House of Representatives Advocates for Real Estate Regulation

The House of Representatives and the Federal Government have called for stronger regulation of Nigeria’s real estate sector, proposing a comprehensive national framework to address property fraud, protect homebuyers, streamline institutional responsibilities, and attract investment. This includes establishing a National Real Estate Regulatory Authority (NRERA) to enhance oversight and transparency.

Speaker of the House, Tajudeen Abbas (Rep, Zaria), and Abdulmumin Jibrin, Chairman of the House Committee on Housing and Habitat, made these remarks at a stakeholders’ conference in Abuja. Minister of Housing and Urban Development, Dr Muttaqha Rabe Darma, expressed government support for the authority.

Abbas highlighted that the challenges in real estate stem from a lack of confidence in transactions, with issues like uncertainty over land titles and unregulated practitioners increasing costs and fraud risks. He proposed maintaining a verifiable register of developers and real estate agents, and a modernized land-title verification system.

Jibrin noted regulatory gaps and inadequate consumer protection hinder the sector's potential.