The Real Estate Developers Association of Nigeria (REDAN) has urged the federal, state, and local governments to remove all obstacles hindering the development of the real estate sector in the country.
The president/chairman of REDAN, Prince Akintoye Adeoye, made the appeal during the 16th Annual General Meeting (AGM) of the association held in Uyo, Akwa Ibom State, over the weekend.
Adeoye noted that the challenges involved in land acquisition have impeded investment, development, and innovation in the sector. He emphasised the need for the government to simplify the land acquisition process.
“To truly unlock the potential of real estate in Nigeria, we must be intentional and collaborative. I call on the federal, state and local governments to prioritise the creation of an enabling environment for the real estate sector to thrive,” he said.
“This begins with improving access to land and eliminating the bureaucratic bottlenecks that hinder investment, development, and innovation. Land remains the most fundamental asset in the real estate value chain. Without efficient and transparent land administration, our efforts will always face setbacks, ” he added.
He urged the government to simplify land acquisition processes, reduce the cost and time for obtaining approvals, and harmonise regulatory frameworks across states.
Continuing, Adeoye called for the implementation of incentives to attract private capital into housing development, especially for affordable and social housing, to address the housing deficit.“We believe strongly that real estate can play a central role in addressing Nigeria’s unemployment crisis, engaging our youth productively, and fostering inclusive economic growth,” he added.
He also called on all professional bodies within the built environment and sister associations to collaborate with REDAN in advocating for the passage of the Real Estate (Regulation and Development) Bill.
“This Bill is not about control; it is about order, accountability, and trust. It seeks to establish a regulatory framework that protects all stakeholders—developers, buyers, financiers, and regulators alike,” he said.
