Reps seek real estate regulator to curb fraud, boost housing investment

The House of Representatives in Nigeria is pushing for a comprehensive regulatory framework for the real estate sector to tackle fraudulent practices, protect homebuyers, and unlock investment opportunities. The Chairman of the House Committee on Housing and Habitat, Abdulmumini Jibrin, emphasized that the proposed National Real Estate Regulatory Authority would address institutional gaps, overlapping responsibilities, and weak consumer protection that have hampered the sector's growth.

Jibrin highlighted the need for clear responsibilities for developers and consumers, effective dispute-resolution mechanisms, and defined standards for all stakeholders to ensure the sector's potential can be fully harnessed.

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