The Federal Government has unveiled plans to introduce a comprehensive regulatory framework for Nigeria’s housing sector, saying the country’s real estate and construction industries contributed more than N77tn to the economy in 2025 despite operating without a unified regulatory system.
The Minister of Housing and Urban Development, Muttaqha Darma, disclosed this on Tuesday in Abuja during a stakeholders’ validation workshop on the proposed National Housing and Built Environment Regulation Policy and the National Mortgage Industry Policy.
Addressing participants, Darma described the workshop as the final stage before the proposed policies are presented to the Federal Executive Council.
“This gathering is not a ceremony. It is the last door these policies pass through before the Federal Executive Council. What you say here will change what I carry to Council. I am not asking for applause. I am asking you to be critical.”
The minister said, “After the rebasing of our accounts, real estate services alone account for about 13.4 per cent of Nigeria’s GDP, roughly N41bn. It is our third largest sector, ahead of telecommunications and ahead of crude oil. With construction added, the two crossed N77tn in 2025.”
