Rising Building Material Costs Put Fresh Pressure on Nigeria’s Real Estate Market

Rising building material costs are putting increasing pressure on the viability of real estate projects in Nigeria, forcing developers to reassess budgets, pricing and construction strategies as the cost of delivering new housing continues to climb.

The rising cost of construction is affecting one of the most important aspects of the property market, the ability of developers to deliver homes at prices that buyers and tenants can afford.

For developers, the pressure goes beyond the price of building materials. Higher input costs are coming alongside expensive financing, land acquisition, labour, energy, transportation and other development expenses, making it increasingly difficult to maintain the financial viability of projects.

Building materials account for a substantial portion of construction expenditure. As a result, significant changes in the prices of cement, steel, roofing materials, fittings, tiles, glass and other inputs can quickly change the economics of a housing project.

When costs increase after a development has already been planned or launched, developers are faced with difficult decisions.

They may have to absorb some of the additional costs, revise specifications, slow down construction, postpone projects or increase selling prices.

Each option carries implications for project profitability, delivery timelines and the ability of the market to absorb the completed properties.

Affordable housing faces greater pressure

The challenge is particularly significant for projects targeting low- and middle-income households.

Developers operating in this segment have limited room to increase prices because affordability is already one of the major constraints affecting effective demand for housing.

Recent industry reports have similarly linked rising prices of cement, steel, sand, wood and other construction inputs to delays, scaling down and, in some cases, suspension of housing projects.

Cement prices have been particularly important to the cost pressures facing developers.

Recent industry data cited by the Real Estate Developers Association of Nigeria showed that the price of a 50kg bag of cement, which was around N7,500 in the final quarter of 2025, increased to between N9,000 and N10,000 early in 2026 and subsequently reached between N11,500 and N15,000 in several parts of the country.

Other construction materials have also recorded increases.

A recent report by Panterra Real Estate Group found that prices of some key structural and finishing materials had risen by hundreds of percentage points from their 2019 levels, with iron rods and other materials among those experiencing substantial increases.

Developers reassess project viability

The effect of rising material prices is not limited to individual construction inputs.

Developers must account for the combined impact of materials, land, finance, labour, infrastructure and logistics when determining whether a project can be completed profitably.

Industry stakeholders have said this is making it more difficult to predict the final cost of developments, particularly for projects with long construction periods.

A project that appears financially viable at the planning stage can become more expensive to complete if the prices of major inputs rise significantly during construction.

This creates additional uncertainty for developers, particularly when properties have already been marketed or sold at prices based on earlier cost estimates.

Developers may therefore have to review their construction specifications, procurement strategies and project timelines to manage the impact of changing prices.

Impact on homebuyers and tenants

The pressure on developers can eventually affect consumers.

Where developers are unable to absorb higher construction costs, some of the additional expenses may be reflected in the prices of newly completed properties.

This can make homeownership more difficult for households that are already struggling with limited incomes and high financing costs.

The rental market can also be affected because landlords and property investors may seek to recover higher development and maintenance costs through rents.

Recent reporting has linked rising development costs in major Nigerian cities to increases in residential rents, particularly in Lagos and Abuja.

For prospective homeowners, the combination of higher property prices and expensive mortgage financing can further widen the gap between household incomes and the cost of purchasing a home.

Housing supply could also be affected

Another concern is the potential effect of rising construction costs on the volume of housing delivered to the market.

If developers postpone projects or reduce the scale of planned developments because of rising costs, fewer new homes may enter the market.

This is particularly significant for Nigeria, where demand for housing continues to grow as the population expands and more people move into urban centres.

The pressure on supply could become more pronounced if affordable housing projects are disproportionately affected because such projects generally operate within tighter price and profit margins.

Industry stakeholders have therefore continued to call for measures capable of stabilising the building materials market and supporting housing delivery.

Imported materials add to the pressure

The cost of building materials is also influenced by Nigeria’s exposure to imported construction products.

A Panterra report noted that between 60 and 80 per cent of some finishing materials, including tiles, sanitary ware and window fittings, are imported. It linked the price increases to factors including currency depreciation, import exposure and rising production costs.

Changes in foreign exchange conditions can therefore affect the cost of materials and components that developers depend on.

For developers, this can make budgeting more difficult and increase the risk of cost overruns, especially on projects that require imported finishing materials.

Industry calls for intervention

The Real Estate Developers Association of Nigeria has called for greater engagement between government and stakeholders across the building materials value chain to address price instability.

REDAN President, Oba Akintoye Adeoye, has warned that the combined effect of rising construction costs is putting financial pressure on developers and contributing to project delays, scaling down and suspension.

The association has also raised concerns that persistent cost increases could make homeownership more difficult for Nigerians and potentially encourage the use of substandard materials by individuals seeking to reduce construction expenses.

Recent industry reports have similarly called attention to the need for greater local production and measures that can reduce dependence on imported construction inputs.

