Nigeria stakeholders call for real estate reform and improved construction oversight

Stakeholders in Nigeria’s built environment are calling for a comprehensive overhaul of the real estate regulatory system to combat property fraud, multiple sales, and defective titles. To address these issues, professionals have proposed the establishment of a Nigerian Real Estate Regulatory Authority (NRERA). This proposed body would aim to improve market transparency, ensure developer accountability, and provide safeguards for investors, particularly those participating in off-plan developments.

Separately, the Nigerian Society of Engineers has highlighted systemic challenges within the construction sector, noting that the primary issue is not a lack of projects but a failure to complete and maintain them. Deputy President Valerie Agberagba identified bottlenecks in procurement, energy, and population growth as major obstacles to sustainable infrastructure. She noted that many completed projects decay shortly after commissioning and emphasized that high monetary policy rates continue to impact private-sector investment in essential housing and industrial infrastructure.