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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
Senator Lawan commissions new ICU at Specialist Hospital in Gashua
Senator Lawan commissions new ICU at Specialist Hospital in Gashua
By: Yahaya Wakili
President of the 9th Senate, Senator Ahmed Ibrahim Lawan, Ph.D., GCON, Sardaunan Bade, has commissioned a new state-of-the-art Intensive Care Unit (ICU) at the Specialist Hospital Gashua, in Bade local government area of Yobe state. He also donated a brand new ambulance to the hospital to enable it to cope with emergencies.
According to him, the Intensive Care Unit at the Specialist Hospital in Gashua is one of the only two in Nigeria, with the other located in Ekiti State.
“This facility, which I am honored to have played a role in establishing, is a testament to my commitment to improving healthcare outcomes, he said.
“As a representative of the people of Yobe North Senatorial District, I have witnessed firsthand the pressing need for enhanced healthcare services in our communities.
The lawmaker further revealed that the absence of adequate critical care facilities has resulted in countless preventable deaths and immeasurable suffering. The realization of this ICU today is a significant step towards addressing this challenge.
This ICU is equipped with the latest medical technology and staffed by highly skilled health care professionals. It features advanced ventilation systems, patient monitors, and life-saving equipment that will enable us to provide the highest level of care to critically ill patients.
“From victims of road accidents to those suffering from severe infections, ailments, or respiratory distress, this ICU will serve as a source of hope for our people.
He commends His Excellency, the Governor of Yobe State, Rt. Hon. Mai Mala Buni, CON, for giving health a place in priority areas. He has placed health on the list of top priority areas of concern, and he has constructed so many medical facilities across the state.
“What we have done here is actually to complement what the state governor is doing. After all, this establishment is a state government establishment. So, this infrastructure to support what is already here.” he said.
“I am grateful to His Excellency, Governor Buni, for giving us the opportunity to complement the efforts by state government.” Senator Lawan added.
The president of the Ninth Senate maintained that the Intensive Care Unit of the hospital is not to serve Yobe North Senatorial District (Zone C) alone but other parts of the state.
Senator Lawan commissions new ICU at Specialist Hospital in Gashua
News
Again, troops dismantle illegal bunkering sites, recover 115,000 litres of stolen crude in ongoing operations in Niger Delta
Again, troops dismantle illegal bunkering sites, recover 115,000 litres of stolen crude in ongoing operations in Niger Delta
By: Michael Mike
In a significant victory against illegal oil bunkering, troops from the Nigerian Army’s 6 Division have dismantled over 15 illegal refining sites, arrested 10 suspects, and recovered more than 115,000 litres of stolen crude oil across the Niger Delta region.
According to, Acting Deputy Director of Army Public Relations for the 6 Division, Lieut. Col. Danjuma Jonah Danjuma, the operations, part of ongoing efforts to curb economic sabotage, also led to the seizure of 30 cooking pots, 11 vehicles, and several boats used in illicit activities.
In Rivers State, after receiving intelligence on oil theft at SIAT Farm in Elele, Ikwerre Local Government Area (LGA), troops intercepted a truck carrying 40,000 litres of stolen crude. In Okrika LGA, three illegal refining sites were dismantled, and two wooden boats with 26,500 litres of stolen products were seized.
Similar successes were recorded in Degema LGA, where four illegal refining sites were taken down, and over 16,000 litres of stolen crude and Automotive Gas Oil (AGO) were recovered.
Operations along the Imo River led to the destruction of several makeshift camps, wooden boats, and cooking equipment, while at Okoloma, Obuzor, and Ukwa Creeks, 15,000 litres of stolen crude were confiscated. Troops also uncovered a pipeline vandalization site in Akuku-Toru LGA, arresting one suspect and seizing three gas cylinders.
In Delta State, a trailer siphoning crude from a pipeline in Ozoro, Isoko North LGA, was intercepted, and two suspects were arrested. Similar operations in Ika South LGA and Orhiomwon, Edo State, led to the recovery of vehicles filled with stolen products.
Bayelsa and Akwa Ibom States also saw successful raids, with troops deactivating illegal refining sites and seizing stolen products. In Nembe LGA, over 2,800 litres of stolen crude were recovered, while in Southern Ijaw, another 2,500 litres were confiscated. In Akwa Ibom, troops intercepted drums of premium motor spirit near Oron waterways, likely prepared for smuggling to neighboring countries.
The Nigerian Army continues its relentless crackdown on illegal oil activities, ensuring that economic saboteurs are denied freedom of action.
Danjuma reaffirmed the military’s commitment to eradicating illegal oil bunkering and safeguarding the nation’s resources.
Again, troops dismantle illegal bunkering sites, recover 115,000 litres of stolen crude in ongoing operations in Niger Delta
News
Zulum commissions 500 resettlement houses
Zulum commissions 500 resettlement houses
By: Michael Mike
Borno State Governor, Prof. Babagana Zulum has commissioned a 500 resettlement housing estate in Konduga Local Government Area in the central part of the state.
The resettlement houses have public facilities such as schools, a primary healthcare centre, water facilities and other basic needs.
In an event held on Sunday in Konduga town, Zulum noted that the resettlement marked the beginning of the closure of IDP camps in Konduga local government area. About 500 families benefited from the gesture.
In addition to the houses, each family also received food items, blankets, mats, mattresses, rubber buckets and wrappers.
Similarly, each head of the household received N50,000; while the housewives received N20,000 as part of the resettlement package to support them in picking up the pieces of their lives.
Those resettled were from the 10 communities displaced by the Boko Haram insurgents: Towuri, Modu Amsamiri, Goniri, Mairamiri, Lawanti Grema Gogobe, Bula Bowuri, Zarmari, Amusari, Bula Bakaraye and Furi.
Meanwhile, Zulum has directed the Ministry for Reconstruction, Rehabilitation and Resettlement to complete the construction work for 500 houses in Dalwa town within six months.
He also directed the construction of another 500 houses in Aulari town also in Konduga Local Government Area.
Zulum also directed the Ministry of Education, Science, Technology and Innovation to immediately assess the College of Business and Administration Konduga and determine the extent of the destruction the Boko Haram insurgents wrecked on the college.
Zulum commissions 500 resettlement houses
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