Nigeria faces one of Africa’s largest housing deficits, with millions of families unable to access affordable and secure housing. Behind this challenge lie systemic issues such as delays in land titling, multiple taxation, inflationary building costs, and limited mortgage access.
On Tuesday, 16th September 2025, the Real Estate Stakeholders’ Forum in Lagos brought together over 1,000 stakeholders including developers, investors, financiers, policymakers, and allied businesses to address these barriers head-on. The Forum represented an unprecedented collective effort by the industry to align on solutions, strengthen investor confidence, and create a platform for reform. Discussions focused on affordable housing, infrastructure gaps, modular and green housing innovations, and financing models such as diaspora funding and REITs.
The Forum was not just another conference. It delivered two concrete outcomes. First, a Stakeholders’ Communiqué was issued, providing an immediate statement of consensus that captured what the industry demands from policy development, compliance, and enforcement agencies of government. Second, stakeholders resolved to produce a Policy Advisory Document, a detailed evidence-based framework to guide the Lagos State Urban and Regional Planning Department and serve as a blueprint for broader state and national policy reforms.
A landmark resolution from the Forum was the unanimous adoption of the Real Estate Developers Association of Nigeria, REDAN, to champion this course and present the communiqué to the government on behalf of the entire industry. This decision gave the reform agenda a unified and credible voice.
The urgency of the task was highlighted by Barrister Festus Adebayo, who remarked that the critical problem facing the sector today is housing affordability and that it is time to professionalize real estate development.
Similarly, Professor Timothy Nubi of the University of Lagos highlighted the importance of partnership by stating that collaboration between government and real estate developers is essential for unlocking Lagos’ full potential. No entity can thrive in isolation and partnership is key to successful urban development.
This moment is about collective and collaborative action. By uniting voices, the industry seeks to push beyond rhetoric and achieve real policy alignment that can unlock growth, foster a stable investment climate, and strengthen the relationship between government and credible players in the sector for the ultimate benefit of Nigerians in search of affordable housing.
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