Real estate sector faces a difficult balance

Nigeria’s real estate sector is therefore facing a difficult balance between rising development costs and the need to keep homes within the reach of buyers and tenants.

Developers must continue to manage land, financing, labour, materials, infrastructure and logistics while responding to changing purchasing power.

For the wider housing market, the challenge extends beyond developers.

Higher construction costs can affect housing supply, property prices, rents, mortgage affordability and the pace at which new developments are delivered.

As Nigeria continues to require more housing, the stability and affordability of construction inputs will remain an important factor in determining how quickly developers can bring new homes to the market.

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AceRoyal Unveils 1,000-Home Villa Nova Estate in Abijo

AceRoyal Estates, a subsidiary of AceRoyal Group, has launched Villa Nova, a master-planned residential community featuring 1,000 villa-style bungalows in Abijo, Lagos.

The development is designed to expand access to homeownership through secure and fully titled properties, structured financing and delivery guarantees, with the broader objective of contributing to efforts to address Nigeria’s housing deficit. 

Villa Nova offers two-bedroom, three-bedroom and five-bedroom bungalow configurations within a fully secured and professionally managed environment.

According to AceRoyal Estates, the project was developed in response to some of the longstanding challenges facing Nigeria’s real estate sector, particularly land title disputes, delays in project completion and inadequate infrastructure.

The company said the development is built around a three-way structure involving government support, banking participation and private-sector development execution.

Under the arrangement, the Lagos State Government provides backing for the land title and supporting infrastructure at the site, while Nova Bank serves as the project’s primary financial partner.

The bank is providing structured mortgage plans for qualified homebuyers. The financing arrangement also includes a full refund guarantee for eligible buyers if the developer fails to meet the scheduled delivery timelines. 

Project Built Around Title, Financing and Delivery

The Villa Nova development places three key elements at the centre of its model: verified land title, access to structured mortgage financing and accountability for delivery.

AceRoyal Estates said aligning government support, institutional financing and private development execution from the beginning is intended to address some of the concerns that prospective property buyers face when purchasing homes.

The company said the structure is also designed to improve buyer confidence in large-scale residential developments across Lagos State.

Speaking at the launch, the Chief Executive Officer of AceRoyal Estates, Dr. Endurance Cletus Agonor, described Villa Nova as an example of the company’s approach to discipline and accountability in residential development.

Agonor said the project involved building 1,000 homes to a common standard while ensuring that land title, financing and project execution were aligned from the beginning.

He said the company intends the development to establish a standard for what homebuyers should expect from property developers in Nigeria. 

Structured Mortgages for Qualified Buyers

Mortgage financing is a major component of the Villa Nova proposition.

Through Nova Bank’s participation in the project, qualified buyers can access structured mortgage plans to finance their homes.

The arrangement is intended to reduce the need for prospective homeowners to provide the entire purchase price upfront and provide a financing structure through which eligible buyers can spread the cost of acquiring their homes.

The delivery guarantee is another component of the model.

AceRoyal Estates said eligible buyers would be protected by a full refund guarantee if the developer fails to meet agreed delivery timelines, subject to the applicable terms and conditions.

The company said the combination of title security, financing and delivery accountability is intended to address three major concerns in the property market: whether the land is properly titled, whether buyers can access sustainable financing and whether purchased homes will be delivered as promised. 

Large-Scale Housing Development in Lagos

Villa Nova represents a move by AceRoyal Estates into large-scale residential development, with the project planned as a single master-planned community rather than a collection of individually developed properties.

The development comes as Lagos continues to experience strong demand for residential accommodation, particularly along emerging growth corridors where housing developments are expanding.

The broader housing challenge extends beyond simply increasing the number of units available.

For prospective homeowners, factors including financing, land documentation, infrastructure and project delivery can determine whether a property purchase ultimately results in actual homeownership.

Villa Nova has been structured around these issues, with the developer seeking to combine housing supply with financing and delivery assurances. 

BusinessDay previously reported that Nigeria’s effective housing deficit could approach 28 million units when structurally deficient and substandard housing is included alongside the official deficit figure. Lagos is among the country’s areas facing significant housing demand, with population growth, urbanisation and limited available land adding pressure to the market. 

AceRoyal Group’s Real Estate Expansion

Founded in 2016, AceRoyal Group is a Nigerian conglomerate with interests in real estate, construction, financial services and hospitality, as well as an expanding international presence.

Its real estate subsidiary, AceRoyal Estates, focuses on property development and on expanding access to property ownership through residential and other real estate projects.

The company also operates in areas including land sales, commercial developments, estate and facility management, real estate investment advisory, valuation, surveying, property documentation and regularisation.

AceRoyal Estates has previously undertaken residential projects, including Eko Paragon Residence, a 105-unit development delivered in partnership with the Lagos State Development and Property Corporation.

The company currently operates across Lagos, Abuja, Oyo, Enugu and Edo, according to information provided about its operations.

