Practitioners in Nigeria’s real estate sector is crying out for urgent reform, according to stakeholders who converged on tueday at The Real Estate Stakeholders Forum (RESF) in Lagos, emphasized collaboration as a crucial step in tackling the country’s pressing housing challenges and unlocking the sector’s vast potential.
The forum brought together over 1,000 industry leaders, including developers, investors, policymakers, and financial institutions, to tackle Nigeria’s pressing housing challenges.
The keynote address by Professor Timothy Nubi, Director of the Centre for Housing and Sustainable Development at the University of Lagos, emphasized the importance of collaboration between government and real estate developers. “Collaboration between the government and real estate developers is essential for unlocking Lagos’ full potential. No entity can thrive in isolation; partnership is key to successful urban development,” he stated.
During the panel session, Barrister Festus Adebayo highlighted housing affordability as a critical issue, stressing the need to professionalize real estate development.
“The critical problem facing us today is housing affordability,” he said, advocating for professionalism to eradicate malpractices among practitioners.
On his part, Dr. Roland Igbinoba, founder of Pison Housing Company, urged real estate practitioners to be well-versed in regulatory frameworks and cautioned against commencing building projects without necessary approvals.
Hiwever, most stakeholders in attendance expressed dissatisfaction over difficulties in utilizing their lands despite having all necessary documents and approvals, with specific mention of challenges in the Lekki-Epe corridor.
The Real Estate Developers Association of Nigeria (REDAN) was unanimously adopted to lead stakeholder efforts, presenting a communiqué to the government advocating for accelerated housing reforms, streamlined land titling with a focus on digitization, reduced multiple taxation, and new investment opportunities.
The Forum resolved to produce a policy advisory document providing technical analysis and actionable steps for Lagos State’s Urban and Regional Planning Department, with implications for national housing reform.
The RESF 2025 concluded on a note of optimism, with stakeholders committed to fostering a more inclusive, innovative, and investment-friendly real estate ecosystem in Nigeria.
Photo Caption: L-R Chairman REDAN Lagos, Dr. Tony Kolawole; Vice President REDAN South West, Dr.Kunle Adeyemi Director Centre for Housing and Sustainable Development University of Lagos, Prof. Timothy Nubi; Founder/Chairman Housing TV Africa, Barr. Festus Adebayo; Legal Adviser REDAN Lagos, Barr. Labake Adetunmbi and FIABCI Lagos Chapter Secretary-General, Osagie Alfred, during the Real Estate Stakeholders Forum 2025 at Harbour Point, Victoria Island, Lagos.
