Real estate professionals, developers, and policy advocates gathered in Lagos for the Real Estate Conference and Recognition Award 2026 (RECRA 2026), where industry stakeholders called for stronger government support, stricter regulation, and innovative housing solutions to address Nigeria’s growing housing deficit.

The conference, themed “Unlocking Nigeria’s Real Estate Potential: Strategies for Growth and Transformation,” brought together developers, estate agents, investors, and public figures at the Lagos Chamber of Commerce and Industry (LCCI) Conference and Exhibition Centre in Ikeja.

Speakers at the event said Nigeria’s housing shortage continues to create opportunities for investment while exposing deep structural challenges in affordability, regulation, and access to quality housing.

Why the conference matters

Nigeria faces one of Africa’s largest housing deficits, with estimates ranging between 16 million and 20 million housing units.

Industry experts at the conference argued that solving the crisis would require cooperation between government agencies, private developers, financial institutions, and regulatory bodies.

The event also highlighted growing concerns around transparency in property transactions, excessive agency fees, and the need for professional standards within the real estate sector.

Developers highlight innovation and lack of government support

Josephine Micheal, Brand Communications and PR representative for Frontier Commercial Services Limited, said her company received recognition for introducing innovative housing products into the market.

She defended the company’s award for “Most Outstanding and Innovative Real Estate Company,” pointing to its Mainland Heritage project.

“It’s the first of its kind in the real estate industry in Nigeria, where every plot in an estate comes already fenced and gated before the buyer even makes a deposit,” she said.

Micheal said the company had operated for six years and was currently developing 100 housing units around the Ikola axis of Lagos State.

However, she said developers continued to struggle without sufficient government support.

“There’s no government support to actually assist us to develop quality properties,” she said.

She added that the company planned to host a large industry event in July 2026 aimed at bringing together policymakers and developers to discuss long-term housing solutions.

The company also promoted flexible payment plans, allowing buyers to pay in instalments over six to 12 months.

Micheal encouraged Nigerians to invest in property despite economic pressures.

“Don’t wait to buy real estate. Buy real estate and wait,” she said. “Real estate is the truest form of wealth creation that we have.”

‘I was homeless before’ — developer shares personal story

Another speaker, Hon. Blessing Maduka of BMS Global, shared her personal experience of homelessness in Lagos, saying it inspired her commitment to affordable housing and philanthropy.

“I have been homeless in my life. In this Lagos, I have been homeless before,” she said.

Maduka said her company created a Real Estate Executive Club designed to help members access properties through subsidised or free ownership initiatives.

According to her, the group has already distributed properties valued at more than ₦50 million to beneficiaries.

She argued that Nigeria’s housing sector remained underdeveloped despite growing demand.

“We have not started. Housing deficit is still over 16 million,” she said. “Real estate is still super underdeveloped in Nigeria.”

Maduka also used the platform to advocate greater female participation in politics and governance, calling for at least 35% representation for women.

“We are not happy that we only have 4% of women in governance,” she said.

Industry regulator pushes for stricter standards

Guest speaker Godwin Alenkhe, National President of ERCAAN, focused on regulation, ethics, and professionalism within the estate agency sector.

Speaking under the conference theme, “Unlocking Nigeria’s Real Estate Potential: Strategies for Growth and Transformation,” Alenkhe said improving standards and enforcing compliance were essential to restoring trust in Nigeria’s property market.

He said practising estate agents in Lagos State should be licensed and properly trained, warning against unethical practices in the sector.

According to him, a proposed Lagos State regulation could cap agency fees at 10%.

“Even before the law is passed, you must not be more than 10%,” he said.

Alenkhe said ERCAAN was developing a digital database to profile tenants and property transactions in an effort to reduce fraud and improve accountability.

He also called for stronger collaboration between government and private developers, arguing that many developers receive little institutional support despite contributing significantly to housing delivery.

“Private developers are really trying to make this happen in this country,” he said.

The ERCAAN president further stressed the importance of anti-money laundering compliance in property transactions, urging estate agents to carry out due diligence on suspicious buyers.

Industry reactions

Several attendees welcomed the discussions, saying the conference reflected the urgent need for reforms in the property sector.

Real estate investors at the event expressed concerns about rising construction costs, land documentation delays, and limited access to affordable financing.

Others said clearer regulation and professional training could help improve investor confidence and reduce fraudulent practices in the industry.

What’s next for Nigeria’s housing sector?