What Villa Nova Offers

The Villa Nova project offers buyers a choice of two-bedroom, three-bedroom and five-bedroom bungalow configurations.

The homes are planned within a gated and professionally managed community, while the project structure includes land-title support, mortgage financing for qualified buyers and delivery guarantees.

The development therefore combines the physical delivery of residential units with financial and documentation arrangements intended to give buyers greater certainty throughout the acquisition process.

For AceRoyal Estates, the project provides an opportunity to demonstrate whether this integrated approach can be implemented successfully across a 1,000-home development.

For Lagos, the project adds another large-scale residential development to the state’s expanding housing pipeline at a time when demand for homes continues to put pressure on available supply.

The success of the development will ultimately depend on the execution of the project, delivery of the planned homes and the ability of qualified buyers to access the financing and other arrangements attached to the development.

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Property Brokers Face Scrutiny as Rising Markups Push House Prices Higher

Nigeria’s real estate market continues to record soaring property prices, with activities by brokers in short-let apartments, property flipping and speculative investments adding pressure to an already strained market and further weakening housing affordability.

However, experts have differing views on how much influence brokers have over rising prices. While some acknowledge that brokers play a role in pushing prices higher, others point to increasing costs of land, cement, steel, labour, diesel, imported materials, financing, infrastructure and statutory charges as the major factors behind the increases.

For decades, traditional estate agents in Nigeria earned commissions by connecting willing buyers with sellers. But a new category of property brokers is increasingly emerging across Lagos and other major cities, becoming more involved in the property pricing process.

Rather than waiting for property owners to give them houses or plots to market, these brokers search for properties they believe are undervalued, negotiate directly with owners, secure agreements, add their own margins and then look for buyers.

Some acquire properties outright and resell them, while others secure control of properties and sell their interests before the transactions are completed.

Some brokers specialise in distressed properties, while others focus on land in emerging locations, off-plan apartments or houses that can be renovated and repositioned for a higher value.

The business model is straightforward: acquire or control a property at one price and sell or exit at a higher price.

The practice is attracting greater attention as Nigeria’s property market deals with high land prices, rising construction costs, limited housing supply and increasing rents. This has raised questions among property professionals and consumers about whether brokers are simply responding to rising prices or adding another layer of inflation to the market.

The growing interest in this model is partly driven by the returns available from property appreciation. Under the traditional agency model, an estate agent could earn a percentage of a N100 million transaction as commission.

Under the newer brokerage model, a broker who acquires the same property for N85 million and resells it for N100 million could potentially make N15 million before accounting for transaction and holding costs.

This means the incentive is no longer limited to completing transactions. Brokers also have an incentive to identify properties that can be acquired cheaply, controlled and resold at a higher price.

The distinction is becoming more significant in Lagos, where property values have increased sharply in several locations.

The 2026 Lagos Real Estate Industry Report by Agusto & Company estimated that land prices within five kilometres of the Lekki-Epe corridor increased by between 25 and 40 per cent from the first quarter of 2025 to the first quarter of 2026.

In Ibeju-Lekki, land prices reportedly rose from about N15 million per plot in 2024 to as much as N35 million in 2026.

Some locations have recorded even more dramatic increases.

Data from Lagos’ coastal property market showed that land values in the Bluewater-Okunde area increased from approximately N329,000 per square metre in 2021 to between N2.5 million and N2.8 million in 2026. That represents an increase of between 660 and 751 per cent, with the growth linked to major infrastructure and investment projects around the coastline.

Such appreciation can attract speculators, while each transaction may subsequently become a reference point for the next asking price.

For example, a homeowner may be willing to sell a property for N100 million, while an intermediary negotiates the price down to N90 million and subsequently resells it for N105 million or N110 million.

The next buyer may then use the higher resale figure as an indication of the property’s market value.

This can create a chain of mark-ups even when there has been no improvement or development on the property.

The situation is further complicated by limited reliable data on actual property transaction prices. Nigeria does not have a centralised mandatory registry for completed property transactions, while market reports often make a distinction between asking prices and the prices at which properties are actually sold.

Short-lets add another layer

Short-let apartments have introduced another dimension to the pressure on property prices, particularly in Lagos.

A conventional two- or three-bedroom apartment is increasingly being valued not only according to what a long-term tenant can afford to pay annually, but also according to the income it could generate from short-term occupants.

According to the Lagos Short-let Market Report 2025 by Edala Development, the Lagos short-let market generated an estimated N281.03 billion in revenue in 2025.

The report was based on 5,806 listings and projected revenue of approximately N285.5 billion for 2026. It also found that short-let properties can generate returns between three and six times higher than conventional residential leases.

Instead of relying on annual rent, an investor can furnish an apartment and market it for nightly or weekly stays.

For brokers, this provides another selling point because the property can be presented not simply as a home, but as an income-generating hospitality asset.

The calculation is influencing property values in areas including Lekki, Victoria Island, Ikoyi, Ikeja, Yaba and Surulere.

