Darma Proposes New Regulations for Nigeria's Housing Sector

On [date not specified], Muttaqha Darma, the Minister of Housing and Urban Development, announced a plan to reform Nigeria's housing sector through a new regulatory framework designed to protect homebuyers, restore investor confidence, and promote transparency in the real estate market. This announcement was made during his keynote address titled “Nigeria’s Housing Sector at a Crossroads: Confronting the Mortgage Failure, the Rent Crisis, the Unregulated Market, and the Road to a Sector That Finally Works for Nigerians” at the BusinessDay Abuja Real Estate Conference 2026 in Abuja.

Darma expressed concern over Nigerians losing their life savings to unlicensed developers and the lack of protection for buyers due to insufficient regulatory safeguards. He noted that the real estate sector contributes approximately 13.36% to Nigeria's GDP, yet the absence of a comprehensive regulatory framework undermines investment and public confidence.

The ministry is developing a national housing and built environment regulation policy that will include developer licensing, escrow protection for buyers’ funds, and construction quality assurance.