Akpabio: Real Estate Sector Crucial to Nigeria’s Economic Growth
Senate President Godswill Akpabio has unequivocally stated that Nigeria’s economic future depends on strategic real estate policies, transparent land administration, and sustainable infrastructure development.
Speaking in Lagos on Friday during his investiture as a Fellow of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Akpabio emphasized the indispensable role of the real estate sector in stabilizing the economy, enhancing investor confidence, and addressing the nation’s housing deficit.
In a statement, his special assistant Jackson Udom quoted Akpabio as commending estate surveyors and valuers for being the unsung heroes of Nigeria’s economic transformation, ensuring that investments in land and property remain secure and profitable.
“Without your expertise, businesses would face significant investment challenges, and the dream of homeownership for millions of Nigerians would remain unrealized,” he asserted.
He highlighted that as global economies shift towards real estate-backed financial stability, Nigeria must elevate its property and housing sectors to become pivotal drivers of economic growth.
Akpabio committed to legislative support for policies aimed at making housing more affordable for Nigerians, ensuring transparent and corruption-free land administration, attracting both local and foreign investments into the real estate sector, and promoting urban planning conducive to economic expansion.
“The policies we establish and the reforms we advocate must align with a vision where real estate is not merely a private asset but a strategic national economic tool,” Akpabio emphasized.
With Nigeria confronting an estimated 28 million housing deficit, Akpabio called for strategic partnerships between the government, private sector, and real estate professionals to deliver sustainable solutions.
“Housing should not be a luxury but a fundamental right. Our objective is to create a framework where every Nigerian, irrespective of income level, can own a home without financial strain,” he declared.
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