The Nigerian Federal Government has announced plans to introduce a comprehensive regulatory framework for the country's housing sector.
The move comes as the real estate and construction industries are reported to have contributed N77 trillion to the economy, underscoring the sector's growing weight in national output.
The regulatory push aims to formalize and streamline operations within the housing market.
By establishing clearer guidelines, the government seeks to enhance transparency and potentially attract further investment into a sector that has become a significant driver of economic activity.
This development follows recent government efforts to boost housing delivery.
Authorities are currently reviewing a proposal from a Chinese construction firm to build 10,000 homes within a 30-month timeframe.