The Real Estate Developers Association of Nigeria (REDAN) has blamed the rising cases of fraud, illegal land transactions and building collapses across the country on the lack of proper regulation of property developers.
REDAN President, Akintoye Adeoye, made the call during the National Housing Data Programme Workshop organised by the Federal Ministry of Housing and Urban Development (FMHUD) in Abuja.
In his presentation at the event, which was made available to journalists on Sunday, Adeoye urged the Federal Government to introduce a comprehensive regulatory framework to oversee real estate developers and improve standards in the sector.
The traditional ruler of Okeigbo community in Ondo State said such a framework would promote professionalism, strengthen accountability and protect homebuyers and investors from fraudulent practices.
He noted that while professionals such as architects, engineers, builders and estate surveyors operate under statutory regulations, real estate developers remain largely outside a formal national licensing structure.
According to him, the absence of clear oversight has created room for dishonest operators to deceive buyers, sell properties multiple times, advertise fake projects and abandon housing developments after collecting payments.
Adeoye proposed a partnership model where the government would be responsible for licensing developers, while REDAN would focus on promoting ethical standards, training and professional development within the industry.
He said state governments should continue to manage land administration, physical planning and development control, while professional bodies oversee their respective areas of expertise.
The REDAN president stressed that establishing a National Developers’ Registry backed by strong regulations would ensure that only qualified and trustworthy developers are allowed to operate.
“The issue is no longer whether developers should be regulated, but how the system should work and which institutions should handle specific responsibilities,” he said.
Adeoye explained that developers play a crucial role in housing delivery and handle significant investments from citizens, making it necessary for them to operate under clear professional guidelines.
He added that credible regulation would not only protect consumers but also encourage investment, improve transparency and support government efforts to reduce Nigeria’s housing deficit.
According to him, a stronger regulatory structure would enhance data collection, improve planning and help policymakers make better decisions on housing development.
He called on stakeholders in the real estate industry to support reforms aimed at improving professionalism, restoring public confidence and ensuring safer housing projects across Nigeria.