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REDAN Calls for ESG Adoption in Nigeria’s Real Estate Sector to Boost Sustainable Housing

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  • Modified: April 15th, 2025
REDAN Calls for ESG Adoption in Nigeria's Real Estate Sector to Boost Sustainable Housing

Lagos, Nigeria – The Real Estate Developers Association of Nigeria (REDAN) has issued a strong appeal to developers and stakeholders to integrate Environmental, Social, and Governance (ESG) principles into housing projects, aiming to create a sustainable real estate ecosystem that supports healthy living and environmental conservation. 

Why ESG Matters for Nigeria’s Housing Sector 

At a recent press briefing in Lagos, REDAN President Akintoye Adeoye emphasized that adopting ESG-compliant practices in housing development would: 

  • Reduce environmental degradation and support Nigeria’s climate goals 
  • Enhance developers’ reputations, improve risk management, and increase property values 
  • Provide homebuyers with healthier living spaces, lower utility costs, and sustainable communities 
  • Boost Nigeria’s economic growth, reduce urban poverty, and position the country as a leader in sustainable development in Africa 

“For developers, ESG means better market competitiveness. For homebuyers, it means affordable, eco-friendly housing. For Nigeria, it means progress toward a greener future,” Adeoye stated. 

REDAN’s ESG Committee Driving Change 

  • To accelerate this vision, REDAN established an ESG Committee in 2024, tasked with: 
  • Developing sustainable real estate frameworks 
  • Conducting industry audits 
  • Engaging stakeholders to promote ESG compliance 

Olusola Enitan, Chairman of the REDAN ESG Committee, highlighted the committee’s achievements: 

  • Development of the Nigerian Real Estate ESG Handbook (set for launch in April) 
  • Capacity-building programs to train developers on ESG implementation 
  • Strategic partnerships with key stakeholders to drive advocacy 

 Upcoming Initiatives & Call for Collaboration 

The committee has outlined an ambitious 2024 agenda, including: 

  • Sustainability Conference in partnership with the Mortgage Bankers Association of Nigeria (MBAN) 
  • Publication of an annual ESG performance report 
  • Nationwide training programs for real estate developers 

“We urge all developers to prioritize ESG in their projects. Let’s build a future where every development improves lives while protecting our environment,” Enitan said. 

REDAN also called for collaboration with government agencies, financial institutions, NGOs, and academia to fully integrate ESG into Nigeria’s real estate sector. 

 The Way Forward 

With climate-resilient housing gaining global attention, REDAN’s push for ESG adoption could transform Nigeria’s real estate industry, making it more sustainable, inclusive, and competitive in Africa’s evolving property market.