The Chairman, Real Estate Developers of Nigeria (REDAN), Southwest zone, ‘Debo Adejana, has
called on the Standards Organisation of Nigeria (SON) to eliminate sub-standard materials from the market.
Adejana, who spoke recently in Lagos, said the building materials market is suffocated by fake and sub-standard materials that cause incessant building failures.
He canvassed a system that would deal with sub-standard materials in the sector.
Adejana, however, lamented that housing development is slow because it is choked by several factors, which include access to finance, land, materials and resources.
He said: “There is no potent demand for housing in Nigeria but rather a latent demand because of high cost of mortgage rate and tenure. The nation is not in short supply of vast land, but unfortunately, they are not bankable as they have no economic value as a result of the cumbersome nature of obtaining titles and other relevant documents from government.
“ As a body, we want to work with government to make smooth these rough edges so that we can have an enabling environment to operate and fill the much-needed gap in housing development.’’
Adejana said the economy could be rejigged through the sector by making it a construction site like others globally, especially during the pandemic.
According to him, the country is never in short supply of policies but rather the prudent implementation of them.
He said REDAN could reduce the gap in the housing need put at 700,000 yearly by the National Bureau of Statistics (NBS) if the government could partner the body by creating an enabling environment.
He lamented that over-regulation and delays in obtaining titles and permits hampered their operation, especially with loans and bank instruments with timelines.