We will support success of Government Policies on Affordable Housing in Nigeria....REDAN

...I will Ensure the president Absent to the REDAN Bill.... SGF

By Ben Ogbemudia, Abuja

Real Estate Developers Association of Nigeria on Thursday re-emphasized their willingness to work with all strata of government to ease life for Nigerian citizens in ensuring the success of its policies on affordable and accessible housing in Nigeria.

The president of REDAN and Chairman of council, Alhaji Aliyu Oroji Wamakko stated this at the opening speech of their annual general meeting with a theme, "Improving Access to Affordable Housing for Wealth Creation and National Development" held at Chida hotel in Abuja.

He said by nature, the Real Estate Sector is labour intensive with benefits in terms of employment and the multiplier effect to many sectors of the economy that can turn the economy around.

According to him, "In doing so, we wish to place on record for all Members to know that REDAN’s leadership has zero-tolerance for shady deals and will continue to work with government on the path of sanity and national development.

Wamakko said REDAN is set to Improving Access to Affordable Housing for Wealth Creation and National Development.

"This AGM is called to give account of the stewardship of the 6th Council to our Members in accordance with the Constitution of the Association. While the AGM proper which comes up in the next session will expatiate on achievements to Congress, this segment of the event is to provide us with the opportunity to inform the government, investors, and the general public of the importance of housing to socio-economic advancement of the nation. It is in this regard that we have chosen the theme for this occasion which is:

The REDAN President also said that they have sustained collaborative relationships with critical housing sector Stakeholders ,and therefore secured financial resources to actualize a flagship National Housing Development Program tagged ‘RURAL-URBAN HOUSING INITIATIVE (RUHI-774)’, which is aimed at developing at least 100 housing units in each of the 774 Local Government Councils of the Federation including the FCT.

"REDAN’s initiative to sanitize Nigeria’s Real Estate Sector, for which we proposed a Bill tagged ‘The Real Estate (Regulations and Development) Bill’ has been approved by both chambers of the 9th National Assembly (Senate and House of Representatives).The 9th National Assembly has now passed the Bill for an Act to Establish the Real Estate Regulatory Council of Nigeria (RECON). The Bill when assented to by the President of the Federal Republic of Nigeria shall incentivize investment into the sector.

"As a tonic to place Real Estate Development business on the path of global practice, we sustained our relationship with the Regulatory Institutions namely: The Economic and Financial Crimes Commission (EFCC), the Special Control Unit Against Money Laundering (SCUML), the Nigerian Financial Intelligence Unit (NFIU) and Independent Corrupt Practices and Other Related Offenses Commission (ICPC). These agencies of the Federal Government will give credence and confidence to the International Community about our openness to do business in conformity with international best practices, and abhor sharp practices. We therefore call on our members to carry out their business with utmost diligence and in conformity to extant laws. There is no need for any of our Members to soil their businesses via unwholesome business relationships. I emphasize that Real Estate is our business and we must do all in our powers to protect and align it with best global practices.

"REDAN as a Self-Regulating Organization initiated the Estates and Product Endorsement Schemes to re-enforce and enhance standardization of Members’ products and Estates. This also led us to introduce and launch the ‘REDAN Seals’ as mark of credence.

He further said that the body now have in-house REDAN MAGAZINE and REDAN TELEVISION online to inform the government, MDAs, our Members and general public of developments and trends in the housing and real estate sector.

Wamakko however called on businessmen and women - entrepreneurs - to embrace real estate development as a profitable venture that provides high returns on investment, creates job, provides shelter as well as makes life comfortable for humanity.

He further called on the new government to give priority to housing development in the country by providing the enabling environment and support required for promoting real estate development in Nigeria.


Meanwhile, the president of REDAN Debunks the story of securing N26bn from Shelter Afrique In Some National Dailies.

He therefore urged the association members to disassociate themselves from the rumor.

Declaring the AGM open, the secretary to the government of the Federation, Senator George Akume who was so impressed with the passage of the real Estate Regulation and Development Bill assured of president Asiwaju Bola Ahmed Tinubu signing the Bill soon.

Represented by Professor Benard Babatunde said the SGF is interested and confidence that REDAN working close with government will provide affordable housing to Nigerians.

"Barely two weeks in office, the president has proven to deliver on his electoral promises. And in real Estate sectors, the is also ready to collaborate in providing affordable housing to Nigerians.

"Am particularly glad that REDAN Bill has been passed by the two Chambers, I will personally look for it, pass it to the SGF in ensuring the president Assent to