Nigeria’s huge housing deficit, a ‘Goldmine’ for investors, says Braimoh

By Omeiza Ajayi

ABUJA: Development expert, Olayinka Braimoh, has urged investors to view Nigeria’s housing deficit not as a challenge but as a major economic opportunity.

Speaking at the Africa International Housing Show in Abuja, Braimoh presented a strategic plan for unlocking the potentials of the real estate sector.

Braimoh, who is the Chief Executive of Hall 7, a real estate firm, highlighted compelling data to support his analysis, noting that while the sector has a steady annual growth rate of over 3.5%, a vast gap still exists between supply and demand, making it a lucrative frontier for investors.

He also emphasized that innovation must go beyond construction and that the sector must embrace digital transformation to drive industrial growth.

Braimoh called on regulatory bodies to adopt digital platforms for submitting and approving development proposals.

He argued that “this would increase efficiency and reduce the lack of transparency, allowing for approvals in as little as 10 to 20 days”.

The realtor also discussed implementing technology to monitor urban development, which would enable city offices to track changes in building structures in real-time.

“This innovation would not only improve development processes but also have a direct, positive impact on the economy.

By reducing the time developers spend on approvals, a significant amount of capital could circulate more rapidly, benefiting the entire economic ecosystem”, he said.

Braimoh urged greater public-private collaboration to address infrastructural gaps and accelerate the sector’s digital transformation.

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