In Banana Island, the average short-let rate reportedly reached about N329,000 per night in 2025.

Such potential returns can encourage investors to value apartments based on their short-let earning capacity rather than conventional rental income, creating additional pressure on both property values and rents.

The growth of short-lets also has implications for housing supply.

Every conventional apartment converted into short-let accommodation potentially removes a unit from the long-term rental market.

A June 2026 report by The Guardian cited concerns from industry stakeholders that the conversion of residential properties into short-lets in Lagos and other major cities is contributing to the decline in conventional rental stock and rising housing costs.

Technology changes the brokerage market

Technology is also transforming the way property brokers operate.

Online listing platforms, digital advertising, social media, property mapping tools and faster access to market information allow brokers to circulate properties to thousands of prospective buyers within a short period.

While these tools can encourage greater professionalism in the sector, they can also create perceptions of scarcity and competition.

Brokers can advertise properties aggressively, circulate listings through WhatsApp groups and social media, generate multiple expressions of interest and create a sense of urgency that may encourage prospective buyers to increase their offers.

Registered estate agents, however, have differing views about the extent of brokers’ influence on property prices.

While some acknowledge that brokers contribute to rising prices, others attribute the increases largely to the rising costs of land, cement, steel, labour, diesel, imported materials, financing, infrastructure and statutory charges.

Vice Chairman, International, of the Association of Estate Agents in Nigeria (AEAN), Dr Adeniyi Tinubu, said brokers contribute to the rapid increase in Lagos property prices but described them more as “price amplifiers” than price-setters.

According to him, land scarcity, inflation and exchange-rate pressures remain the fundamental forces behind the market’s price increases.

“Property brokers, flippers and speculative investors are not simply passive observers of Lagos’ property boom. They can actively accelerate it. But they operate on top of powerful fundamental forces rather than creating the entire increase themselves,” Tinubu said.

Tinubu, who is also the Chief Executive Officer of Hudders Field Property Agency, said brokers contribute to property price inflation through expectation-driven pricing.

He explained that asking prices are often based on the prices at which neighbouring properties are listed rather than what those properties actually sold for.

He also pointed to multiple agency commissions, information gaps between property owners and buyers, and expectations of future appreciation as factors contributing to the trend.

“This creates an important distinction between asking prices and transaction prices,” he said.

“A market can appear to be appreciating rapidly because advertised prices are repeatedly marked upward, even when actual completed transactions have not increased by the same magnitude.”

Tinubu said property flippers have a more direct impact on prices, while land speculation represents the strongest inflationary mechanism.

According to him, investors who purchase land solely in anticipation of future appreciation effectively remove the land from productive supply while waiting for its value to increase.

“The more concerning phenomenon is speculative land holding combined with aggressive asking-price benchmarking. It can create a market in which anticipated future prices become the basis for today’s prices, rather than today’s prices being determined primarily by rental income, replacement cost and genuine end-user demand,” he said.

He added that buying properties for quick resale, particularly off-plan units and land in emerging areas, could push prices beyond underlying incomes, reduce access to homeownership, increase unaffordability and distort the rental market.

However, Tinubu cautioned against viewing every property investor as harmful.

He noted that speculative capital can provide early-stage funding for developers, help bring neglected land into the formal market, accelerate infrastructure and development, reduce financing risks, improve distressed properties and increase liquidity in the market.

“The critical distinction is between productive investment and purely extractive speculation,” he said.

“An investor who buys off-plan, holds the property, rents it out or develops it contributes to housing supply. An investor who simply buys scarce land, does nothing with it and resells it at a substantial markup contributes much less to housing supply while potentially increasing the acquisition cost for the eventual user.”

The National Chairman of AEAN, Olugbenga Ismail, also said speculation can amplify an already rising property market.

“Where properties and plots are repeatedly resold over short periods without any corresponding improvement, development or value addition, each transaction may introduce another layer of expected profit,” Ismail said.

He explained that the issue becomes more pronounced in emerging areas where investors buy properties largely on the expectation that another buyer will later pay more.

When speculation begins to outpace housing production, genuine homebuyers have to compete not only with other prospective homeowners but also with investors seeking capital appreciation.

Ismail, who is Principal Partner at Ismail and Partners, acknowledged that short-lets can reduce conventional rental supply in particular neighbourhoods.

However, he cautioned against attributing rent increases across Lagos entirely to the short-let sector without stronger empirical evidence.

“There is also evidence that landlords and investors have converted conventional rental accommodation into short-lets because of potentially higher returns and different tenancy-risk considerations,” he said.

“But the evidence is more nuanced than simply saying, ‘short-lets are increasing everywhere and therefore rents are rising.’”

Ismail called for greater transparency, professionalism and increased housing supply rather than direct price controls.

“The ultimate solution to housing affordability is not simply stopping somebody from selling property at a profit. It is ensuring that Lagos continually produces enough properly titled, serviced and appropriately priced housing to meet demand,” he said.

