Minister of Housing and Urban Development, Ahmed Dangiwa, has urged foreign investors to seize the vast opportunities within Nigeria’s housing sector, particularly through the Federal Government’s Renewed Hope Cities and Estates Programme.
This is according to a statement on Tuesday by the Special Assistant Media and Strategy to the Minister, Mark Chieshe, in a statement on Tuesday, quoted the minister to have stated this in an address at the Saudi Real Estate Forum.
The Forum, with the theme “Balance and Innovation in the Real Estate Landscape,” saw notable figures such as the Minister of Municipality of Qatar, Abdullah Al-Attiya and Minister of Construction, Housing, and Infrastructure of the Maldives, Abdulla Muththalib contribute their insights.
According to the statement, during a panel discussion, Dangiwa highlighted the significant growth prospects in Nigeria’s real estate market, citing the country’s ongoing housing deficit.
“Nigeria’s real estate sector contributed around 5.2 per cent 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 investment opportunity, 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.
The minister pointed out that Nigeria faces a housing deficit of 28 million units, exacerbated by rapid urbanisation, but the government was tackling it by prioritising large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions.
He also noted the government’s efforts to engage state governments in unlocking land for affordable housing projects, as land acquisition remains a challenge.
Dangiwa highlighted the Nigerian government’s commitment to overcoming challenges in the sector, pointing out that housing is a fundamental driver of economic growth, social stability, and national development.
“However, 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,” he added.
