Real Estate industry leaders have been charged with ensuring that the sector’s future reflects people’s needs, especially those things that make life not just liveable, but also safe and less vulnerable.
The leaders, comprising developers, sundry space providers, and professionals, were also charged with rethinking how homes are built in Nigeria.
Former Vice President Yemi Osinbajo, who gave this charge, also urged a shift towards sustainable housing practices that not only reduce harm to the planet, but also make shelter more accessible to all.
Osinbajo spoke at the 75th World Congress of the International Real Estate Federation (FIABCI) hosted recently by the Nigerian chapter of the federation in Lagos.
The FIABCI Global Congress brings together leaders and professionals from around the world to share ideas, build connections, and shape the future of real estate.
In line with the shift towards sustainability, Osinbajo pointed out that climate-responsive design using local materials is no longer a luxury, but a necessity, stressing that housing should serve everyone, not just the wealthy or formally employed.
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“To do this, governments need to take social housing seriously, not just as a policy tool, but also as a smart investment that pays off both economically and socially,” he said.
Citing past and present examples, Osinbajo praised the efforts of former Lagos State governor, Lateef Jakande, who built over 30,000 homes between 1979 and 1983, and Borno State governor, Babagana Zulum, who added more than 12,000 units between 2019 and 2023.
“Despite financial challenges, both leaders were able to deliver results by planning well, buying materials in bulk, and hiring local contractors; their success came down to political will and good strategy,” the former vice president said.
He also pushed for broader mortgage access that includes those working in the informal sector. To help with that, he recommended embracing digital platforms such as Proptech, which can simplify land registration and reduce fraud.
Akin Opatola, FIABCI Nigeria’s President, echoed Osinbajo’s call, saying that real estate isn’t just about buildings, but also about people and progress and described Lagos as a city full of energy and potential, ready to lead the way in innovation and sustainable development.
The theme of this year’s edition was ‘Global Real Estate Renaissance,’ which, according to Ramon Riera, FIABCI world president, reflects a time of new ideas and fresh thinking in the real estate industry.
Riera, who spoke in his message to the congress, noted that this year’s congress was truly special, explaining that “it is the first time in our history that the World Congress is held on the African continent. This marks an important step in our journey as a global organization, and we are proud to celebrate this moment together.”
He noted further that from innovation and technology to sustainability and inclusive growth, “we are entering a new era of opportunity. Lagos, a fast-growing and vibrant city, is the perfect place to explore this global transformation,” Riera said.
Riera said the congress marks a turning point not just for Africa, but also for the global property market, stressing that Lagos is a place to explore new ideas in real estate and push for a more inclusive, eco-conscious future.