“Our long-term goal must therefore be greater supply, better data, stronger professional standards and a more transparent property market,” he added.

The Chairman of the Lagos State Chapter of AEAN, Abiodun Adelaja, attributed the steady increase in property prices largely to the rising cost of construction materials and general inflation.

He said landlords and developers determine property prices based on prevailing construction costs, making it difficult for them to sell properties at prices comparable to those charged several years ago.

Adelaja called for measures to reduce construction costs and greater government intervention through the development of public housing estates that would provide more affordable alternatives to privately developed estates.

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Edala Development Appoints Advisory Board to Strengthen Governance and Property Expansion

Edala Development has appointed an Advisory Board to guide its expansion in Nigeria’s property market, strengthen corporate governance and build investor confidence.

The company introduced the board during its Investor Summit, themed “From Vision to Value.” The event brought together investors, property professionals, business partners and other stakeholders to discuss investment opportunities and developments in the real estate sector.

The appointments form part of Edala Development’s efforts to establish a stronger institutional structure as it grows its residential, hospitality and commercial property portfolio.

The board comprises professionals whose experience spans investment, business development, strategic partnerships and academia.

Among the members is Gbenga Ademulegun, who brings experience in investment and strategic business management. Olalekan Awosanya contributes expertise in leadership, business development and strategic partnerships.

Professor Joseph Ezigbo also joins the board, bringing academic and professional perspectives to decision-making, innovation and sustainable development.

According to the company, the Advisory Board will provide guidance on major business decisions, investor relations and expansion plans. Its work will also support the development of a more structured platform for real estate investment.

Edala Development said the appointments reflect its commitment to building the organisational foundations needed for sustained growth.

Beyond the board’s introduction, the summit gave investors and partners an opportunity to review the company’s growth strategy and upcoming projects. Participants also received updates on investment opportunities emerging within Nigeria’s property market.

The company said it has been expanding its presence through projects in Lagos and Ibadan. It plans to grow its portfolio further while widening access to real estate investment opportunities.

Its leadership said creating lasting value for investors would remain a priority, alongside responding to demand across different property segments.

The new advisory structure is intended to support those ambitions by bringing additional professional experience into the company’s strategic planning and investment decisions.

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The dream of building a personal home is becoming increasingly difficult for young Nigerians as rising construction costs, expensive land, limited mortgage access and declining purchasing power combine to weaken housing affordability.

For many young people, securing employment and maintaining regular savings no longer provide a reliable path to homeownership. A growing proportion of household income is now spent on food, rent, transportation, electricity and other necessities, leaving little for land acquisition or construction.

A 2024 savings report by PiggyVest indicated that 65 per cent of Nigerians surveyed either earned below ₦100,000 monthly or had no income.

Only 57 per cent reportedly had some form of financial safety net, down from 64 per cent in the preceding year. The report also found that just 15 per cent had increased their savings, while 19 per cent of those who previously maintained emergency funds had lost them.

The income challenge has been compounded by sharp increases in the prices of essential building materials.

A March 2026 market report placed the price of a 50-kilogramme bag of cement at between ₦11,500 and ₦15,000, compared with about ₦2,500 to ₦3,000 in 2019.

This represents an increase of as much as 367 per cent within seven years.

For a residential project requiring hundreds of bags of cement, the price difference can add several millions of naira to the construction budget.

Other building inputs, including reinforcement steel, sand, granite, roofing sheets, tiles, electrical materials and plumbing products, have also recorded substantial price increases.

Some major building materials reportedly rose by more than 60 per cent, with the increase attributed to inflation, exchange-rate instability, transportation expenses, taxes and higher production costs.

These price changes create severe difficulties for individuals constructing their homes in phases. A budget prepared at the foundation stage may no longer be realistic by the time the owner is ready to begin roofing or finishing work.

Land acquisition presents another major obstacle. In Lagos, Abuja and other rapidly growing urban centres, the cost of land can consume a substantial portion of a young worker’s lifetime savings before construction even begins.

Prospective homeowners must also pay for surveys, title documentation, planning approvals, architectural drawings and other preliminary requirements.

Borrowing is equally difficult. Commercial interest rates remain too high for many individuals seeking loans to build or purchase residential properties.

Although mortgage products are available, eligibility conditions, equity contributions, property-documentation requirements and repayment obligations can exclude workers with modest or irregular incomes.

Labour and professional services add another layer of expense. Residential construction requires masons, carpenters, plumbers, electricians, roofers, painters and tilers.

Developers and individual builders must also engage qualified architects, engineers and quantity surveyors to ensure that projects comply with planning requirements and safety standards.

Attempts to reduce costs by avoiding competent professionals can expose homeowners to defective construction, project abandonment, building failure and future legal problems.

The seven major pressures affecting young prospective homeowners are declining disposable income, expensive cement, rising prices of other materials, high land costs, costly credit, increased labour and professional fees, and inflation during construction delays.

