The federal government of Nigeria is wooing global investors with incentives and enormous opportunities in the country’s real estate sector and the good returns the sector offers on investment.
Ahmed Dangiwa, Minister of Housing and Urban Development, at a Saudi Arabia real estate forum recently highlighted the country’s new housing programme called ‘Renewed Hope Cities and Estates’ which, he said, investors could take advantage of to invest in housing.
The minister disclosed that Nigeria’s huge housing deficit offers enormous business opportunities, stressing that the Renewed Hope Cities and Estates Programme serves as a low-hanging fruit for investors in the Middle Eastern nation to take advantage of and get good returns.
The forum which had as theme, ‘Balance and Innovation in the Real Estate Landscape,’ was held at the Four Points Hotel in Riyadh and featured seasoned panellists, including Abdullah Al-Attiya, Minister of Municipality, Qatar, and Abdulla Muththalib, Minister of Construction, Housing and Infrastructure, Republic of Maldives.
“Nigeria’s real estate sector contributed around 5.2 percent to the nation’s GDP in 2024, and will increase in market volume to $2.25 trillion by the end of 2025. Despite this, there is still tremendous opportunity for investment, especially in the Residential Real Estate segment. Nigerians need homes now more than ever and you can partner with the Nigerian government to deliver these houses at scale,” Dangiwa said.
He noted that Nigeria faces an estimated housing deficit of 28 million units, a situation exacerbated by rapid urbanization and migration. “The government is tackling this by prioritizing large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions. Additionally, efforts are underway to engage state governments in unlocking land for affordable housing projects, as difficulties in land acquisition continue to hinder progress,” he added.
Speaking on the theme, the minister provided the context, emphasizing that housing is a fundamental driver of economic growth, social stability, and national development. He noted, however, that achieving a balance in the real estate sector between affordability and profitability means that the challenges of sustainability and cost efficiency, as well as policy and private sector incentives, must be addressed.
