At a major international real estate summit in Lagos, former Vice President Yemi Osinbajo urged industry leaders to rethink how homes are built in Nigeria.
He called for a shift towards sustainable housing practices that not only reduce harm to the planet but also make shelter more accessible to all. Speaking during the 75th World Congress of the International Real Estate Federation (FIABCI), Osinbajo said the future of real estate must reflect the needs of the people and the planet alike.
He pointed out that climate-responsive design using local materials is no longer a luxury, but a necessity. In his view, housing should serve everyone, not just the wealthy or formally employed.
To do this, he said governments need to take social housing seriously not just as a policy tool, but as a smart investment that pays off both economically and socially.
Citing past and present examples, Osinbajo praised the efforts of former Lagos State Governor Lateef Jakande, who built over 30,000 homes between 1979 and 1983, and Borno State Governor Babagana Zulum, who added more than 12,000 units between 2019 and 2023. Despite financial challenges, both leaders were able to deliver results by planning well, buying materials in bulk, and hiring local contractors. Osinbajo noted that their success came down to political will and good strategy.
He also pushed for broader mortgage access that includes those working in the informal sector. To help with that, he recommended embracing digital platforms such as Proptech, which can simplify land registration and reduce fraud.
FIABCI Nigeria’s President Akin Opatola echoed Osinbajo’s call, saying real estate isn’t just about buildings it’s about people and progress. He described Lagos as a city full of energy and potential, ready to lead the way in innovation and sustainable development. In a message delivered at the event, FIABCI World President Ramon Riera said the congress marks a turning point, not just for Africa, but for the global property market. He said Lagos, with its fast growth and vibrant culture, is the perfect place to explore new ideas in real estate and push for a more inclusive, eco-conscious future.
