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The Minister of Housing and Urban Development, Ahmed Dangiwa, has called on foreign investors to capitalize on the vast opportunities in Nigeria’s housing sector, particularly through the Federal Government’s Renewed Hope Cities and Estates Programme.

Speaking at the Saudi Real Estate Forum, Dangiwa highlighted Nigeria’s real estate market’s significant growth prospects, driven by the country’s ongoing housing deficit. “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,” he said. 

Despite this growth, Dangiwa emphasized that there is still tremendous investment opportunity, especially in the residential real estate segment.

Nigeria faces a housing deficit of 28 million units, exacerbated by rapid urbanization. To address this, the government is prioritizing large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions. Dangiwa also noted the government’s efforts to engage state governments in unlocking land for affordable housing projects, as land acquisition remains a challenge.

Dangiwa stressed the broader implications of housing on economic growth and stability, highlighting the Nigerian government’s commitment to overcoming challenges in the sector.

“Housing is a fundamental driver of economic growth, social stability, and national development,” he noted. “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.

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