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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
Two Notorious Terrorist Leaders Haruna Balatoni and Black Neutralised in Plateau Military Offensive Another Fatally Wounded as Six AK-47 Rifles Returned
Two Notorious Terrorist Leaders Haruna Balatoni and Black Neutralised in Plateau Military Offensive Another Fatally Wounded as Six AK-47 Rifles Returned
By: Zagazola Makama
Troops of the Nigerian Army have recorded major breakthroughs in ongoing offensive operations against armed criminal networks in Plateau State, neutralising two notorious terrorist leaders, critically wounding another and recovering six AK-47 rifles previously seized from security forces.
The latest developments followed sustained military offensives at Dajin Madam in Wase Local Government Area of Plateau State on November 8, 2026.

Security sources disclosed that HUMINT reports received at about 8:53 a.m. on November 9 indicated that the intensity of the military operation had resulted in the neutralisation of two suspected terrorist leaders identified as Haruna Balatoni and Black.
Another notorious figure, identified as Dogo Mai Kunkuru, was reportedly shot in the chest and left in a critical condition, with sources indicating that his chances of survival were slim.
In a significant development on November 10, the sustained military pressure reportedly compelled the terrorist network, through an intermediary identified as Ali-Kwara, to return six AK-47 rifles previously seized from security forces.
The recovered weapons are currently in military custody.
In a related operation, troops of 173 Battalion deployed at Mansur rescued a kidnapped mother and her daughter and recovered 39 cattle.
The developments represent a significant disruption of the criminal network’s leadership, weapons stockpile and capacity to sustain operations in the Wase axis.
The recovery of the six rifles is particularly important as it restores weapons previously lost to the criminal network and provides an opportunity for further intelligence exploitation.
The latest successes underscore the impact of sustained offensive pressure, intelligence-driven operations and military presence in dismantling armed groups operating across Plateau State.
The reported deaths of the terrorist leaders and the condition of Dogo Mai Kunkuru are based on preliminary HUMINT assessments and remain subject to independent military confirmation
Two Notorious Terrorist Leaders Haruna Balatoni and Black Neutralised in Plateau Military Offensive Another Fatally Wounded as Six AK-47 Rifles Returned
News
Troops Dislodge Terrorists from Hideouts in Taraba, Recover Five Motorcycles
Troops Dislodge Terrorists from Hideouts in Taraba, Recover Five Motorcycles
By: Zagazola Makama
Troops of the Nigerian Army’s 114 Battalion (Reinforcement) have dislodged suspected terrorists from their hideouts during a fighting patrol in Karim Lamido Local Government Area of Taraba State.
The operation, conducted under Operation WHIRL STROKE (OPWS), commenced at about 7:30 a.m. on November 8, 2026, with troops advancing towards Komodoro village, where they made contact with suspected terrorists.
Security sources said the criminals fled upon sighting the advancing troops, prompting the patrol team to extend its operation to Mashigin Kirya village within the same local government area.
At Mashigin Kirya, the troops encountered suspected terrorists believed to have been hibernating in the general area and engaged them, forcing the armed elements to retreat.
The troops subsequently recovered five motorcycles suspected to have been used by the criminal group for mobility and logistics.
To further disrupt the fleeing terrorists, the troops conducted a fire mission using an 81mm mortar along their withdrawal route.
The operation was ongoing as troops sustained pressure on suspected criminal hideouts and movement corridors in the area.
The development point to the military’s determination to deny armed groups safe havens and restrict their freedom of movement across Taraba State.
Troops Dislodge Terrorists from Hideouts in Taraba, Recover Five Motorcycles
News
Two Fulani Herdsmen, 16 Cows Killed in Attack on Enugu Community as Joint Troops Launch Investigation
Two Fulani Herdsmen, 16 Cows Killed in Attack on Enugu Community as Joint Troops Launch Investigation
By: Zagazola Makama
Troops of the Nigerian Army, in collaboration with the Nigeria Police and Department of State Services (DSS), have launched an investigation into an attack on Fulani herdsmen in Obelagu Umuamba community, Ezeagu Local Government Area of Enugu State, which left two herders and 16 cattle dead.
The incident came to light at about 11:00 a.m. on November 10, 2026, when a joint patrol team comprising troops of the 82 Division Garrison and 103 Battalion (Reinforcement), alongside police and DSS operatives, visited the community to assess the cause and extent of damage from the recent attack by suspected hoodlums.
On arrival, the security team discovered that two Fulani herdsmen and 16 cows had been killed, while two other persons sustained injuries.
Following the discovery, the troops convened a joint peace and security meeting involving community leaders, representatives of the Fulani herders, neighbourhood watch groups and other key stakeholders.
During the meeting, security officials cautioned all parties against taking the law into their hands, warning that reprisals could escalate tensions and further threaten peaceful coexistence.
The troops subsequently recovered the corpses and handed them over to the police for further investigation.
Meanwhile, security agencies have commenced efforts to identify and apprehend those responsible for the attack, including suspected local collaborators.
The intervention is aimed at preventing retaliatory violence, restoring confidence among residents and ensuring that those responsible are brought to justice.
Authorities have urged both farming and herding communities to remain calm, cooperate with security agencies and pursue grievances through lawful channels.
Two Fulani Herdsmen, 16 Cows Killed in Attack on Enugu Community as Joint Troops Launch Investigation
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