Lagos: The Lagos State Commissioner for Housing, Mr. Moruf Akinderu-Fatai, emphasized the importance of clarity, predictability, and coordination in tax obligations for securing long-term investments and stimulating housing delivery in the construction and real estate sector by 2026. He made these remarks at the Nigerian-British Chamber of Commerce (NBCC) Construction and Real Estate Outlook 2026 event held in Lagos.
According to News Agency of Nigeria, the theme of the event was ‘Navigating Reforms, Driving Resilience: Tax, Insurance and the Future of Nigeria’s Construction and Real Estate Sector in 2026’. Akinderu-Fatai highlighted the global reshaping of construction and real estate sectors driven by fiscal reforms, insurance restructuring, climate imperatives, financial tightening, and evolving investor expectations. He asserted that Nigeria’s distinction would stem from how stakeholders intelligently respond to the changing policy environment.
The commissioner described construction and real estate as vital economic development pillars that bolster industrial activity and stimulate supply chains. With new tax reforms initiated on January 1, 2026, the sector faces a defining inflection point. He explained that taxation affects every stage of the construction and real estate value chain, emphasizing that the main challenge lies in the clarity, predictability, and coordination of tax obligations across different government levels.
Akinderu-Fatai underscored that the long-term and capital-intensive nature of construction demands transparent tax policies to attract investment, urging developers and investors to shift from passive compliance to proactive adaptation. This involves strengthening internal tax planning, engaging regulators early, and leveraging professional advisory services.
Additionally, the commissioner pointed out the strategic role of insurance as a risk management tool that enhances resilience and supports financing. Under Governor Babajide Sanwo-Olu’s THEMES+ Agenda, Lagos State has embedded resilience into governance and planning. He pledged continued policy stability, institutional strengthening, and partnerships, including deeper collaboration between Nigeria and the United Kingdom, to shape the future of the built environment.
Prof. Biodun Adedipe, Founder of B. Adedipe Associates, highlighted the common challenges faced by developing countries, such as food, energy, manufacturing, infrastructure, and housing deficits. He noted that Nigeria’s projected economic growth of 4.4% in 2026 would be supported by factors like a large population, rapid urbanization, and reviving manufacturing. Adedipe emphasized that improvements in infrastructure would positively impact business costs and that sustained reforms would enhance global competitiveness.
Adedipe also remarked on the remarkable performance of the real estate sector in 2025, contributing significantly to Nigeria’s Gross Domestic Product (GDP). He outlined the sector’s growth drivers, including infrastructure expansion, targeted capital deployment, logistics and warehousing, and digital assets. However, he cautioned about challenges such as inflation rates, interest rates, rental demand, construction costs, infrastructure delivery, and investor behavior.
Mr. Abimbola Olashore, President of NBCC, noted Nigeria’s ongoing fiscal and regulatory reforms, including evolving tax structures and strengthening insurance frameworks. He emphasized that these changes present both challenges and opportunities for the construction and real estate sector, a critical driver of infrastructure, housing, and employment. Olashore advocated for tax policies that encourage development and insurance reforms that strengthen risk management and investor confidence. He also stressed the importance of strong and strategic public-private sector collaboration.
Mr. Antonio Campagnoli, World President of The International Real Estate Federation (FIABCI), reaffirmed the federation’s commitment to fostering dialogue, sharing expertise, and building meaningful bridges between the private and public sectors.