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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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VP Shettima Departs Abuja To Represent President Tinubu At G20 Leaders’ Summit In South Africa

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VP Shettima Departs Abuja To Represent President Tinubu At G20 Leaders’ Summit In South Africa

By: Our Reporter

Following the decision of President Bola Ahmed Tinubu, GCFR, to stay back in Nigeria and attend to security concerns in the country, Vice President Kashim Shettima has departed Abuja to represent the President at the G20 Leaders’ Summit in Johannesburg, South Africa @g20org.

President Tinubu had postponed his earlier scheduled trip to Johannesburg, South Africa to await further security briefings on the recent security incidents in Kebbi and Kwara States.

President Cyril Ramaphosa, the South African leader who also serves as the current President of the G20 group had invited his Nigerian counterpart to participate in this year’s edition.

The Summit, scheduled to take place from Saturday, November 22nd, to Sunday, November 23rd, at the Johannesburg Expo Centre, brings together leaders from the world’s top 20 economies, including the European Union, the African Union, financial institutions, among others.

The Vice President will return to Nigeria at the end of the engagements.

VP Shettima Departs Abuja To Represent President Tinubu At G20 Leaders’ Summit In South Africa

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PRESIDENT TINUBU ASKS MATAWALLE, MINISTER OF STATE FOR DEFENCE, TO MOVE TO KEBBI OVER SCHOOLGIRLS’ ABDUCTION

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PRESIDENT TINUBU ASKS MATAWALLE, MINISTER OF STATE FOR DEFENCE, TO MOVE TO KEBBI OVER SCHOOLGIRLS’ ABDUCTION

By: Our Reporter

President Bola Tinubu has asked the Minister of State for Defence, Alhaji Bello Matawalle, to relocate to Kebbi State over the abduction of 25 schoolgirls in the state.
 
Matawalle, who was formerly governor of Zamfara State, was asked to remain in the state to monitor security efforts to secure the release of the abducted students.
 
Gunmen abducted 24 students of Government Girls Comprehensive Secondary School in Maga town, Kebbi State, around 4 am on Monday.
 
Matawalle, who is expected to arrive in Birni-Kebbi on Friday, gained some experience in dealing with banditry and mass kidnapping during his tenure as governor of Zamfara State from 2019 to 2023.
 
On 26 February 2021, armed bandits abducted 279 female students aged between 10 and 17 at the Government Girls Science Secondary School, a boarding school in Jangebe, in Zamfara State. The bandits released all the hostages on 2 March 2021.
 
President Tinubu had postponed his scheduled trip to Johannesburg, South Africa, and Luanda, Angola, as he awaited further security briefings on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.

PRESIDENT TINUBU ASKS MATAWALLE, MINISTER OF STATE FOR DEFENCE, TO MOVE TO KEBBI OVER SCHOOLGIRLS’ ABDUCTION

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President Tinubu Hails Jonathan’s Eternal Covenant Of Service At Foundation’s 10th Anniversary

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President Tinubu Hails Jonathan’s Eternal Covenant Of Service At Foundation’s 10th Anniversary

*Says Nigeria’s democracy thrives because of leaders who place nation above ambition

By: Our Reporter

President Bola Ahmed Tinubu has praised former President Goodluck Jonathan as a guardian of democracy whose legacy extends far beyond his time in office.

The President described Jonathan as a profound lesson on life after public service, who preserved Nigeria’s democracy at a moment when it mattered most.

Speaking on Thursday during the 10th anniversary dinner of the Goodluck Jonathan Foundation in Abuja, President Tinubu, who was represented by his deputy, Vice President Kashim Shettima, said the former president’s decision to establish the foundation demonstrates that “life begins anew when we leave the high offices for which we are elected.

“There can never be enough words to express the depth of our national gratitude to him,” President Tinubu said, adding that Jonathan has “remained the same guardian of our collective values since leaving office.”

The President drew a contrast between leaders who use their post-office influence destructively and those who devote themselves to serving humanity.

“Some choose a vehicle that serves only themselves, one that pursues causes capable of harming the very society that once carried them. The other group chooses a nobler path: devoting their life to the service of humanity,” he said.

President Tinubu warned that democracy across West Africa and globally has come under severe threat over the past decade, weakened by “adventurists, by extremists, by actors intoxicated by power, by those who see institutions as inconveniences and elections as formalities.”

He emphasised that Jonathan had demonstrated a crucial principle that nobody’s ambition supersedes the sovereignty of the state.

The President called for national unity and respect for democratic processes, urging Nigerians to accept electoral outcomes regardless of personal preferences.

“No matter whether our preferred candidates win or lose, we must learn to respect the wishes of those who vote differently. Because democracy offers us repeated opportunities to renew our mandates.”

President Tinubu described the foundation as a template for us everyone, noting that service is a continuum and that leaving office is not the end of one’s national duty but the beginning of a new chapter.

He said, “No government can succeed without the cooperation of its people, and no people can advance without a government that listens and leads with clarity. Our democracy stands because of people like former President Goodluck Jonathan. People who believe that the Nigerian state is bigger than any individual.”

The President congratulated former President Jonathan and his team, expressing hope that the foundation would continue to be a light on our path toward a more peaceful and prosperous Africa.

Earlier, former President Jonathan thanked Vice President Shettima, former President Ernest Koroma of Sierra Leone and other dignitaries for the honour of attending his Foundation’s 10th anniversary.

Recalling the incident that led to birthing of the Goodluck Jonathan Foundation, the former President said the focus of the foundation was prompted by his experience and challenges while in office as Nigeria’s leader.

He said over the years, the foundation has paid close attention and worked relentlessly on the issues of diplomacy, good governance, election management and promoting the development of democratic institutions.

Dr Jonathan expressed his condolences over the recent incidents of abduction and attack on citizens across the country, calling on political leaders to be more responsible to the issue plaguing the security and wellbeing of Nigerians.

In his remarks, the guest speaker, Dr Mohammed Ibn Chambas, underscored the significance of functional democracy in Nigeria, emphasizing that the youths must be at the centre of all interventions.

He said that building a stable future for Africa must be anchored on the functionality of democratic institutions, effective youth empowerment schemes, a free press and an independent judiciary.

Dr Chambas extolled the leadership qualities of President Goodluck Jonathan, describing him as an African leader who believes in the values of true democracy and the sanctity of human lives, noting that the former president has proven his relevance even outside public office.

Also present at the event were former President of Sierra Leone, Dr Ernest Bai Koroma; former First Ladies, Dame Patience Jonathan and Hajiya Maryam Abacha; Former Secretaries to the Government of the Federation, Senator Pius Anyim and Mr Boss Mustapha; former Speaker of the House of Representatives, Sen. Aminu Waziri Tambuwal; former Governors of Imo State, Hon. Emeka Ihedioha; Sokoto, Attahiru Bafarawa; Adamawa, Boni Haruna; Plateau, Chief Jonah Jang; philantropist, Hajiya Bola Shagaya; former deputy governors; serving and former legislators; former Ministers; the Ooni of Ife, HRM, Oba Adeyey Enitan Ogunwusi, and captains of Industry, among others.

President Tinubu Hails Jonathan’s Eternal Covenant Of Service At Foundation’s 10th Anniversary

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