WorldStage— The Nigeria’s House of Representatives today, Monday, November 2, 2026 hosted a crucial National Stakeholders’ Conference at the Transcorp Hilton Hotel, Abuja to deliberate on the establishment of the proposed National Real Estate Regulatory Authority (NRERA).
The event, organized by the Office of the Speaker and the House Committee on Housing and Habitat and chaired by Hon. Abdulmumin Jibrin, brought together key policymakers, property developers, investors, and legal experts to forge a unified regulatory framework aimed at sanitising Nigeria’s booming but highly fragmented property market.
The conference is coming amid intensifying calls for stricter oversight to curb fraudulent activities, eliminate quackery, and restore investor confidence within the housing sector.
Speaking at the event, Dr. Gbadewole Amos Kayode, Vice-Chairman of the Real Estate Developers Association of Nigeria (REDAN) for the FCT-Abuja, hailed the initiative, noting that licensing practitioners under a federal body would finally align Nigeria’s housing sector with global standards.
For years, the lack of a centralised regulatory body has left the industry vulnerable to unscrupulous operators, substandard building practices, and recurring consumer exploitation.
In his opening address, representatives from the National Assembly emphasized that the proposed NRERA is designed to standardise the business of real estate in Nigeria.
The authority will be tasked with licensing practitioners, enforcing the National Building Code, and monitoring financial compliance to prevent money laundering through property acquisitions.
Lawmakers expressed optimism that a robust legal framework would attract significant foreign direct investment and unleash the true economic potential of the sector.
Industry giants, including members of the Real Estate Developers Association of Nigeria (REDAN), backed the legislative push, noting that while Abuja and other major urban centres are experiencing an unprecedented property boom, the market remains volatile without rigid ethical parameters.
Proponents argued that the regulatory authority will strengthen consumer protection, improve transparency in property transactions, and guarantee that off-take agreements are legally secure.
However, the roundtable discussions also highlighted critical concerns regarding potential bureaucratic bottlenecks, with some developers cautioning against overlapping jurisdictions between the proposed federal authority and existing state-level housing agencies and urging the National Assembly to ensure seamless institutional alignment.
As the conference concludes its technical sessions, a joint committee is expected to harmonise the recommendations into the final draft of the NRERA bill.
If passed into law, the authority will mark a transformative shift in Nigeria’s built environment, positioning the real estate sector as a transparent, secure, and dominant driver of the national economy.
