Real Estate Sector Contributes 17.4% To GDP In 3 Months —Operator

The Association of Housing Corporation of Nigeria (AHCN) has revealed that successful the archetypal 4th of 2025, the existent property assemblage contributed 17.4 per cent to Nigeria’s gross home merchandise (GDP).

The president of the AHCN, Eno Obongha, made this known yesterday portion presenting a ‘State of the Nation’s Housing Address’ to people this year’s World Habitat Day, successful Abuja. He stated that it was projected that the existent property assemblage could turn astatine six to 8 per cent successful 2025, with urbanisation, infrastructure investments, and unmet lodging demand.

Obongha called connected the national and authorities governments to enactment much efforts arsenic good arsenic interventions to lodging development, particularly successful the municipality centres, adding, that it tin alteration the antagonistic narratives of lodging shortage to monolithic ample standard lodging proviso backed up with deliberate affordability structures.

The president, who besides lamented the government’s inability to enactment proactively to avert gathering collapses, noted that we request a federation wherever due enactment is taken by our authorities officials to forestall unnecessary gathering illness calamities and unwarranted demolition, which is usually accompanied by nonaccomplishment of resources and symptom of displacement.

He said that portion the national and authorities governments, alongside Private Developers and lodging corporations, person embarked connected assorted initiatives aimed astatine bridging the lodging deficit, from caller property projects to municipality renewal schemes and argumentation reforms, the play nether reappraisal highlights a mixed representation of progress, innovation, and continuing obstacles.

While besides commending the national authorities nether the Renewed Hope Housing Programme (REHHP), which helium said is simply a three-tier exemplary comprising Cities, Estates, and Social Housing, Obongha explained that the Ministry of Housing and Urban Development has been capable to commence, successful conscionable 2 years, implicit 10,000 lodging units crossed 14 states and the FCT.

He further called connected the authorities houses of assembly to amend the lodging corporations laws successful their states successful bid to thrust wide lodging transportation successful their states. He besides lamented that astatine the authorities authorities level, not overmuch has been recorded successful the proviso of affordable lodging successful virtually each the states wrong the past year.