REDAN president recommends alternative building techniques

Chief Olabode Afolayan national president of REDAN (Real Estate Developers Association of Nigeria), advises developers in the Nigeria to seek and use alternative building techniques that will keep building costs perpetually low, so that affordable housing dream may be realistic.

Afolayan, who spoke in Ibadan during the 2nd delegates’ conference of the Nigeria Union of Pensioners, Federal Mortgage Bank of Nigeria Chapter, said housing practitioners must keep up with new trends in the industry and advised them to always avail themselves of useful information on policies, strategies and schemes introduced by government institutions, particularly FMBN, that would advance the course of their business.

He said there was a huge disconnect between providers of homes and those in dire need of accommodation, adding that a lot more needed to be done, particularly in the area of requisite advocacy and sensitisation to bridge the housing gap.

Afolayan, who said the built industry was currently in short supply of technocrats, also urged the pensioners to take up the challenge of involving themselves in the enlightenment campaign on the works of the FMBN to members of the public, who were often not properly informed on the several policies of the bank.

Speaking on the theme: ‘The role of Federal Mortgage Bank pensioners in promoting housing development,’ Afolayan, who is also the African President of the International Housing Association, urged members and those with the know-how to take up the responsibility of pioneering the unbundling of mortgage activities by becoming mortgage brokers, loan recovery agents and mortgage loan administrators.

He said, “You are ready tools of enlightenment on the activities of the institution to the teeming populace, who are oblivious of what is the role of FMBN. Today many people do not know how to access National Housing Fund loan or the Estate Development Loan.

“Many do not know how to contribute to the NHF and qualify to access the fund, which is about the cheapest loan in the economy to own a home. You are a veritable vehicle to actualise same.”

The REDAN boss added, “Your members can be pioneers in the unbundling of mortgage activities by becoming mortgage brokers, loan recovery agents and mortgage loan administrators. These specialised services, which are being practised in the advanced economies, can be introduced to deepen and grow the country’s mortgage industry, which, despite the FMBN’s long history, is arguably still in infancy as it has not attained even one per cent of its potential. By this effort, you are individually or collectively helping to deepen mortgage origination and administration in Nigeria”

“In the same vein, your knowledge in mortgage creation, loan recovery and loan administration will enable you to serve as resource persons in the mortgage training centres, especially that owned by FMBN in Minna, or your association may come up with the establishment of one, or in collaboration with the Mortgage Banking Association of Nigeria.”

Source: The PUNCH