The Federal Government has been advised to adopt Oyo State’s approach to affordable housing by creating a more developer-friendly environment through policy support and tax incentives.
The recommendation was made by Adelaja Adeoye, President and Chief Executive Officer of Fendini Group, during a press briefing in Ibadan to mark the official issuance of the Certificate of Occupancy (C of O) for the Rayfield Gardens City Estate.
Adeoye emphasized that affordable housing could become a reality for many Nigerians if federal authorities implement measures to ease the financial challenges faced by real estate developers. He specifically pointed to the high cost of building materials as a major hurdle and suggested that targeted tax waivers and infrastructure support could significantly lower construction costs.
“With the right policies in place, such as tax relief and improved infrastructure access, the burden on developers would be reduced, and more Nigerians would be able to afford decent homes,” he said.
Highlighting Oyo State’s proactive support for private investment, Adeoye commended the administration of Governor Seyi Makinde for creating an enabling environment that continues to attract investors. He cited the state’s commitment to infrastructure development, protection of investor interests, and consistent policy implementation as key drivers of confidence in the market.
According to him, the assurance given by the state government regarding the protection of existing investments despite political transitions has further encouraged private sector participation in real estate.
“Governor Makinde’s commitment to ensuring that political changes will not disrupt ongoing projects has strengthened investor trust, particularly in long-term developments like Rayfield Gardens,” Adeoye noted.
He expressed appreciation to the state government for issuing legal title documents for the estate, describing the gesture as vital to investor assurance and the long-term success of housing projects in the region.
Rayfield Gardens City Estate, located in Ibadan, features stable electricity supply, well-paved roads, and robust security systems. Adeoye described the development as a model for sustainable and inclusive community living.
He also thanked the estate’s subscribers for their confidence in Fendini Group and promised continued adherence to high standards, including prompt issuance of documentation as agreed upon in their contracts.