The situation underscores the need for housing policies that recognise the income realities of Nigeria’s young population.

Government interventions could include serviced land schemes, single-digit mortgages, rent-to-own programmes, housing cooperatives, affordable building-material initiatives and support for professionally managed incremental construction.

Reducing the cost of homeownership will require more than encouraging young Nigerians to save. It demands coordinated reforms covering land, finance, infrastructure, construction materials, wages and property documentation.

Without such reforms, owning a home could remain beyond the reach of millions of young Nigerians despite their willingness to work, plan and save.

The post 7 Factors Making It Harder for Young Nigerians to Build Homes in 2026 appeared first on Housing TV Africa.

Pan-African real estate development company, Mixta Africa, has called for a balanced regulatory framework that protects homebuyers while ensuring that credible developers retain access to sustainable construction finance.

The company expressed support for the Federal Government’s proposed National Housing and Built Environment Regulation Policy and the planned establishment of a National Housing Industry Regulatory Commission.

Mixta Africa said the reforms could improve transparency, strengthen consumer protection and restore confidence in Nigeria’s housing market if they are supported by clear and enforceable implementation standards.

Speaking to journalists in Lagos, the company’s Chief Commercial Officer, Tola Akinsulire, described the proposed licensing and escrow requirements as important measures for reducing the risks faced by Nigerians purchasing homes, particularly through off-plan arrangements.

He, however, cautioned that keeping buyers’ payments in escrow accounts would not be sufficient unless the release of funds was tied to independently verified construction progress.

According to Akinsulire, qualified building professionals should certify that developers have completed agreed project milestones before money is released. The verification process, he added, should be governed by clear standards and supported by an auditable record.

“Independent verification creates a clear link between construction progress, fund release and accountability,” he said.

The company noted that off-plan payments have traditionally provided a significant portion of the working capital used by legitimate developers to execute housing projects. Consequently, restricting access to such payments without creating alternative financing arrangements could affect housing delivery.

Akinsulire explained that although escrow arrangements could safeguard subscribers’ money, they could not independently provide the capital required to undertake construction.

He urged the government and financial institutions to develop appropriately structured and competitively priced construction finance products for credible developers operating under the proposed regulatory framework.

“Escrow can protect the homebuyer, but escrow on its own does not finance construction,” he said.

Mixta Africa warned that reforms designed to protect consumers must be carefully implemented to avoid slowing down the development of new homes or worsening Nigeria’s housing supply challenges.

The firm called for sustained consultations involving the Federal Government, financial institutions, property developers, professional bodies and other housing industry stakeholders.

It said collaboration among these groups would help establish a framework that combines strong consumer protection, responsible project management, effective regulatory oversight and adequate construction financing.

Mixta Africa maintained that the success of the proposed reforms would ultimately depend on whether the government could translate them into practical and enforceable standards.

According to the company, a properly designed regulatory system could make Nigeria’s housing sector more transparent, sustainable and attractive to investors while protecting buyers and supporting the continued delivery of new homes.

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The Minister of the Federal Capital Territory, Nyesom Wike, has ordered the immediate demolition of about 30 buildings blocking the Right of Way of Abuja’s Ring Road 3.

Wike gave the order on Thursday during an inspection of road projects linking Karsana District, Gwarinpa and the Kubwa axis.

The affected buildings sit within the corridor reserved for Ring Road 3 and its planned interchange. The area forms part of the infrastructure network covered by the Abuja Master Plan.

Wike Orders Immediate Action

The Acting Executive Secretary of the Federal Capital Development Authority (FCDA), Richard Dauda, drew Wike’s attention to the structures during the inspection.

Dauda told the minister that the buildings occupy land reserved for the Ring Road 3 project. Wike then called officials of the Department of Development Control to the site.

The minister ordered the officials to remove the structures without delay. He also questioned how developers had managed to build within a major road and interchange corridor.

Wike said the government could not allow private buildings to obstruct important public infrastructure.

Ring Road 3 Project Links Major Areas

The Ring Road 3 project forms part of Abuja’s wider road network. The route will connect Karsana District with the Kubwa Road corridor, also known as the Outer Northern Expressway (ONEX).

According to Dauda, the road will also extend towards Airport Road. A planned flyover will connect with the Ring Road 3 alignment as part of the project.

Dauda said construction of the second bridge on the corridor has also moved forward. He noted that workers had started the foundation despite the rocky terrain at the site.

The project team expects bridge construction to continue while work progresses on the wider road corridor.

Development Control Concerns

The discovery of buildings along the road corridor has raised fresh concerns about development control in the Federal Capital Territory.

Abuja relies on planned land use to protect space for roads, public facilities and other infrastructure. When private developments enter these areas, they can create problems for transport projects and urban planning.

The situation also carries risks for property buyers and developers. Investors who purchase or develop land without checking approved land use may face disputes, demolition or financial losses.

