Nigeria's Real Estate Sector Struggles Amid Widespread Demolitions and Inflation Chaos

Nigeria's real estate sector has been severely impacted in 2024 due to a combination of widespread demolitions and rising inflation, which has eroded purchasing power and dealt significant blows to the industry. The sector's growth has been hindered by these challenges, posing serious concerns for investors and developers.

Nigeria's real estate sector suffered a devastating blow in 2024 as high levels of demolition and soaring inflation ravaged the industry. The demolition exercises, carried out across the country, left many property owners reeling as their assets were forcibly seized by authorities. Meanwhile, escalating inflation eroded the purchasing power of consumers, further exacerbating the woes of the already struggling real estate sector. As a result, the sector's growth prospects for 2024 took a severe hit.