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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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Man kills father during domestic dispute in Bauchi community

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Man kills father during domestic dispute in Bauchi community

By: Zagazola Makama

A man, identified as Limam Muhammad Baba, has allegedly killed his biological father, Malam Baba Siti, during a domestic altercation.

The tragic incident occurred on Thursday, July 3, at about 10:15 p.m., in Uzum village, Giade Local Government Area of Bauchi State, when an argument between the two escalated, leading Limam to strike his father on the head with a stick.

Sources told Zagazola Makama that the victim collapsed immediately and lost consciousness.

Police sources say “The report was received at the Giade Divisional Police Headquarters at about 10:30 p.m. that the suspect used force on his biological father by striking him on the head with a stick, leading to the victim falling unconscious.

He added that a team of police operatives was immediately mobilised to the scene. The suspect was arrested, and the victim was taken to the General Hospital in Giade, where a medical doctor confirmed him dead on arrival.

The police sources said the body of the deceased was deposited at the hospital morgue while an investigation into the circumstances surrounding the incident has commenced.

He assured that the suspect would be charged to court upon completion of investigation.

Man kills father during domestic dispute in Bauchi community

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Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested

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Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested

By: Zagazola Makama

Security forces have apprehended four suspects in connection with an attack on the Deputy Chairman of Katsina-Ala Local Government Area, Mr Christopher Chia.

Sources told Zagazola Makama, that the incident occurred in the early hours of Thursday, July 3, when Chia was reportedly attacked by a group of young men suspected to be cultists.

The sources said the police received a distress call from the victim at about 6:00 a.m.

“Police patrol and tactical teams were immediately deployed to the scene. The victim was rescued and taken to Toro Hospital in Katsina-Ala, where he was treated and later discharged,” said the sources.

According to the sources, preliminary investigation led to the arrest of four suspects, while efforts are ongoing to apprehend the prime suspect identified simply as Richard, a member of the Black Axe confraternity, who is currently at large.

The sources added that the State Criminal Investigation Department (CID) has commenced a full investigation into the matter to unravel the motive behind the attack and bring all those involved to justice.

Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested

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Joint task force rescues kidnap victim in Abuja after 40km forest operation

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Joint task force rescues kidnap victim in Abuja after 40km forest operation

By: Zagazola Makama

A joint task force comprising operatives of the
Department of State Services (DSS), Federal Capital Territory (FCT) Police Command, local hunters, and vigilantes has successfully rescued a kidnap victim, Rasheed Soyinka, after a 40-kilometre forest operation across parts of Abuja.

Zagazola Makama learnt that the victim was abducted at gunpoint from his residence in Sabon Lugbe in the early hours of July 3, prompting a swift multi-agency response.

Shortly after the abduction, which occurred around 1:00 a.m., a joint task force involving the Anti-Kidnapping Unit, DSS operatives, local hunters, and vigilante groups, swung into action.

The coordinated operation, extended through Dafara via Gau Forest in Kuje Area Council and continued into Kabin Mongoro and Kwaita forests in Kwali Area Council, covering an estimated distance of 40 kilometres.

“Following sustained pressure and professional coordination, the victim was rescued at about 12:05 a.m. on July 4 without any casualties,”said the sources.

Soyinka was subsequently reunited with his family through his elder brother, while efforts are ongoing to track down the fleeing abductors.

Joint task force rescues kidnap victim in Abuja after 40km forest operation

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