The Federal Government has announced plans to deliver 100,000 social housing units for vulnerable groups across all 774 Local Government Areas (LGAs).
The Minister of Housing and Urban Development, Ahmed Dangiwa, revealed this during his presentation at the 4th Edition of the Real Estate Future Forum in Riyadh, Saudi Arabia, on January 29, 2025.
Dangiwa called on global investors in Saudi Arabia to take advantage of the huge opportunities in Nigeria’s housing sector.
He disclosed that Nigeria’s huge housing deficit offers enormous business opportunities, adding that the Renewed Hope Cities and Estates Programme serves as a low-hanging fruit for investors in the Middle Eastern nation to take advantage of and get good returns.
The Forum themed, “Balance and Innovation in the Real Estate Landscape.” was held at the Four Points Hotel in Riyadh and featured esteemed panellists including HE Eng. Abdullah Al-Attiya, Minister of Municipality, Qatar, and HE Dr. Abdulla Muththalib, Minister of Construction, Housing, and Infrastructure, Republic of Maldives.
Nigeria’s real estate sector contributed around 5.2% to the nation’s GDP in 2024, and will increase in market volume to $2.25 trillion by the end of 2025, Dangiwa noted, saying that despite this, there is still tremendous opportunity for investment, especially in the Residential Real Estate segment.
“Nigerians need homes now more than ever and you can partner with the Nigerian government to deliver these houses at scale,” he said.
“The government is tackling this by prioritizing large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions. Additionally, efforts are underway to engage state governments in unlocking land for affordable housing projects, as difficulties in land acquisition continue to hinder progress,” he added.
Speaking on the theme, Dangiwa set the context by emphasising that housing is a fundamental driver of economic growth, social stability, and national development.
He, however, said that achieving a balance in the real estate sector between affordability and profitability means that the challenges of sustainability and cost efficiency, as well as policy and private sector incentives, must be addressed.