Nigeria’s real estate sector has the power to boost the economy, create jobs, and improve lives but experts say it’s being ignored. At a major event in Lagos hosted by PropertyPlus Magazine, top voices in the industry urged action before it’s too late.
Godwin Alenkhe, the national president of ERCAAN, believes Nigeria is ready for a property boom. He said there’s plenty of land, a large young population, and cities growing fast. But instead of building on these strengths, the country keeps running into the same old problems—slow land processing, poor policy direction, and confusing rules. These issues have made it harder for people to own homes and left millions without proper shelter.
Sabastine Onyewe, CEO of PropertyPlus, praised the government’s plan to build homes across all local government areas. But he said the private sector can’t afford to stay quiet. Developers, investors, and professionals must step up if the housing gap is going to shrink.
A government official at the event stressed the need for proper registration. She said all real estate agents and developers must register with the Lagos State Real Estate Regulatory Authority. Doing so builds trust and keeps the system clean.
Surveyor Ewenla Mustapha gave some big-picture insights. He said real estate added more to Nigeria’s economy this year than last up to 5.6% of the national GDP. He sees big demand for homes and commercial buildings, which means there’s room to grow. But the road is full of potholes. High costs, legal delays, bad roads, and outdated laws hold everything back.
Mustapha urged both government and private players to come together. If they fix the system and remove the roadblocks, real estate could become one of the biggest drivers of growth in the country.
