The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged foreign investors at the Saudi Real Estate Forum 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 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 $2.25tn by the end of 2025,” Dangiwa said.
“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,” he added.
The forum, themed “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.
Dangiwa stressed that Nigeria faces a housing deficit of 28m units, exacerbated by rapid urbanization.
“The government is tackling this by prioritizing large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions,” he explained.
He also noted the government’s efforts to engage state governments in unlocking land for affordable housing projects, as land acquisition remains a challenge.
Emphasising the broader implications of housing on economic growth and stability, Dangiwa highlighted 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,” he added.
