The Real Developers Association of Nigeria (REDAN) has urged the Federal Government to allocate funds from recovered estates to subsidize social housing projects aimed at low- and middle-income Nigerians. The association believes this initiative would enhance housing accessibility and promote the country’s socio-economic development.
During a press conference in Lagos, REDAN President and Chairman of Council, Akintoye Adeoye, emphasized the organization’s commitment to advocating for affordable housing. He expressed a desire to collaborate with the government and other stakeholders to ensure that housing is recognized as a fundamental right rather than a privilege.
Adeoye also reiterated REDAN’s dedication to promoting affordable homeownership, improving mortgage accessibility, and establishing fair rental policies throughout the nation. He called on President Bola Tinubu to approve the Real Estate Regulatory Bill to further these goals.
REDAN praised the government and the Economic and Financial Crimes Commission (EFCC) for successfully recovering and returning 753 housing units and other assets at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. The organization also commended the swift formation of a 12-member Ministerial Committee and a Technical Committee to evaluate the estate’s structural integrity and infrastructure needs. “Our association recognizes Mr. Ola Olukoyede, Executive Chairman of the EFCC, for his transparency and professionalism in overseeing the recovery process while prioritizing national interests.
We also extend our gratitude to President Bola Ahmed Tinubu for his decisive leadership in transferring the recovered estate to the Federal Ministry of Housing and Urban Development.
