The Oluoke of Okeigbo Kingdom, Ondo State, and President of the Real Estate Developers Association of Nigeria, Oba Akintoye Adeoye. Photo: Johnson Idowu. Real estate developers have said the Federal Government’s withdrawal of police escorts from private citizens has left many of them vulnerable to kidnappers, disrupted project delivery and worsened insecurity across the housing sector.
The developers, under the aegis of the Real Estate Developers Association of Nigeria, said some of their members can no longer safely access project sites, resulting in delays in housing delivery and increased operating costs. Speaking on the development, the National President of REDAN, Oba Akintoye Adeoye, said the withdrawal of police protection had significantly affected developers who relied on security escorts to access remote project locations.
“There are some cases where some developers cannot even go to their sites. During this period, the government withdrew police security from Nigerians. “So, some of the developers that rely on police protection had their police protection removed from there. And in view of that, some could not even go to their site now.
And it’s affecting delivery. So, they cannot even deliver on their promise to their clients on the deadline they have agreed on,” he said. Adeoye added that the worsening security situation had forced some residents to abandon completed estates. “And there are some estates that have been delivered; their people are moving out because of the insecurity.
If you look at Ogun State, between Abeokuta and Mowe, there are estates within that corridor where people have moved out of the estate because of insecurity. “I know of an estate that the kidnappers have actually kidnapped three times. On one of the occasions, one of the residents was killed.
It’s affecting our business,” he said. Adeoye further disclosed that several developers and their workers had been kidnapped while carrying out construction activities. “Some of our members were kidnapped at their site, including their staff. Not one, not two, not three, and ransom was paid.
The security of lives and property is one of the primary duties of government,” he said. He argued that government efforts should be measured by results rather than promises. “And there is no amount of trying that government will say that they are trying. That would be enough.
It’s not about trying. “It is about the result. You see, maybe they are putting so much effort. But we are not seeing the effort. What will justify the effort is the outcome, the result. And that’s exactly what we are asking for. That translates the effort into tangible results that we can be proud of.” According to him, ransom payments made by developers eventually increase housing costs.
“And when a developer is kidnapped with his staff and lots of money paid as ransom, definitely the money is going to come from the business. And it’s going to be transferred to the buyer of his products. One way or the other. “Maybe not everything, but part of it.
Probably by planning to waive, to grant a waiver, or to reduce the prices of his products. With those unplanned expenses, it’s going to be very, very difficult for him to consider anybody for price reduction. It’s going to affect product pricing.” Related News Dateline 2027: When terrorism becomes a political strategy Bandits demand release of fighters for abducted ex-Army spokesman The constitution at gunpoint: Tinubu, Aiyedatiwa, Ogbomoso and the Owo verdict He added, “Our legal advisor was kidnapped.