Real Estate and Nigeria Economic Growth Nexus: An Empirical Approach

Abstract

This study empirically examined the real estate sub-sector and Nigerian economic growth nexus using data for the period 1981 to 2023. The real estate sub-sector has the potentials to contribute to the economy but is faced with a number of challenges. Inadequate attention, non progressive policies and hurdles with land acquisition title and developments amongst others possess challenges to rapid growth of real sector. The specific objective was to assess the effect of real estate sub-sector on gross domestic product in Nigeria. This study obtained data for real sector and gross domestic product from the CBN statistical bulletin, 2025. The ex-post factor research design was adopted, while the descriptive statistic analysis, ADF unit root test and regression analysis were carried out on the data at 5% level of significance. Findings of the study showed that: that real estate had positive and significant effect on the gross domestic product of Nigeria for the period reviewed. The study recommended strongly that policy makers in Nigeria should embark on policy measures that would ensure a conducive climate for both local and foreign investors to thrive in the real estate sector.