Nigerian real estate development discussions

During the 88th anniversary symposium of the Ikoyi Club 1938 in Lagos, Nigerian real estate experts addressed the future of the country’s property sector. Dr. Innocent Okoro advised investors to move away from land speculation in favor of productive development and value creation, noting that urbanization and population growth are driving significant demand.

Experts highlighted that infrastructure projects, including roads, rail, power, and water, are the primary determinants of property value. They recommended that investors follow infrastructure pipelines to identify future value corridors.

Discussions also focused on the role of technology, such as artificial intelligence, drones, data analytics, and Building Information Modelling (BIM). While these tools can improve valuation and construction efficiency, experts warned they are also being used to facilitate fraud through fake listings and doctored documents. To combat these issues and expand affordable housing, the experts called for increased collaboration between the government, financial institutions, and developers, as well as greater involvement from pension funds and private equity in property financing.