The rebased GDP figures reveal that the real estate sector now accounts for 10.7%, up from 6.2%, while the construction sector now accounts for 5.2% of total GDP.
Nigeria’s real estate sector has overtaken oil and gas to become the third‑largest contributor to the nation’s Gross Domestic Product, the Statistician‑General of the Federation, Mr. Semiu Adeniran, announced on July 31, 2025 .
Addressing stakeholders at the African International Housing Show in Abuja, Adeniran said the rebased GDP now shows real estate contributes 10.7 percent, up from 6.2 percent, while construction accounts for 5.2 percent, bringing their combined share to 15.9 percent, compared to a prior total of 12.4 percent of GDP .
He emphasised that the increase represents a ₦14.6 trillion uplift in value terms, noting the rebasing to a 2019 reference year captures emerging economic dynamics and formal and informal housing activities .
“This is highly significant by any measure and reflects the expansion of housing activities … underscoring the sector’s growing influence on national growth,” he said. Adeniran also highlighted the urgency of addressing Nigeria’s housing deficit and urged the collection of more granular data to inform sustainable housing policy .