By Ufoh Awele Anthony
Copyright independent
Anthony Ufoh
The Federal Government, through the present administration’s Renewed Hope Agenda, has stated that with the proposed 100 housing units, about 1000 direct and indirect jobs will be created nationwide.
Architect Ahmed Dangiwa, the Minister of Housing and Urban Development, made the statement in Lagos while he delivered a keynote address at the 24th Annual Conference of the African Real Estate Society held between September 9 and 12.
The event brought together policymakers, investors, developers, and scholars from across Africa and beyond.
Represented by Federal Controller of Housing Lagos, Mrs. Olayiwola Funmilayo, Dangiwa said Nigeria’s housing sector is a critical driver of economic growth, contributing over nine per cent to the country’s GDP and employing millions.
He noted that beyond providing shelter, the sector has the potential to generate jobs and stimulate inclusive development.
Highlighting government initiatives, the minister listed the Renewed Hope Cities and Estates Programme designed to deliver 100,000 affordable housing units nationwide, the recapitalisation of the Federal Mortgage Bank of Nigeria, and the introduction of innovative financing instruments such as mortgage-backed securities, diaspora housing bonds, and rent-to-own schemes.
He added that land administration reforms, including the National Land Titling, Registration and Documentation Programme and the issuance of e-Certificates of Occupancy, are aimed at unlocking over $300 billion in dead capital and improving investor confidence.
He said, “Our cities are growing at breakneck speed. Lagos alone adds 600,000 new residents annually. This rapid urbanisation creates both pressure and opportunity for housing, transport, and infrastructure.
“The Nigerian real estate market is worth over $56 billion and growing at double-digit rates annually. Africa as a whole has a property market projected to hit $1 trillion by 2030 if we create enabling environments.”
Earlier, Chairman of AfRES Nigeria Chapter, ESV Adediran Adetunji, in his welcome address, described Africa’s real estate market as evolving and resilient, with untapped opportunities in housing, commercial, and hospitality projects.
He stressed that Nigeria’s estimated 28 million housing deficit represents a massive investment opportunity.
The four-day conference, themed “Shaping the Future of African Real Estate Markets: Exploring the Opportunities”, continues in Lagos with panel discussions on sustainable housing, technology, and regional integration in real estate.
Esv. Victor Alonge, President and Chairman of Council, Nigerian Institution of Estate Surveyors and Valuers, stated that “Africa’s enormous opportunities and resources, with huge potentials and conducive business environment, make it a business hub and choice destination for international investment in real estate.”
