THE Federal Government has convened key stakeholders in Nigeria’s housing and built environment sector to validate two landmark policy documents aimed at strengthening industry regulation, establishing a credible national housing data system, and repositioning the sector for sustainable growth.
Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, told the gathering that the workshop represented the final opportunity for stakeholders to shape the policies before they are presented to the Federal Executive Council (FEC).
Stakeholders in attendance were drawn from federal and state governments, the World Bank, the National Population Commission (NPC), the National Bureau of Statistics (NBS), the Central Bank of Nigeria (CBN), regulatory and professional bodies, financial institutions, developers, academia and the media.
“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 declared.
Sector Worth Over ₦77 Trillion But Nigerians Remain Vulnerable
Darma observed that Nigeria’s housing sector has grown into one of the country’s biggest economic drivers but continues to operate without an effective regulatory framework.
He noted that following the rebasing of the nation’s economy, real estate services alone now account for approximately 13.4 per cent of Nigeria’s Gross Domestic Product (GDP), representing roughly ₦41 trillion. Together with construction, the sector contributed over ₦77 trillion to the economy in 2025.
Despite this enormous economic value, he lamented that millions of Nigerians remain vulnerable to fraudulent housing transactions, failed developments and poor consumer protection.
Drawing a comparison with Dubai, the Minister explained that the emirate’s introduction of compulsory escrow accounts in 2007 and the licensing of developers and agents through its regulatory authority had built the trust that allowed it to record over 270,000 property transactions worth about $250 billion in 2025 alone.
According to him, Nigeria must embrace similar reforms to protect homebuyers, attract investment and improve standards across the built environment.
Recurring Building Collapses and Weak Mortgage System
Darma expressed concern over the recurring incidence of building collapses and the country’s weak mortgage system, noting that although millions of Nigerians contribute to the National Housing Fund annually, access to affordable mortgages remains extremely limited.
The Minister explained that the proposed National Housing and Built Environment Regulation Policy seeks to introduce licensing for developers and estate agents, escrow protection for buyers’ funds, improved professional standards and construction quality, better land administration, urban renewal without displacement, and the establishment of a National Housing Data Observatory.
The policy also proposes the creation of a National Housing Industry Regulatory Commission to strengthen oversight of the housing sector nationwide.
National Housing Deficit Pegged at 15 Million Units
On housing data, Engr. Darma said the Technical Committee had adopted internationally recognised methodologies, including the World Bank Adequate Housing Index and the UN-Habitat Household Crowding Index, to arrive at a core national housing deficit of approximately 15 million housing units.
He urged stakeholders to rigorously scrutinise the methodology during the workshop, noting that credible housing data is fundamental to effective planning, policy formulation and investment decisions.
The Minister further called on participants to engage openly and constructively in shaping policies that would lay the foundation for a more efficient, better-regulated and globally competitive housing industry in Nigeria.
National Mortgage Registry Ready for Deployment
Earlier in his welcome address, the Permanent Secretary of the Ministry, Dr. Shuaib Belgore, who chairs the 13-member National Housing Data Steering Committee, said the workshop was convened to validate two critical initiatives: the National Housing Data Programme and the Regulation of the Built Environment.
He acknowledged that fragmented data and weak regulatory enforcement have over the years constrained effective planning, investor confidence, and housing quality in Nigeria.
In his goodwill message, the Chairman of the House of Representatives Committee on Regional Planning and Urban Development, Hon. Dr. Awaji-Inombek Abiante, stressed the need for reliable, homegrown housing data to tackle Nigeria’s housing challenges, noting that effective planning and meaningful reforms can only be built on accurate information.
He reaffirmed the National Assembly’s support for initiatives that will strengthen housing data, promote orderly urban development and drive lasting reforms across the housing sector.
The Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, disclosed that the Bank has developed the National Mortgage Registry, a central digital repository for mortgage transactions across the country which is now ready for deployment following ongoing stakeholder engagement, data collection, cleansing and validation.
According to him, the registry will enhance transparency, strengthen risk management and improve confidence in Nigeria’s mortgage system, while its successful implementation will depend on sustained collaboration among government institutions, financial institutions, developers and other stakeholders.
The workshop marks a significant step in the Federal Government’s efforts to address the longstanding challenges of inadequate housing data, weak regulatory enforcement, and limited access to affordable mortgages that have plagued the sector for decades.
