The Housing Development Advocacy Network (HDAN) has urged the Federal Government to establish a formal regulatory framework for real estate developers and agents in Nigeria.
- +HDAN urges framework for regulating real estate developers, agents in Nigeria
The call was contained in a statement signed on Thursday by HDAN Executive Director, Festus Adebayo.
The call was contained in a statement signed on Thursday by HDAN Executive Director, Festus Adebayo.
The group argued that weak oversight has created room for unethical practices, weakened investor confidence, and worsened Nigeria’s housing challenges.
HDAN said the absence of a comprehensive regulatory structure for developers, marketers, and property agents has enabled project abandonment, housing misrepresentation, and exploitation of buyers, particularly among diaspora investors.
According to the group, stronger regulation would enforce delivery timelines, protect subscribers, reduce fraud, and professionalize the sector through clear standards and minimum entry requirements.
Nigeria’s real estate market remains largely fragmented, with many developers and agents operating outside formal regulation, unlike trained estate surveyors under the Nigerian Institution of Estate Surveyors and Valuers (NIESV).
These longstanding issues have contributed to public distrust and slowed progress toward addressing Nigeria’s significant housing deficit.
Beyond regulation of agents and developers, HDAN’s broader housing reform agenda includes several measures aimed at improving affordability and efficiency across the sector.
The organisation added that stronger coordination among housing institutions such as the Federal Housing Authority and Federal Mortgage Bank of Nigeria would improve project delivery nationwide.
Concerns over weak regulation are reinforced by growing complaints from Nigerians who have suffered financial losses, delayed allocations, and shifting project terms in property transactions.
These experiences highlight the urgent need for stronger legal protections and institutional reforms to restore trust, improve transparency, and attract sustainable investment into Nigeria’s real estate sector.
