Stakeholders have praised Nigeria’s recent GDP rebasing, which revealed the real estate sector’s value has risen to N41.3 trillion in 2024, making it the third-largest contributor to the economy after trade and crop production.
The sector’s valuation increased significantly from N10.5 trillion in 2023 to N30.7 trillion after rebasing, and further to N41.3 trillion in 2024, reflecting rapid growth driven by asset valuation, formalization of property services, and urbanization.
So far, Experts have highlighted the sector’s extensive value chains, employment generation, and cultural importance of homeownership, emphasizing its vital role in Nigeria’s economic development and the need for increased support from the government.
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