For this reason, property developers need to confirm land titles, planning approvals and Right of Way restrictions before starting construction.

Protecting the Abuja Master Plan

The FCT Administration has continued to stress the importance of enforcing the Abuja Master Plan. The plan provides a framework for land use and infrastructure development across the capital.

Wike’s directive shows that the administration intends to prevent buildings from blocking planned road projects. It also places renewed attention on the role of development control officials in monitoring construction.

The immediate removal of the affected buildings will clear the Ring Road 3 corridor for ongoing construction and interchange works.

The development highlights a wider issue facing fast-growing cities: the need to balance private property development with long-term infrastructure planning. Stronger land checks and effective development control can help reduce conflicts between property owners and major public projects.

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Wike Orders Investigation

The Minister of the Federal Capital Territory, Nyesom Wike, has ordered an investigation into FCT officials linked to illegal approvals for car dealerships in Abuja.

The officials include Directors in the Departments of Parks and Recreation, Environmental Protection, Traffic Management and Urban Affairs.

The FCT Head of Service, Nancy Sabanti Nathan, has summoned the affected officials. The investigation will examine their role in approving the use of green areas, parks and gardens for car lots.

Wike also ordered the immediate end of car dealership activities on green areas and other spaces meant for public recreation.

The FCT Administration announced the decision in a statement issued on Wednesday. Lere Olayinka, the minister’s Senior Special Assistant on Public Communications and Social Media, signed the statement.

Task Force to Enforce Ban

The minister has also ordered the creation of a task force to enforce the directive.

The team will monitor the affected areas and stop further unauthorised commercial activities. It will also check that businesses do not return to spaces reserved for parks, gardens and other public uses.

Wike raised concerns about the use of recreational areas for commercial purposes. Parts of Millennium Park and other green spaces have also come under attention.

The development has renewed questions about land use in Abuja. Green spaces form an important part of the city’s planning system. They also provide areas for recreation and help support better urban management.

Flooding Raises Planning Concerns

The FCT government’s latest action also links to recent flooding in Abuja.

Heavy rainfall caused flooding in parts of the capital last Saturday. Wike later inspected Maitama and other affected areas.

Following the inspections, the minister ordered the removal of illegal structures blocking drainage channels. He also warned against activities that could prevent the free movement of stormwater.

READ ALSO :Wike Targets Buildings Obstructing Waterways After Abuja Flooding

The use of green areas for commercial purposes has therefore become part of a wider discussion about Abuja’s drainage and urban planning.

Poor land-use control can put pressure on infrastructure. It can also reduce the space available for recreation and environmental management.

Abuja Master Plan Under Review

The Federal Capital Territory Administration has also announced plans to review the 1979 Abuja Master Plan.

The review will consider the city’s growing population and changing climate conditions. It will also look at whether existing infrastructure can meet the needs of the capital.

The Abuja Master Plan provides the basis for the city’s planned development. Its implementation affects housing, roads, drainage, public spaces and commercial development.

The review could therefore have wider implications for property developers and investors in the FCT.

Impact on Real Estate

The investigation also highlights the need for proper land-use approval in Abuja.

Property developers, investors and businesses must follow approved planning rules before using land for commercial purposes. Unauthorised changes can create legal and financial risks for property owners and investors.

The case also shows why strong urban planning matters to the housing and real estate sector. Abuja needs clear land-use rules to support orderly development as the city expands.

For residents, green areas and parks also provide important public spaces. Protecting these areas can support better urban planning and help maintain the city’s environmental balance.

The outcome of the investigation will determine whether any officials breached established procedures when they approved car dealership activities on land reserved for parks and recreation.

The wider issue remains the effective enforcement of Abuja’s land-use rules. Stronger enforcement could help the FCT protect public spaces, improve infrastructure planning and support more orderly property development.

The post Wike Orders Probe of FCT Officials Over Illegal Car Lot Approvals appeared first on Housing TV Africa.

Residents of Ikangba Community in Odogbolu Local Government Area of Ogun State have asked Governor Dapo Abiodun to intervene in a land dispute that they say threatens peace in the area.

The community made the appeal in Abeokuta. It accused some individuals of trying to take control of its ancestral land through intimidation. It also alleged that some security personnel had become involved in the dispute.

Prince Oluleye Olufemi Oluleye, Secretary of the Ikangba community, presented the community’s statement. He urged the governor to act quickly before the dispute leads to more violence.

Community Seeks Government Intervention

The community said security agencies had already taken steps to address the dispute.

According to the residents, two Ikangba indigenes were earlier arrested and detained at the Department of State Services (DSS) office in Abeokuta. The two men were later released after the community presented documents supporting its claim to the land.

READ MORE : Police Arrest Suspected Armed Robber, Land Grabber in Ibadan

The residents said DSS officials heard from both sides and reviewed the circumstances of the dispute. They said the agency then warned all parties against actions that could disrupt peace in the community.

