Affordable housing achievable with right policies, Fendini CEO tells FG

…As Oyo govt. issues C of O to Rayfield Gardens City Estate

Adelaja Adeoye, the President and Chief Executive Officer of Fendini Group has called on the Federal Government to replicate Oyo State’s approach by creating a more enabling environment for developers through policy support and tax incentives.

“Affordable housing is achievable if the Federal Government supports developers with the right policies—such as tax waivers to offset the high costs of construction materials like cement, iron bars, and aggregates,” Adeoye emphasized.

This is coming as the Oyo State Government has issued a Certificate of Occupancy (C of O) for the Rayfield Gardens City Estate project, located at Christopher Adebayo Alao-Akala GRA, Wofun, Monatan, Iwo Road area of Ibadan.

Adeoye, who described the move as a significant milestone for the estate and its investors said

real estate stakeholders must work hand in hand with the government to strengthen the legal, economic, and regulatory framework to protect investments.”

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Governor Makinde had earlier reiterated his administration’s commitment to safeguarding investors’ interests in the state. Speaking in June 2025 during a meeting with the Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, the Governor assured that political transitions in the state would not jeopardize existing investments.

Adeoye however lauded Governor Makinde for making Oyo State an attractive destination for real estate investment, citing the administration’s support for sustainable development.

“Oyo State is fast becoming the preferred investment destination in Nigeria and Africa. The state government’s commitment to infrastructure and investor protection is unmatched,” he said.

“I know that political risk is something most investors don’t want to deal with,” Makinde said. “While I am here, I believe we have the opportunity to lock things up for the next 25 to 30 years and back it up by law.”

Adeoye expressed gratitude to Governor Seyi Makinde, highlighting the Governor’s visit to the estate in October 2024, where he inspected ongoing projects and commended the developer’s efforts.

While saying that the company is excited to announce that the state government has issued our legal title documents to protect our investment, which has been under processing for some time now noted that “this achievement is a testament to the safety and security of the project as a prime investment destination for residents, subscribers, and investors.”

Rayfield Gardens City Estate, which began full development in 2023, is a Public-Private Partnership (PPP) initiative between Fendini Group and the Oyo State Government through the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) in which the project aims to deliver over 400 housing units to address the housing needs of the state.

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According to Adeoye, the estate has already witnessed substantial development, including electricity, paved roads, solar-powered street lighting, perimeter fencing, smart CCTV cameras, premium security services, water drainage systems, and completed housing units ranging from classic to contemporary duplexes.

“We are committed to excellence, transparency, and providing high-quality services to our residents. Our next step is to begin the issuance of title documents to our subscribers in accordance with our terms of offer,” he said. “We appreciate our subscribers believing in us and trusting the vision from the start.”

“The estate is fast becoming the best and top Estate destination for luxury home seekers in Ibadan,” Adeoye said, adding that the serene environment and steady electricity supply have attracted early residents.

In addition to residential developments, the estate has already established a shopping complex—WestMead Mall—and is seeking more investors to expand the commercial aspect of the estate.