By Stanley Onyekwere
Members of the Real Estate Developers Association of Nigeria (REDAN) are admonished to always ensure the timely completion of projects in Abuja, the nation’s capital.
Making this point, FCT Minister, Barrister Nyesom declared that the FCT Administration would only engage in partnerships REDAN if the association can proof demonstrate capacity and commitment towards project completion within a stipulated timeframe.
Wike, who made this assertion during REDAN’s courtesy visit to his office in Abuja, underscored the importance of accountability, warning that failure to fulfill obligations, including payment of ground rent and property taxes, would not be tolerated.
He reiterated that the government’s resources for development of FCT cannot come from oil well.
He also stressed the need for a mutually beneficial partnership, highlighting the potential for the government to also provide land for housing estates and questioning the practice of developers selling land allocated by the government.
While expressing openness to new models, the Minister, stressed the importance of accountability and transparency in the system.
Earlier, the REDAN Chairman, Dr. Ehikioya Okoruwa, had assured the minister of the association’s readiness to cooperate, and outlined plans to build 15,000 houses to address the widening housing deficit.
He added that there is a potential investment of 262 billion Naira, with the FCT administration standing to benefit 65 billion Naira if supported.
Okoruwa also assured that REDAN is working with security agencies to address land racketeering, emphasizing the association’s commitment to ethical practices and accountability.
“The meeting sets the stage for a potential partnership between the FCT administration and REDAN, but with clear terms and expectations for accountability and transparency”, he stressed.
