risks in Nigeria’s Democracy

Continue Reading

Trending

Verified by MonsterInsights