In a pivotal shift that reflects the transformation of Nigeria’s economic landscape, real estate has officially overtaken crude oil and natural gas as the third largest contributor to Nigeria’s Gross Domestic Product (GDP).
This development follows the recent GDP rebasing exercise by the National Bureau of Statistics (NBS), which recalibrated national economic indicators to reflect 2019 as the new base year. And the results? Eye-opening.
According to the report, real estate surged from ₦22 trillion (6.24%) to ₦41.2 trillion (10.78%), placing it just behind crop production and trade—a monumental leap that firmly plants the sector among Nigeria’s top three economic engines.
At Don Rex Luxury Apartments, we’ve always believed in the power of real estate. Now, the data proves it: the sector is not only thriving—it is leading.
The Numbers: Nigeria’s Top Economic Contributors (Post-Rebasing)
- Trade – ₦67.9 trillion (17.42%)
- Crop Production – ₦61.9 trillion (17.58%)
- Real Estate – ₦41.2 trillion (10.78%)
- Telecommunications – ₦25.4 trillion (6.78%)
- Crude Oil & Natural Gas – ₦14.6 trillion (5.85%)
This places real estate ahead of oil for the first time—a seismic shift in a country once dependent on petroleum revenues.
Q1 2025: Real Estate’s Best Start Yet
In Q1 2025, real estate’s nominal growth jumped by 18.08%, while contributing 17.4% to the national GDP, a significant rise from just 8.73% in the prior quarter. In real terms, the sector contributed 13.30%, up from 13.11% in Q1 2024.
This is no fluke. It’s the result of sustained demand, aggressive investment, and the undeniable truth: Nigeria needs more housing.
What’s Fueling This Growth?
A key factor driving this surge is Nigeria’s estimated 28 million housing deficit. According to industry experts, the country must produce at least 700,000 new homes annually just to meet short- to mid-term needs.
But how many developers have the capacity to deliver this volume? How many estates offer real, livable, and titled land in high-demand areas?
That’s where Don Rex comes in.
We are addressing this deficit with precision—developing premium plots, estates, and apartments in strategic locations like Katampe, Lugbe, Jikwoyi, and Katampe Extension. We’re not just building; we’re solving a national problem, one home at a time.
Real Estate: A Sector That Will Never Burst
Some call real estate a bubble. But as Faji Tobiloba, Business Executive at Besitz Group, pointed out in a recent interview:
“People will always need houses. From young people starting families to internal migration, tourism, and global relocation—demand is endless.”
From multi-generational living to urban migration, and from vacation housing to permanent relocation, the demand for shelter is not just consistent—it’s growing. That’s why real estate is a bubble that will never burst.
What This Means for You
As real estate climbs to the top of Nigeria’s economic pyramid, this is the moment to act. Whether you’re a first-time buyer, a serial investor, or someone who simply wants a piece of Nigeria’s next big thing—real estate is your best bet.
And with Don Rex Luxury Apartments, you’re not just buying land or a house—you’re buying into vision, value, and verified development.
Final Word
Nigeria’s economic engine is shifting. The age of oil dominance is fading, and the era of real estate has begun.
Join us. Invest wisely. Choose a home that appreciates in value and in comfort.
At Don Rex Luxury Apartments, we give you the best because you deserve the best.
Source Acknowledgment: Portions of this article are based on a report by Omotoyosi Idowu, published by Premium Times on July 22, 2025. Read the full original article here.
