The Federal Government is set to create 1,000 Jobs for every 100 Housing Units
The Federal Government has announced that for every 100 housing units delivered under its Renewed Hope Agenda, at least 1,000 direct and indirect jobs will be created across Nigeria.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, disclosed this in Lagos while delivering the keynote address at the 24th Annual Conference of the African Real Estate Society (AfRES).
The high-profile event brought together policymakers, investors, developers, and academics from across Africa and beyond to explore opportunities in the real estate sector.
Represented by the Federal Controller of Housing in Lagos, Mrs. Olayiwola Funmilayo, the minister stressed that Nigeria’s housing industry is not just about providing shelter but also a key driver of economic growth, contributing more than 9% to the nation’s Gross Domestic Product (GDP) and employing millions of people.
According to him, the housing sector offers one of the most effective ways to create jobs, stimulate inclusive development, and address the country’s housing deficit.
Dangiwa highlighted several Federal Government initiatives aimed at boosting access to affordable housing and unlocking economic opportunities. These include the Renewed Hope Cities and Estates Programme, which targets the delivery of 100,000 housing units nationwide, the recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN), and the introduction of innovative financing instruments such as mortgage-backed securities, diaspora housing bonds, and rent-to-own schemes.
He further revealed that reforms in land administration, particularly the National Land Titling, Registration and Documentation Programme and the rollout of electronic Certificates of Occupancy (e-C of O), are designed to unlock more than $300 billion in dead capital and enhance investor confidence in the Nigerian real estate market.
“Our cities are growing at breakneck speed. Lagos alone adds about 600,000 new residents every year. This rapid urbanisation creates both pressure and opportunities for housing, transport, and infrastructure. Today, the Nigerian real estate market is valued at over $56 billion and continues to grow at double-digit rates annually. Africa’s property market is projected to hit $1 trillion by 2030, provided we create the right enabling environment,” he said.
Chairman of the AfRES Nigeria Chapter, ESV Adediran Adetunji, noted that Africa’s real estate market remains resilient and dynamic, with vast untapped opportunities in residential, commercial, and hospitality developments. He pointed out that Nigeria’s estimated 28 million housing deficit represents a significant investment opportunity for both local and foreign investors.
The four-day conference, themed “Shaping the Future of African Real Estate Markets: Exploring the Opportunities”, continues in Lagos with panel sessions on sustainable housing, technology integration, and regional real estate development.
Esv. Victor Alonge, President and Chairman of Council, Nigerian Institution of Estate Surveyors and Valuers (NIESV), described Africa as a business hub with enormous resources and potential. “With the right policies and conducive investment environment, the continent remains a prime destination for international investors in real estate,” he added.
