Nigerian Experts Discuss Economic Growth Through New Towns and Urban Communities

Nigerian experts, including Franklin Nnaemeka Ngwu from Lagos Business School, gathered in Lagos to explore how creating new towns and urban communities like Gracefield Island and Orang Island can alleviate the housing deficit in major cities like Lagos. This initiative aims to boost economic growth by developing self-contained communities with housing, employment opportunities, industries, and leisure facilities.

The real estate sector is identified as a key driver of Nigeria's economy, contributing significantly to GDP. The focus is on market expansion, affordable housing, job creation, and improving living standards.