From Okwe Obi, Abuja
The Real Estate Developers Association of Nigeria (REDAN) has appealed to President Bola Ahmed Tinubu to pass the Real Estate Regulatory Council (RECON) Bill to standardize the business of real estate development in Nigeria.
Remember that in November 2021, the 9th Senate passed the Real Estate (Regulation and Development) Bill, and a week later, Senate President Ahmad Lawan sent the Bill to the House of Representatives for concurrence. , which was finally approved in May of this year.
Addressing reporters yesterday in Abuja, Nigeria Real Estate Developers Association Chairman and Chairman Aliyu Oroji Wamakko said that when approved, it would regulate the conduct of transactions in the sector.
He added that the bill would provide an enabling environment and transparency in the business of real estate development in Nigeria in line with global best practices.
According to him, the initiative would curb fraudulent practices in the real estate development business in Nigeria; and ensuring that the real estate business complies with the Nigerian National Building Code.
“We are confident that President Asiwaju Bola Ahmed Tinubu GCFR, the Commander-in-Chief of the Armed Forces who has Nigerians at heart will sign the bill as soon as possible considering the substance of the bill for the real estate sector.
“As it will serve as an engine for job creation; with the benefits resulting from the National Economic Development. We use this medium to thank the members of the REDAN Board of Directors, the National Executive Council and full members for supporting us in our journey to bring the bill to this state”, he said.