The President of the International Real Estate Federation (FIABCI), Nigeria, Ayodeji Odeleye, has pledged to position Nigeria as a major destination for international real estate investment.

Odeleye spoke in Lagos during his induction as president of the Nigerian chapter. Sixteen new members were also inducted at the event.

He said Nigeria has strong potential to attract foreign investment through real estate. He added that the country could become a major player in Africa’s property market.

FIABCI World Congress

Odeleye pointed to the successful hosting of FIABCI’s 75th World Congress in Lagos as proof of Nigeria’s potential.

The event was the first FIABCI World Congress to be held in Africa. Odeleye said the congress showed that Nigeria could host major global real estate events.

He said the event also gave Nigerian professionals greater visibility within the international property industry.

According to him, his administration will focus on turning FIABCI’s global network into business and investment opportunities for members.

He also wants Nigerian professionals to gain more access to international knowledge and partnerships.

Odeleye said Nigeria should have a stronger voice in global discussions about the future of African real estate.

Focus on Young Professionals

The new FIABCI Nigeria president also announced plans to expand the chapter’s membership.

He said the association would introduce a mentorship programme for younger professionals. The programme will focus on skills, training and international exposure.

He said these efforts would help members compete for business opportunities both in Nigeria and abroad.

Odeleye also promised to strengthen the chapter’s institutional structure. He said his administration would promote transparency, unity and greater participation among members.

Wider Participation

The FIABCI Nigeria president said the association should not be seen as an organisation based in only one city.

He called for members in Abuja, Port Harcourt and other parts of the country to take part in the chapter’s activities.

A wider membership base could help the association connect more professionals across Nigeria’s property market. It could also improve the sharing of knowledge and business opportunities within the sector.

Building Communities, Not Just Estates

Odeleye also called for a broader approach to property development.

He said developers should look beyond building estates and focus on creating functional communities.

This approach requires attention to roads, water, power, transport and other basic infrastructure. It also requires closer cooperation between developers and government agencies.

For Nigeria’s housing sector, this is important because housing development is closely linked to infrastructure and urban planning. New homes cannot function as complete communities without access to basic services and supporting infrastructure.

Stronger Government Engagement

Odeleye said FIABCI members have access to international professionals and global industry practices.

The association regularly engages with international colleagues through webinars and other professional activities.

He said the knowledge gained from these engagements could be shared with government officials. This could support better decisions on housing, infrastructure and urban development.

The Federal Ministry of Housing and Urban Development has responsibilities covering housing and urban development in Nigeria. Better cooperation between government and property professionals can support more informed approaches to development.

Opatola Commended

Odeleye also praised the immediate past president, Akin Opatola, for his leadership of the Nigerian chapter.

He credited Opatola with promoting an inclusive approach during his tenure. His administration also led the chapter through the 75th FIABCI World Congress in Lagos.

Opatola also encouraged collaboration between FIABCI Nigeria and relevant government agencies.

Real Estate and Nigeria’s Investment Future

Real estate remains important to Nigeria’s housing, construction and urban development needs. The sector also provides opportunities for domestic and international investors.

Odeleye’s focus on international partnerships could help connect Nigerian professionals with investors, developers and property experts from other markets.

For Nigeria to attract more investment, however, real estate growth must go alongside strong infrastructure, effective planning and better cooperation between the public and private sectors.

The FIABCI Nigeria leadership is now seeking to use its international network to expand business opportunities, improve professional development and strengthen Nigeria’s position in the global real estate industry.

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Experts under the International Real Estate Federation (FIABCI) have called for urgent adoption of integrated development frameworks, including Public-Private-People-Policy-Partnerships (5P), to address Nigeria’s worsening housing crisis.

The call was made by FIABCI Nigeria Chapter President, Akin Opatola, at the FIABCI Spring Symposium held at the United Nations headquarters in New York, where global real estate leaders and policymakers gathered to discuss housing challenges.

Housing Must Be Seen as Economic Infrastructure

Opatola urged policymakers to stop treating housing as a welfare issue, stressing that it is a core driver of economic participation, social stability, health outcomes, and human dignity.

