A data-led briefing for executives, capital allocators, and regulators navigating a market at an inflection point.

Q1 2026 marks a structural shift – not a cycle. Inflation is easing, rates have turned, and currency volatility is compressing. Yet beneath this surface stability, the fundamentals remain asymmetric: a 14.9M unit housing deficit, rising construction costs, and a capital market still constrained by high borrowing rates.

This report distills what matters:

• Where real estate now sits in Nigeria’s economic hierarchy and why that changes policy and capital flows
• How pricing, yields, and demand diverge across Lagos, Abuja, and emerging cities
• The growing disconnect between developer pricing and market absorption
• Early signals of oversupply risk in premium office assets
• Where institutional and private capital is actually moving and where it’s hesitating

For decision-makers, this is not a market update. It’s a positioning document.