The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged foreign investors at the Saudi Real Estate Forum to seize the vast opportunities within Nigeria’s housing sector, particularly through the Federal Government’s Renewed Hope Cities and Estates Programme. This is according to a statement on Tuesday by the Special Assistant Media and Strategy to the Minister,...
The World Bank has forecasted that Nigeria’s economy will grow by 3.5 per cent in 2025 and rise slightly to 3.7 per cent in 2026. This projection, contained in the latest Global Economic Prospects report, reflects a modest recovery for the nation amidst persistent economic challenges and global uncertainties. According to the report, Nigeria’s economic growth improved to an...
The National Bureau of Statistics (NBS) has listed the real estate sector as the third-largest sub-sector in Nigeria’s economy, up from 5th position, following the recent GDP rebasing exercise According to data from the Nigerian Bureau of Statistics (NBS), the real estate sector contributed 5.20 per cent to the GDP in Q1 of 2024. The rebasing exercise has rearranged the hierarchy of...
Despite rising inflation and policies that have restricted growth and slowed down the economy, experts predict that the 2025 housing market will witness continued demand for affordable housing, driven by urbanisation and city population growth. They also foresee a rise in property value, albeit at a more subdued level. Key developments likely to shape the market include introducing...