He noted that Nigeria’s housing deficit currently stands at about 28 million units and could more than double by 2050 if urgent reforms are not implemented.

He added that over 60 per cent of urban residents already live in substandard or informal housing, reflecting a systemic crisis rather than a simple supply shortage.

Structural Failures Driving the Crisis

Opatola identified three major structural challenges: land administration, housing finance, and construction costs.

He criticised the Land Use Act of 1978, noting that over 90 per cent of land in Nigeria lacks formal title, making it unusable as collateral.

“No collateral means no mortgage. No mortgage means housing becomes a cash transaction available only to high-income earners,” he said.

He also highlighted Nigeria’s weak mortgage system, where penetration remains below 1 per cent of GDP and interest rates range between 25 and 30 per cent, making homeownership inaccessible for most citizens.

On construction, he pointed to import dependency, foreign exchange volatility, and infrastructure deficits as major cost drivers.

Government Efforts and Funding Gap

Opatola acknowledged ongoing government initiatives, including the Renewed Hope Cities and Estates Programme, targeting 50,000 housing units nationwide, with over 10,000 units currently under construction across 14 locations.

He also referenced the MOFI Real Estate Investment Fund, designed to expand mortgage access at reduced interest rates of about 9.75 per cent.

However, he warned that the 2025 housing budget of N11.5 billion for 20,000 units highlights a severe financing gap that limits large-scale impact.

Reform Agenda Proposed

To address the crisis, FIABCI called for:

• Digitisation of land administration systems
• Faster land title registration
• Introduction of strata title legislation for apartment ownership
• Tax incentives for mass housing developers
• Infrastructure support for housing estates
• Structured Public-Private partnerships that share risk

Opatola also urged global institutions such as UN-Habitat, World Bank, and IFC to support reforms and help mobilise pension funds into housing finance.

He stressed that Nigeria’s urban informality is not cultural but a result of long-standing policy failure.

Global Call for Collaboration

FIABCI World President, Antonio Campagnoli, noted that housing challenges are global, including affordability gaps, supply shortages, and policy misalignment.

He called for stronger 5P collaboration models where governments, private investors, institutions, and communities jointly develop scalable housing solutions.

Campagnoli also emphasised the need for better data and impact measurement in housing delivery, describing housing as critical social infrastructure that links financial sustainability with social outcomes.

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At a major real estate summit in Lagos, former Vice President Yemi Osinbajo called for better housing practices that protect the environment and serve more people. Speaking at the 75th World Congress of the International Real Estate Federation (FIABCI), he said Nigeria must rethink how homes are built.

He explained that using local materials and climate-friendly designs is now a necessity, not a luxury. Osinbajo said homes must meet the needs of both the people and the planet. He stressed that housing should not be for the rich alone, but for everyone including those in the informal sector.

Osinbajo praised past leaders who achieved results despite financial limits. He mentioned former Lagos Governor Lateef Jakande, who built over 30,000 homes in four years. He also praised Borno State Governor Babagana Zulum for delivering more than 12,000 housing units in just four years. He said both leaders succeeded because they had strong political will, planned carefully, and used local workers and materials.

He also urged banks and the government to make mortgages easier to access. He said digital tools like Proptech can help reduce fraud and speed up land registration.

FIABCI Nigeria President Akin Opatola supported Osinbajo’s message. He said real estate is about improving lives, not just putting up buildings. He believes Lagos has the drive to lead in innovation and sustainable growth.

FIABCI World President Ramon Riera also praised Lagos. He said the city is growing fast and full of new ideas. In his view, Lagos is the right place to shape the future of real estate in Africa and beyond.

Governor Babajide Sanwo-Olu joined the event and restated his commitment to solving Lagos’ housing problems. He said his government is working on new ways to make homes easier to get and more affordable.

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Speaking at the 75th World Real Estate Congress organized by the International Real Estate Federation (FIABCI) in Lagos, Osinbajo called for a shift in how real estate professionals approach housing development — from profit-driven motives to people-centered solutions that respond to human dignity and climate concerns.

