Minister: Housing, Real Estate Contributed N77 Trillion to Nigeria’s Economy in 2025

Nigeria's housing and construction sector significantly boosted the nation's economy in 2025, contributing over N77 trillion, according to Minister of Housing and Urban Development Muttaqha Darma. Real estate services alone generated approximately N41 trillion, representing 13.4 percent of the country's Gross Domestic Product (GDP).

Darma presented these figures at a stakeholders' workshop in Abuja, emphasizing the sector's role as a major economic driver. However, he acknowledged persistent challenges, including weak regulation, insufficient mortgage financing, and poor data management, which leave millions vulnerable to fraudulent transactions and failed developments. The workshop focused on scrutinizing proposed policies for the National Housing Data Programme and the National Housing and Built Environment Regulation Policy before their presentation to the Federal Executive Council.

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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.

Drawing parallels with Dubai's successful reforms, Darma advocated for similar measures in Nigeria. These include mandatory escrow accounts for buyers' funds, licensing for developers and estate agents, and enhanced professional standards. The minister also addressed the recurring issue of building collapses and the limitations of the country's mortgage system, despite contributions to the National Housing Fund. The proposed policies aim to create a robust regulatory framework, improve construction quality, and attract investment by ensuring greater transparency and consumer protection.

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Following the rebasing of the nation’s economy, real estate services alone account for about 13.4 per cent of Nigeria’s Gross Domestic Product (GDP), representing approximately N41 trillion, and together with construction, contributed over N77 trillion to the economy in 2025.