The Real Estate Developers Association of Nigeria (REDAN) has attributed the growing cases of real estate fraud, substandard construction, and building collapses across the country to the activities of unregulated and unregistered property developers. The association called for stricter regulation and enforcement to protect homebuyers, improve construction standards, and restore confidence in Nigeria’s housing sector.
Speaking during an interview, REDAN President Prince Akintoye Adeoye said many of the challenges confronting the real estate industry stem from the absence of effective regulation and the activities of individuals operating outside recognised professional and legal frameworks. He stressed that many fraudulent operators lack the technical expertise and ethical standards required to deliver safe and quality housing projects.
Adeoye noted that patronising unregistered developers exposes buyers to risks such as land fraud, project abandonment, structural defects, and building collapse. He urged prospective homeowners and investors to verify the credentials of developers before making payments or committing to property transactions.
According to him, REDAN has continued to advocate for stronger collaboration with government agencies and regulatory institutions to sanitise the real estate sector. He said improved oversight, stricter compliance with planning regulations, and the enforcement of professional standards would significantly reduce fraudulent practices and improve the quality of housing delivery.
The REDAN president also emphasised the need for all developers to comply with building codes, obtain statutory approvals, and engage qualified professionals, including architects, engineers, builders, and quantity surveyors, throughout the construction process. He maintained that adherence to established standards is essential to preventing avoidable structural failures.
Industry stakeholders believe that strengthening regulation, improving consumer awareness, and enforcing professional standards will help reduce building collapses, discourage fraudulent property transactions, and create a safer, more transparent, and more sustainable real estate market capable of attracting greater investment.
