ALP NG & Co. Review on Current Landscape of Property Development in Nigeria and Legal Considerations

Introduction

Property development in Nigeria has evolved from crude indigenous structures fabricated with local building materials like mud, wood, and thatch during the pre-colonial/early colonial era, to complex structures designed to either maximise limited plot sizes or cover large expanses of land, with multiple floors and advanced technologies/materials in the present dispensation.

Real Estate, a critical factor of production, is one of the key sectors that could help re-energize the Nigerian economy. Renowned and relatively new developers are as active as ever, designing, commissioning, and completing massive projects. The pertinent issue is to evolve solutions to unclog real estate transactions and realise the sector’s potential as a major contributor to the Nigerian economy.