Nigeria's real estate sector now contributes 10.7% of GDP — but bridging the housing gap needs ₦5.5 trillion a year
Real estate is now one of Nigeria's biggest economic contributors. The problem is the scale of investment needed to close the housing gap is almost unimaginable.
Nigeria's real estate sector now contributes 10.7% of GDP following economic rebasing — up from 6.2% previously — making it one of the country's most significant economic drivers.
The multiplier effect is substantial: every ₦1 million invested in housing generates an estimated ₦2.5 million across the wider value chain. But the numbers also expose the scale of the challenge: closing Nigeria's 22 to 28 million unit housing deficit requires approximately ₦5.5 trillion in annual investment over the next decade.
With mortgage penetration still below 1% of GDP and construction costs remaining elevated due to import dependency, analysts say government policy on land titling, affordable finance, and local material production will be decisive.
Read the full story at Nigeria Housing Market →