News by Country
Published stories attached to Nigeria.
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Nigeria says more than 15,000 housing units are currently under construction nationwide. The government believes the projects could provide homes for tens of thousands of families within months.
The founder of Nigeria’s biggest bank says property now outperforms banking as an investment. He’s backing that belief with luxury residential towers worth billions in Lagos.
Rent prices in Nigeria’s major cities are rising far faster than incomes, pushing many households to the financial edge. As housing costs soar, more residents are being forced into distant suburbs, informal settlements, or smaller living spaces.
Africa’s richest investors are increasing their real estate holdings as economic uncertainty reshapes investment strategies. Property is emerging as a preferred safe-haven asset for preserving wealth and building long-term family legacies.
Africa’s housing crisis is being compounded by a growing wave of real estate fraud. Industry leaders warn that scams are eroding trust, deterring investment, and putting affordable housing goals at risk across the continent.
For decades, affordable mortgages remained out of reach for most Nigerians. A new government-backed housing fund has already unlocked ₦128 billion in financing across 25 states.
Nigeria’s housing affordability challenge could worsen as cement prices surge to record levels. Developers warn that rising construction costs are already delaying projects and pushing homeownership further out of reach.
A major investigation has linked the late Access Bank CEO Herbert Wigwe to a vast London property portfolio spanning over 100 high-value assets. The findings highlight how offshore structures continue to shape global real estate ownership patterns.
Lagos says its outdated property records are slowing down real estate innovation. New GIS mapping and digital house numbering reforms could finally give PropTech startups the data backbone they need to scale.