He emphasized that access to shelter should be regarded as a basic human right, not just a commercial opportunity, and urged real estate stakeholders to embrace their role as social architects rather than merely builders. According to him, Nigeria’s population is growing by six million annually — a demographic trend that continues to outpace housing supply, particularly in urban areas.

“The goal should not be about constructing buildings alone, but about creating communities where people can live safely and with dignity,” Osinbajo said. He added that climate change, conflict, and affordability constraints have compounded the housing deficit, which now stands at over 50 million units across Africa.

He noted that with urbanization accelerating and more than 60 percent of Africa’s population projected to live in cities by 2050, the time to rethink housing strategies is now. Osinbajo called on industry players to integrate sustainable practices that reduce environmental impact while expanding access to decent and affordable homes.

Echoing this message, FIABCI Nigeria President Akin Opatola remarked that housing solutions must prioritize both progress and people. “Lagos exemplifies the kind of urban energy and innovation needed to drive future-forward real estate development,” he said.

FIABCI World President Ramon Riera also praised Lagos as a dynamic venue for the congress, saying it reflected the continent’s potential to shape a more inclusive and environmentally responsible property market.

The conference highlighted the growing consensus that housing should be treated not merely as a financial asset but as a cornerstone for equity, resilience, and inclusive growth.

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Lagos State Governor Babajide Sanwo-Olu has restated his commitment to fixing the city’s housing challenges.

Speaking at the 75th World Congress of the International Real Estate Federation (FIABCI), he highlighted new strategies aimed at making homes more available and affordable. The summit, held on Victoria Island and themed “Global Real Estate Renaissance,” attracted real estate leaders from around the world.

A Clear Plan for Affordable Housing
The governor, represented by Housing Commissioner Moruf Akinderu-Fatai, said housing is not just about shelter. It also supports jobs, income, and stable communities. He explained that his government has delivered nearly 10,000 homes in the past six years. An additional 14,000 units are planned by 2026.

Working with the Private Sector
Sanwo-Olu stressed the importance of working with private developers. His administration has created an environment that supports Public-Private Partnerships (PPPs). This approach helps speed up housing projects and makes homes more affordable, especially for low- and middle-income earners.

Lagos Looks to the Future
Lagos is also learning from global trends. The state is using modern tools and green practices in its housing plans. The goal is not just to build homes, but to build better neighborhoods. These include cleaner energy, improved building materials, and smarter planning.

Lagos Invites Global Partners
Sanwo-Olu used the summit to call for more international investment. He said Lagos is open to working with global partners who share its vision for sustainable cities. He assured guests that Lagos is committed to high standards and long-term solutions.

A Strong National Presence
The event also drew attention from Nigeria’s top leaders. President Bola Tinubu was represented by Defence Minister Mohammed Badaru. Former Vice President Professor Yemi Osinbajo gave the keynote address. Their presence showed strong national support for Lagos’s real estate efforts.

A City Ready to Lead
Sanwo-Olu’s message was clear: Lagos is taking action. With a clear plan, strong partnerships, and a focus on the future, the city is ready to lead in real estate and urban growth not just in Nigeria, but across Africa.

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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.

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Speaking during a visit by representatives of the International Real Estate Federation (FIABCI-Nigeria), Sanwo-Olu stated that while the state will continue to provide a clear policy framework, the private sector must take the lead in investing and innovating.

The governor noted that strategic reforms in physical planning and urban development are already being implemented to reduce incidents of building collapse. He added that technology remains a central tool in managing Lagos’s rapid urban growth.

Sanwo-Olu also pledged support for the upcoming FIABCI World Real Estate Congress, set to take place in Lagos from July 9 to 13. This marks the first time the global event will be held in Sub-Saharan Africa.

According to FIABCI Africa and Near East President, Adeniji Adele, the conference is expected to attract over 400 top-level participants from more than 40 countries. He described Lagos as a fitting choice for the congress due to its leadership in real estate reform, infrastructure development, and tech-driven innovation.

The 2025 congress, themed “Global Real Estate Renaissance”, will explore key industry trends, including property technology (PropTech), with Lagos positioned as a major contributor to shaping the future of real estate in Africa.

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