The House of Representatives is moving to introduce stronger regulations in Nigeria’s real estate sector to tackle property fraud, protect homebuyers and attract investment into the housing market.
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Chairman of the House Committee on Housing and Habitat, Abdulmumini Jibrin, said the proposed National Real Estate Regulatory Authority (NRERA) would address regulatory gaps, overlapping responsibilities among government agencies and inadequate consumer protection in the sector.
He spoke on Monday in Abuja at a stakeholders’ conference on the proposed authority, themed, “One Vision, One Ecosystem, One National Housing and Real Estate Plan.”
Jibrin said an assessment conducted by his committee had revealed that Nigeria was yet to harness the full economic potential of the housing sector because of weak regulation, institutional gaps and the absence of a coordinated national framework.
He said although the Minister of Housing and Urban Development was responsible for driving government policies in the sector, several agencies and institutions involved in housing matters operated outside the ministry’s direct jurisdiction.
“There are enormous challenges. We have a wonderful Minister of Housing. But as the Minister of Housing of the Federal Republic of Nigeria, he does not have jurisdiction over all the agencies and institutions that have to do with housing. There is a link; there is a gap. So, there is duplication of functions,” he said.
The lawmaker said the proposed legislation would strengthen existing institutions and establish clear responsibilities for operators across the housing value chain.
He noted that the challenges went beyond unethical practices by property developers, saying prospective homebuyers also needed adequate information and financial awareness before committing their resources to housing projects.
According to him, some buyers enter into property agreements without properly assessing their financial capacity, while developers face inflationary pressures, policy changes and other economic realities that could affect project delivery.
Jibrin said the proposed authority would not take over the constitutional responsibilities of state governments or the statutory functions of professional bodies.
“The bill to create the National Real Estate Regulatory Authority is not going to take over the powers of any state government. We are not going to compete. We are only going to cooperate. And for professional bodies, nobody is taking away your responsibility. It will be protected,” he said.
He added that the authority would strengthen government agencies and ensure they performed their statutory responsibilities effectively.
In his remarks, the Minister of Housing and Urban Development, Muttaqha Rabe Darma, said the Federal Government was intensifying efforts to address structural and institutional challenges confronting the housing sector. Darma has served as Housing and Urban Development Minister since April 2026.
Darma said the ministry had organised a similar stakeholders’ engagement in July to examine the country’s housing deficit, with estimates indicating a shortfall of more than 50 million housing units.
He said access to mortgage financing remained low despite Nigeria’s large population, limiting the ability of many citizens to own decent homes.
The minister noted that despite the existence of the Federal Mortgage Bank and other mortgage institutions, the number of mortgages provided annually remained inadequate to meet the country’s housing needs.
He expressed support for the proposed regulatory authority but urged stakeholders to consider placing it under the Ministry of Housing and Urban Development to ensure coordination with existing government policies.
He cited Singapore, Dubai, Malaysia, the United Kingdom and Rwanda as jurisdictions with similar regulatory institutions operating within ministries responsible for housing and the built environment.
Darma also called for coordination between the proposed authority, the National Housing Finance Authority and the mortgage policy being developed by the Federal Government.
Also speaking, the Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated, Armstrong Ume Takang, called for careful examination of the proposed legislation to ensure it did not conflict with existing laws or discourage private investment.
Takang identified the relationship between the proposed legislation and the Land Use Act, the regulation of professional practices and the possibility of excessive regulation as issues requiring attention.
He urged lawmakers to ensure that the proposed authority complemented existing institutions without creating unnecessary bureaucratic structures or increasing government expenditure.
He assured stakeholders of the government’s readiness to work with the legislature and private-sector operators to develop a transparent and sustainable regulatory framework.
In his keynote address, Speaker of the House of Representatives, Tajudeen Abbas, called for a digitised property verification system to address fraudulent transactions, multiple ownership claims and disputes associated with land and property purchases.
Abbas said the proposed authority should maintain a verifiable register of developers, estate agents and property projects to enable prospective buyers to confirm the identity, licences and compliance records of operators before making payments.
He also proposed that funds paid by buyers for qualifying off-plan developments should be kept in protected accounts, with withdrawals tied to verified construction milestones.
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