Nigeria confronts a massive housing shortage that affects millions of families seeking affordable homes. Systemic problems, such as delayed land documentation, excessive taxes, rising construction costs, and restricted mortgage options, create significant barriers. The Real Estate Stakeholders' Forum convened in Lagos on September 16, 2025, bringing together more than 1,000 industry participants. Developers, investors, financial institutions, government officials, and related businesses gathered to tackle these pressing challenges. The assembly represented an extraordinary industry-wide initiative aimed at building consensus and restoring investor trust.
The gathering produced two significant deliverables for immediate implementation. Participants created a Stakeholders' Communiqué that outlined industry expectations for government policy agencies. They also committed to developing a comprehensive Policy Advisory Document to guide urban planning authorities. The Real Estate Developers Association of Nigeria received unanimous support to represent the entire sector before government officials. Barrister Festus Adebayo emphasized housing affordability as the sector's primary challenge, while Professor Timothy Nubi stressed the need for government-developer partnerships to maximize Lagos' development potential.
The gathering produced two significant deliverables for immediate implementation. Participants created a Stakeholders' Communiqué that outlined industry expectations for government policy agencies. They also committed to developing a comprehensive Policy Advisory Document to guide urban planning authorities. The Real Estate Developers Association of Nigeria received unanimous support to represent the entire sector before government officials. Barrister Festus Adebayo emphasized housing affordability as the sector's primary challenge, while Professor Timothy Nubi stressed the need for government-developer partnerships to maximize Lagos' development potential.