Stakeholders at the conference agreed that Nigeria’s growing population and urbanisation would continue to drive demand for housing in the coming years.

Experts said the sector could create jobs, attract investment, and stimulate economic growth if government policies become more supportive and transparent.

However, they warned that without coordinated reforms, millions of Nigerians could remain unable to access affordable housing.

Lagos is set to host some of Nigeria’s leading real estate professionals on May 9, as the Real Estate Conference and Recognition Awards (RECRA) 2026 takes place at the Lagos Chamber of Commerce and Industry Conference and Exhibition Center.

The annual event will spotlight outstanding contributions across the sector, with organisers highlighting a growing number of entries reflecting increased activity and competition in Nigeria’s real estate and infrastructure landscape.

Organisers say the awards process involved multiple stages of screening, focusing on measurable impact, innovation, and the real-world relevance of nominees’ work.

Why it matters

Industry observers say platforms like RECRA are becoming increasingly important in recognising professionals whose work goes beyond theory and delivers tangible results.

This comes at a time when Nigeria’s housing and infrastructure sectors face rising demand, urbanisation pressures, and the need for sustainable development strategies.

By celebrating innovation and excellence, the event aims to encourage higher standards and inspire investment across the industry.

What organisers say

According to Wale Abiodun, RECRA has grown into a national benchmark for recognising excellence in real estate.

“RECRA is a national annual recognition programme organised by Prestige Real Estate News to recognise individuals and organisations that have demonstrated exceptional professional excellence, innovation, and measurable impact within the real estate sector.”

He added that the platform has, over the years, honoured distinguished practitioners and organisations shaping the industry.

Organisers also emphasised that the awards celebrate “outstanding, exceptional individuals and corporate organisations” contributing significantly to the growth and development of Nigeria’s real estate sector.

Industry perspective

Analysts say recognition platforms like RECRA can help drive credibility and trust in a sector often challenged by regulatory gaps and inconsistent standards.

They also provide visibility for developers and professionals delivering innovative housing solutions, especially in urban centres like Lagos, where demand continues to rise.

What to expect

The 2026 edition is expected to bring together key stakeholders, including developers, investors, policymakers, and consultants.

The event will also feature guest speakers discussing the theme:

“Unlocking Nigeria’s Real Estate Potential: Strategies for Growth and Transformation.”

Organisers say the conference will serve as a platform for networking, corporate branding, and industry collaboration.

What’s next

As Nigeria continues to grapple with housing deficits and rapid urban expansion, stakeholders say conversations from RECRA 2026 could shape future policies, partnerships, and investment decisions in the sector.

Adron Homes & Properties has announced a nationwide Sallah Mega Promo, offering up to 30% discount on land purchases alongside flexible payment plans and festive gift rewards for subscribers.

The company said the limited-time offer is designed to make property ownership more accessible while aligning with the spirit of Eid al-Adha, widely known as Sallah in Nigeria.

Subscribers can spread payments for land purchases over 36 months, with initial deposits payable in instalments across four months, easing the financial burden on buyers.

Why it matters

The promo comes at a time when rising inflation and economic pressures have made home ownership increasingly difficult for many Nigerians.

By offering discounts and extended payment options, Adron Homes is targeting middle-income earners and first-time investors seeking long-term financial security through real estate.

Property analysts say such promotions could stimulate demand in Nigeria’s real estate sector, particularly during festive periods when spending typically increases.

What the company says

In a statement, the company linked the initiative to the values of the season.

“Sallah is a time of giving, sacrifice, and celebration. At Adron Homes, we believe there is no better time to empower families and investors with the opportunity to own land while also receiving valuable gifts that enhance their celebration.”

The firm added that the campaign reflects its ongoing commitment to affordable housing and customer-focused incentives.

Gift rewards for subscribers

Adron Homes said subscribers will receive various gift items depending on their investment level.

Platinum subscribers may receive:

Bags of rice (10kg–50kg)

Food packs including chicken and seasoning

Goats and rams for Sallah celebrations

A cow or double-door refrigerator for high-value purchases

Compact plot subscribers are also eligible for:

Bags of rice

Vegetable oil

Cartons of noodles

Goats and other household essentials

What’s next

The company urged prospective buyers to take advantage of the offer through its official channels, noting that the promo is available for a limited time.

With Sallah fast approaching, industry observers expect increased activity in property sales as developers roll out similar incentives.