By: Tijani Salako.
The former vice president of Nigeria Prof. Yemi Osinbajo has charged the captains of real estate industry to ensure that the real estate sector’s future do reflects people’s aspiration, especially things that make life livable, safe and less vulnerable
This call was targeted to the real estate leaders comprising developers, architects, surveyors, sundry space providers, and other professionals in the built industry. They were all charged with wakeup call to rethink how homes are built in Nigeria and shift towards sustainable housing practices that reduce harm to the planet, and make shelter more accessible to all.
This urge was made at the 75th World Congress of the International Real Estate Federation (FIABCI), recently hosted by the Nigerian chapter of the federation in Lagos which house leaders and professionals around the world to cross ideas, build connections, and shape the future of real estate in Nigeria with goal of sustainability with the theme “Global Real Estate Renaissance” to reflects on a time of new ideas and fresh thinking in the real estate industry.
The former vice president further acknowledged 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. “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.
In an illustration, Osinbajo praised the efforts of former Lagos State governor, Lateef Jakande, over 30,000 homes built 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,”
He pushed for broader mortgage access that includes those working in the informal sector. To help with that, he recommended embracing digital platforms such as Prop-tech, which can simplify land registration and reduce fraud. Akin Opatola, FIABCI Nigeria’s President, re-echoed the VP urge, 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.
Riera, who address 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 said 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 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.