The South-South region continues to anchor Nigeria’s revenues, but fresh opportunities are opening up across other regions as infrastructure projects and reforms unlock new frontiers, a new report has shown.
The Nigerian Residential Market Review 2025, published by Diya Fatimilehin & Co., notes that while the South-South’s reliance on crude oil leaves it vulnerable to boom-and-bust cycles, investor confidence and urban renewal are transforming cities such as Port Harcourt, Uyo, and Asaba.
Projects driving growth include the 23.2 km Ikot Ekaide–Ikot Okoro–Ikot Ibritam Road and the 12.28 km Ikot Ubo–Odot Road in Akwa Ibom; Section 3A of the Lagos–Calabar Coastal Highway in Cross River; the 67 km Alesi–Ugep Road; and the 94 km dualised East–West Road in Rivers. In Edo State, a 169-key Radisson Hotel is nearing completion in Benin City.
Beyond the South-South, the report shows that each of Nigeria’s six geopolitical zones has unique growth drivers. Lagos maintains its status as the country’s real estate epicentre, with Ikoyi, Banana Island, and Victoria Island ranking among the most expensive locations. A four-bedroom flat in Ikoyi now sells for about N1.5bn.
However, nearby states such as Ogun and Oyo are fast emerging as alternatives, offering lower entry costs and available land. Demand is rising in Alalubosa and Iyaganku GRAs in Ibadan, and Laderin Estate and Olusegun Osoba Hilltop in Abeokuta, with rentals reaching N3m annually. Infrastructure projects such as the Lagos–Ibadan Expressway, metro rail lines, and the proposed Fourth Mainland Bridge are fuelling this trend.
In the North-West, Nigeria’s industrial base and mechanised agriculture are spurring demand in Kano, Kaduna, Sokoto, Katsina, and Birnin Kebbi. New projects, including mini-grids, road networks, and the Kaduna Millennium City, are attracting interest, even as insecurity weighs on parts of the region.
The report concludes that subsidy removal, exchange rate reforms, improved road networks, and urbanisation are reshaping demand for housing nationwide, pushing growth beyond traditional Tier-1 cities.
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