The President and Chairman of Council of the Real Estate Developers Association of Nigeria (REDAN), Prince Akintoye Adeoye, has made a compelling call for sweeping reforms to reposition Nigeria’s real estate sector as a major driver of economic growth, job creation, and national development.
Prince Adeoye made these remarks during the 16th Annual General Meeting (AGM) of REDAN, held on April 23, 2025, at the Jacksville Event Centre in Uyo, Akwa Ibom State. The high-profile event drew key stakeholders from across the nation, including the Executive Governor of Akwa Ibom State, His Excellency Pastor Umo Bassey Eno; the Honourable Minister of Housing and Urban Development; members of the National and State Assemblies; industry leaders; and representatives from top financial institutions such as the Federal Mortgage Bank of Nigeria (FMBN), Family Homes Funds Ltd., and Shelter Afrique.
In his opening address, Prince Adeoye emphasized that REDAN is far more than an association of estate developers. “REDAN is a policy influencer, a reform advocate, a standard bearer, and a strategic partner in national housing development,” he asserted, stressing the pivotal role real estate must play in Nigeria’s broader economic strategy.
The REDAN president highlighted that around the world, real estate serves as a platform for economic transformation, job creation, and social inclusion. In Nigeria, however, he lamented that the sector’s full potential remains largely untapped due to systemic challenges, especially concerning land acquisition and bureaucratic bottlenecks.
He called on the Federal, State, and Local Governments to prioritize real estate sector reforms by creating a more enabling environment, simplifying land acquisition processes, reducing approval times, and harmonizing regulatory frameworks across states.
“Land remains the most fundamental asset in the real estate value chain,” Prince Adeoye noted. “Without efficient and transparent land administration, our efforts will always face setbacks.”
Another major focus of his speech was the urgent need to pass the Real Estate (Regulation and Development) Bill. Describing the bill as crucial for restoring investor confidence, eliminating fraud, and enhancing transparency, he called on all professional bodies in the built environment to join forces with REDAN in pushing for its enactment.
“The Real Estate Bill is not about control; it is about order, accountability, and trust,” he stated.
Prince Adeoye further urged the government to integrate real estate development into national economic planning, pointing out that housing must be part of strategies for industrialization, youth employment, smart cities, and rural development.
He warned that Nigeria’s growing urban population and increasing housing demand cannot be adequately addressed without bold leadership, targeted investments, and coordinated planning.
The President also reaffirmed REDAN’s commitment to its ATIPS blueprint — built on the pillars of Advocacy, Transparency, Innovation, Professionalism, and Sustainability — and expressed gratitude to REDAN members, partners, and stakeholders for their continued support.
“As we build homes, we are also building the future of our nation,” he concluded, urging unity and commitment to advancing Nigeria’s real estate sector for generations to come.
The 16th AGM was not only a moment of reflection but a renewed call to action for the entire real estate industry in Nigeria.
