Investors across the globe have been urged to tap huge benefits in Nigeria’s real estate sector by pitching their investment tents in the country.
Giving the charge in Abuja on Friday, convener of the Africa International Housing Show (AIHS), Mr. Festus Adebayo, while describing Nigeria as a nation blessed with both human and natural resources, said Nigeria remains a viable real estate investment hub in the African continent.
According to him, Africa’s growing economies are critical to global economic development and progress.
He noted that investors with demand-oriented business strategies could approach Nigeria to capitalize on the country’s increasing middle class, adding that “Nigeria offers exciting retail and distribution business opportunities.”
Adebayo stated that Nigeria’s unexplored resources have the potential to revitalize the African continent’s economy.
“As a result, the commercial world may benefit from Africa’s underutilized markets, human and natural resources.
For instance, Nigeria, Algeria, and Senegal have the most natural gas on the continent, with over 800 trillion cubic feet. Estimates show that natural gas production on the continent would increase by 80% by 2035 and that Africa is well-endowed with natural resources”, he noted.
Speaking on the quality of the workforce, he revealed that Africa, especially Nigeria, has a big youth population, giving it a potential labor benefit for investors.
“More than 60% of Nigeria’s population is under the age of 25. That’s to tell you that Africa’s youth population has a chance for considerable economic transformation and growth. Nigeria is the most populated African country, with a population of approximately 206 million people. Investors might take advantage of the population to create a huge workforce for lucrative prospects”, he said.
While urging prospective investors to take advantage of the forthcoming 16th edition of the AIHS housing and construction expo scheduled to hold between July 25 and 28, 2022, Adebayo noted that the event will better position and equip them with relevant information, guide, and strategies to navigate and explore opportunities that abound in the nation’s real estate sector.
