Nigeria pushes for stronger regulation of housing sector

Oba Akintoye Adeoye, president of the Real Estate Developers Association of Nigeria (REDAN), urged stronger regulation of the built environment to curb building collapses and promote sustainable housing. Speaking at a stakeholders’ validation workshop in Abuja, he emphasized that weak enforcement fuels structural failures and called for transparent, evidence‑based policies, citing the newly validated National Housing Data Programme as a foundation for better planning.

Minister of Housing and Urban Development Muttaqha Darma disclosed that the housing and construction sector contributed over N77 trillion to the economy in 2025, with real‑estate services alone accounting for N41 trillion (13.4% of GDP). He warned that despite this economic importance, the sector suffers from fraudulent transactions, poor consumer protection and recurring building collapses due to inadequate regulation. Darma advocated reforms modelled on Dubai’s compulsory escrow accounts and licensing of developers to boost investor confidence and protect homebuyers, noting that the proposed policies will soon be presented to the Federal Executive Council for approval.