News
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
Police arrest six officers over killing of okada rider in Lagos

Police arrest six officers over killing of okada rider in Lagos
By: Zagazola Makama
The Lagos State Police Command have arrested six of its personnel, including an Assistant Superintendent of Police (ASP), over the killing of a commercial motorcyclist at Onosa town, Ibeju-Lekki area of the state.
Sources confirmed the development to Zagazola Makama on Saturday saying the incident occurred in the early hours of Aug. 29 when a team of policemen allegedly on illegal duty clashed with a group of okada riders.
According to the sources , the officers, led by ASP Dauda Irimia of the Division Motor Traffic Department (MTD), were attacked by motorcyclists in their large numbers.
“In their bid to ensure their safety, the ASP used his firearm, which resulted in three of the riders sustaining injuries. They were rushed to Luscent Private Hospital, Ibeju-Lekki, where one of them, Muazu Abubakar, 22, was confirmed dead,” said the sources.
The incident sparked a violent protest as youths and commercial riders blocked the Lekki–Epe expressway, disrupting traffic along the busy corridor.
The Commissioner of Police, Lagos State Command, personally led reinforcement teams that dispersed the protesters, cleared the barricades, and restored the free flow of traffic.
He thereafter engaged youth and community leaders in dialogue to sustain peace and prevent further escalation.
Meanwhile, the ASP who fired the fatal shot and five other members of his team have been arrested and detained.
Police said a thorough investigation into the incident had commenced, adding that appropriate disciplinary measures would be taken against those found culpable.
Police arrest six officers over killing of okada rider in Lagos
News
Security forces bust child trafficking syndicate in akwa ibom, arrest five

Security forces bust child trafficking syndicate in akwa ibom, arrest five
By: Zagazola Makama
Security forces in Akwa Ibom have arrested five suspected members of a child trafficking syndicate along the Ikot Ekpene–Aba highway.
Zagazola Makama learnt from sources that detectives attached to the Criminal Surveillance Unit (CSU), while on stop-and-search duty on Aug. 28, intercepted an 18-seater Toyota Hiace bus belonging to Uwakmfom Transportation Company.
According to the sources , one of the passengers, identified as Precious Emmanuel Bassey, was found with a two-year-old girl, Glory Edet Etim, but could not give a satisfactory account of the child.
“She was immediately arrested and, upon interrogation, confessed that she was taking the child to Lagos for trafficking. She also admitted to having earlier sold another child,” said the sources.
The sources added that based on her confession, four other suspects Godspower Edet, Esther Effiong Edet, Mandu Asuquo Sampson and Eli Adolphus were arrested.
Sources said discreet investigation was ongoing to track down other members of the syndicate and recover previously trafficked children.
Security forces bust child trafficking syndicate in akwa ibom, arrest five
News
Army launches operation to rescue abducted farmers in Edo

Army launches operation to rescue abducted farmers in Edo
By: Zagazola Makama
Troops of the Nigerian Army have launched a joint operation with local vigilantes to rescue two persons abducted on a farm in Amedokhian community, Esan West Local Government Area of Edo State.
Sources told Zagazola Makama that the victims, identified as Mr. Clifford Isolate and an unidentified woman, were kidnapped on the morning of Aug. 29 while working on a farm in Ukoni Amedokhian.
He said the army immediately mobilised troops to the area in coordination with local vigilantes and the Anti-Kidnapping Unit of Esan youths to secure the release of the victims.
“Our troops were deployed promptly to track and apprehend the abductors while ensuring the safety of the victims.
The sources said the operation is ongoing, and all necessary measures are being taken to ensure a successful rescue.
Army launches operation to rescue abducted farmers in Edo
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