NIGERIA’S REAL ESTATE SECTOR HITS $2.60TN – REPORT

Nigeria’s real estate sector has reached a valuation of $2.60 trillion, according to a comprehensive new report, underscoring its growing significance as a key driver of economic activity and wealth creation in Africa’s largest economy.

The report, released by a leading global property consultancy, highlights robust performance across residential, commercial, and industrial segments, fuelled by urbanisation, population growth, and increasing foreign and domestic investments. Lagos, Abuja, and Port Harcourt continue to dominate activity, with emerging cities also recording notable growth.

Analysts attribute the sector’s expansion to improved mortgage penetration, government infrastructure projects, and rising demand for modern housing and office spaces. “Real estate remains one of Nigeria’s most resilient asset classes, offering attractive returns despite macroeconomic headwinds,” the report noted.

Challenges such as high construction costs, regulatory bottlenecks, and access to long-term finance were identified as areas requiring urgent attention to unlock the sector’s full potential. The report recommends policy reforms to stimulate affordable housing and attract more institutional capital.

Stakeholders have welcomed the positive valuation, viewing it as a testament to the sector’s resilience and opportunities for job creation and economic diversification.