• By Dr. Decent Oghenetega Akar
• Nigerian Real Estate Market Insights

Nigeria’s Real Estate Rises to 3rd Largest Sector After GDP Rebasing — A New Era for Smart Investors

Real Estate Takes the Spotlight

Nigeria’s real estate sector has officially become the third-largest contributor to the nation’s economy, following the latest GDP rebasing by the National Bureau of Statistics (NBS).

According to revised figures, the sector’s contribution to GDP skyrocketed from ₦10.5 trillion in 2023 (old base year) to ₦30.7 trillion under the rebased series — and further to ₦41.3 trillion in 2024. This historic leap places real estate just behind Trade (₦68 trillion) and Crop Production (₦61.9 trillion), while overtaking long-standing drivers like Telecommunications, Construction, and even Crude Petroleum & Natural Gas.

Why the Growth?

The surge is no accident. The rebasing reflects:

• More accurate property valuations across Nigeria
• Better data capture for rentals, brokerage, and land transactions
• Rising urbanization fueling demand for housing and estates
• Increased formalization of real estate services

These adjustments confirm what industry leaders already knew: Nigeria’s real estate was historically undervalued in GDP computations. Now, the numbers finally reflect the reality on ground.

A Shift Away From Oil Dependence

One of the most striking revelations is oil’s shrinking dominance. While crude petroleum still contributed ₦14.6 trillion in 2024, it now ranks 7th overall. The baton of growth is clearly passing to non-oil sectors — with real estate leading the charge.

Service-driven industries like Professional & Technical Services, Public Administration, and even Nigeria’s creative economy (film & music) also posted significant gains, showcasing the country’s expanding economic diversity.

What This Means for Investors

For investors, this isn’t just a statistic — it’s a wake-up call. Real estate is no longer a side player; it’s a pillar of Nigeria’s economy. The rebased data proves what forward-thinking investors have always believed: land and property are the foundation of sustainable wealth.

At Tech City Real Estate Ltd, we’ve seen this transformation firsthand. Our estates, including The Meridian Estate strategically located along the Woji–Aleto–Alesa–Refinery Road & Bridge corridor,, are positioned to benefit directly from Nigeria’s infrastructure expansion and surging property demand.

When you invest in real estate with Tech City, you’re not just buying land — you’re securing a stake in Nigeria’s fastest-rising sector.

Tech City Real Estate at the Forefront

At Tech City Real Estate Ltd, we are proud to be part of this economic transformation. Our estates, including Emerald Heights, The Nexus Estate, Happy City Luxury Estate, and Eagle Heights, are designed to give investors not just a property, but a stake in one of Nigeria’s fastest-growing wealth-building industries.

With a proven track record of delivering genuine, secure, and profitable properties, Tech City Real Estate remains your trusted partner in tapping into this booming sector.

Final Thoughts

Nigeria’s GDP rebasing has pulled back the curtain on the true size and power of the real estate sector. From undervaluation to dominance, the shift is clear: property is now one of the strongest drivers of growth in Africa’s largest economy.

For smart investors, the message is simple: This is the time to invest.
With Tech City Real Estate Ltd, you can move with confidence, knowing your investment is in a sector that has officially cemented its place as Nigeria’s third-largest contributor to GDP.

📞 Contact Tech City Real Estate Ltd Today
KM 25, Suite 14, DDS Shopping Mall, Airport Road, Rukpokwu, Port Harcourt, Rivers State, Nigeria
Tel: +234 916 213 9345 | +234 904 676 8832
Email: info@techcityrealestatecompany.com
Website: www.techcityrealestatecompany.com