The Minister of Housing and Urban Development in Nigeria, Ahmed Dangiwa, has called on foreign investors to explore the many opportunities available in Nigeria’s housing market. He made this appeal at the Saudi Real Estate Forum, where he talked about a specific program called the Federal Government’s Renewed Hope Cities and Estates Programme. This program is aimed at improving housing conditions across the country and is a great chance for investors to get involved.
Mark Chieshe, who is the Special Assistant for Media and Strategy to the Minister, shared these comments on Tuesday. During a discussion panel at the forum, Dangiwa pointed out that Nigeria’s real estate market is growing significantly. He mentioned that the country is currently facing a serious shortage of homes, which presents a great opportunity for investors.
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In fact, Dangiwa revealed that Nigeria’s real estate sector contributed about 5.2% to the country’s Gross Domestic Product (GDP) in 2024. He projected that by the end of 2025, the total value of the real estate market in Nigeria could reach $2.25 trillion. Despite this growth, there is still a huge demand for new investments, particularly in the area of residential housing. Dangiwa emphasized the urgent need for homes in Nigeria and encouraged investors to partner with the government to help build these houses on a large scale.
The forum had a theme focused on “Balance and Innovation in the Real Estate Landscape,” and included contributions from important figures such as Qatar’s Minister of Municipality, Abdullah Al-Attiya, and the Maldives’ Minister of Construction, Housing, and Infrastructure, Abdulla Muththalib.
Dangiwa highlighted a critical issue facing Nigeria: the country has a housing shortage of 28 million units, which is worsening due to rapid urban growth. He explained that the government is addressing this challenge by focusing on large-scale housing developments. This includes forming partnerships between government agencies and private companies, finding innovative ways to finance projects, and implementing government-directed initiatives.
He also pointed out that land acquisition for building affordable housing can be a hurdle, so the government is working with state governments to make land available for these projects.
Furthermore, Dangiwa stressed that housing plays a crucial role in the overall economic growth and stability of the country. He shared his belief that providing adequate housing is essential for social stability and national development. However, he acknowledged that balancing the need for affordable housing with the need for profitability for investors can be challenging. This means that issues like sustainability, cost efficiency, and the right incentives for both government and private sector involvement must be addressed to create a healthier real estate market in Nigeria.