However, the community alleged that the people it accused of land grabbing continued their activities after leaving the DSS office.

The residents also said the Ogun State Commissioner of Police intervened in the matter. According to the community, the commissioner invited the parties and heard their positions before warning those it described as land grabbers to stay away from the disputed property.

Residents Allege Fresh Threats

Despite these interventions, the community said tensions had continued.

The residents alleged cases of harassment, maiming and sporadic shootings around the disputed land. They said the incidents had created fear and raised concerns about the safety of people living in the area.

The community also raised concerns over the alleged involvement of the Idowa traditional institution. It specifically mentioned the Dagburewe of Idowa, Oba Sikiru Kayode Adefuwape.

The Ikangba people stressed that they were not asking the government or security agencies to decide the ownership of the land outside the legal process.

Instead, they want the authorities to conduct a full and impartial investigation. They also want all parties to receive protection while the competent authorities determine the ownership and status of the property.

Appeal to Security Agencies

The community asked Governor Abiodun to prevent the use of security personnel or private agents to intimidate any party involved in the dispute.

It also appealed to the DSS and the Nigeria Police Force to ensure that their personnel do not become involved in private land disputes.

The residents further called on the Ogun State Anti-Land Grabbing Task Force, the police, DSS and other relevant agencies to act quickly.

They said urgent action could help prevent further violence and protect lives and property.

Wider Impact on Real Estate

The dispute also highlights the importance of secure land ownership in Nigeria’s property market.

Unclear ownership can create risks for homeowners, developers and investors. Land disputes can also delay housing projects and make property transactions more difficult.

Strong land records, proper documentation and effective dispute resolution can help reduce such risks. These measures are important for communities as well as businesses involved in housing and real estate development.

The Ikangba community said it had contacted relevant authorities over the matter. It said it decided to speak publicly because of concerns that the dispute could lead to further violence.

The residents urged all parties to avoid confrontation. They called for the ownership and status of the disputed land to be determined through due process.

The community also appealed to the government and security agencies to act before the dispute causes further harm to residents and property.

The post Ikangba Community Seeks Ogun Governor’s Intervention Over Land Dispute appeared first on Housing TV Africa.

The Minister of the Federal Capital Territory, Nyesom Wike, has ordered the immediate demolition of houses and other structures built on designated water channels in Abuja following renewed flooding in parts of the capital.

Wike issued the directive after inspecting areas affected by flooding, including Maitama, where he said developments obstructing designated waterways would no longer be tolerated.

The minister warned that the enforcement exercise would apply regardless of the status or influence of the property owners.

Government Moves Against Structures Blocking Waterways

According to the FCT Administration, buildings constructed on designated water channels can obstruct the natural movement of stormwater and increase flood risks in surrounding communities.

Wike said the FCT would proceed with removing structures that interfere with water channels, regardless of whether their owners are politically influential.

The directive comes after heavy rainfall caused flooding in parts of Abuja, renewing concerns over drainage infrastructure and development in flood-prone areas.

Maitama Among Areas Affected

Maitama was among the areas inspected following the flooding.

The FCT Administration has identified structures obstructing waterways as part of the factors requiring urgent attention as authorities respond to flooding across the capital.

Wike’s position is that property ownership or political influence should not shield buildings that violate planning requirements or obstruct critical drainage channels.

Flooding Raises Questions About Urban Planning

The latest enforcement action goes beyond demolition.

It highlights the consequences of allowing development to take place without adequate consideration of drainage networks, flood plains and natural water channels.

As Abuja continues to expand, increasing construction has placed greater pressure on existing infrastructure. Where drainage systems are inadequate or waterways are blocked, heavy rainfall can quickly expose weaknesses in the city’s urban-planning system.

For residents, the consequences can include damaged homes, disrupted transportation and losses to household and commercial property.

Property Development Needs Stronger Planning Controls

The development also reinforces the importance of verifying planning approvals before purchasing or developing property.

A building may have significant financial value, but that does not protect it from enforcement action if it is found to violate applicable planning or environmental requirements.

For developers, proper site assessment and compliance with approved land-use plans are therefore essential before construction begins.

For buyers, the episode is another reminder that property due diligence should go beyond checking ownership documents. Planning approval, permitted land use, drainage arrangements and the location of the property in relation to waterways also matter.

Balancing Development and Flood Protection

Abuja’s growing population means the demand for housing and other developments will continue.

But urban expansion cannot come at the expense of the infrastructure and natural systems needed to manage rainfall.

The FCT’s latest action demonstrates the need for authorities to combine enforcement with long-term investment in drainage infrastructure, flood mapping and transparent development controls.

The immediate demolition order may address individual structures, but preventing future flooding will require consistent planning enforcement before buildings are constructed.

For Abuja’s housing market, the message is clear: a development that ignores waterways and drainage can become a risk to both its residents and the wider city.

The post Wike Targets Buildings Obstructing Waterways After Abuja Flooding appeared first on Housing TV Africa.