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Real estate developers and industry professionals in Lagos have raised concerns over rising land prices, construction materials, labour, infrastructure and financing costs, warning that the growing cost of delivering residential properties will place further pressure on property prices and rents. Industry professionals said that the increases are not driven by interest rates and exchange-rate pressures alone, with land acquisition, cement, steel, finishing materials, site conditions, regulatory charges and infrastructure also contributing significantly to project costs.
Lagos Developers Warn Rising Costs Will Push Up Property Prices and Rents
Real estate developers and industry professionals in Lagos have warned that rising land prices, construction materials, labour, infrastructure and other development expenses are increasing the cost of delivering residential properties, with higher costs expected to feed into prices paid by buyers and tenants.
Nigeria’s Housing Market Needs Homes People Can Actually Afford
Nigeria’s housing challenge extends beyond the number of homes available, as rising land and construction costs, limited access to long-term finance and household income constraints continue to make homeownership difficult for many Nigerians.
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Cement Price Surge Worsens Nigeria’s Housing Affordability Crisis
The rising price of cement is putting additional pressure on Nigeria’s housing market, with the cost of a 50kg bag reportedly exceeding ₦15,000 in some locations and increasing the financial burden on developers and prospective homeowners.
Judiciary to Benefit From Federal Government’s Housing Interventions
The Federal Government has assured judicial officers and court personnel that they will be included in its ongoing housing interventions across Nigeria, with the Ministry of Housing and Urban Development saying the judiciary will be considered as it implements housing projects nationwide.
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Ogun Expands Affordable Housing Drive to Boost Homeownership
Nigeria’s electricity distribution companies (DisCos) left ₦669.49 billion in billed electricity charges uncollected from customers in 2025, according to the Nigerian Electricity Regulatory Commission’s (NERC) 2025 Annual Report. The figure represents a significant revenue gap for the electricity distribution segment and continues to constrain liquidity across the Nigerian Electricity Supply Industry (NESI).
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REDAN Urges Blended Finance to Unlock Nigeria’s Housing Potential
The Real Estate Developers Association of Nigeria (REDAN) has called for stronger blended financing structures to increase investment in Nigeria’s housing and infrastructure sectors, arguing that conventional financing alone cannot meet the country’s housing needs.
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