Oyo State has become a model for smart, sustainable and investor-friendly real estate development, Special Adviser on Housing and Urban Development to Governor ‘Seyi Makinde and convener of the Real Estate Conference 2025, Hon. Olakunle Akinsete, has said.
He said that the state has, over the last six years, undergone transformations that position the real estate sector as a key pillar of its economic expansion agenda, pointing out how the administration of Governor Makinde made deliberate efforts to strengthen institutional frameworks, reform land administration and improve access to service land for both public and private development.
Akinsete stated this recently, at the Real Estate Conference 2025 held at the JOGOR Event Centre, Ibadan, themed “Real Estate and the Economic Development of Real Estate, Strategies’ for Success” and hosted by the Developers Association of Nigeria (REDAN) in collaboration with the Oyo State Government.
He added that the state has also advanced infrastructural renewal, supported urban regeneration, and promoted public-private partnership that has opened up the frontiers of real estate investment.
He tasked real estate stakeholders to celebrate the state as a model for “smart, sustainable, and investor-friendly real estate development in Nigeria,” noting, however, that they must also work hand in hand with the government to ensure that the growth of the sector is strategic, inclusive and sustainable, anchored on data, driven by innovation and supported by a transparent regulatory environment.
Akinsete stated that the conference, which brought together real estate developers and stakeholders in the real estate sector was convened to foster dialogue on strategies that can accelerate growth and innovation within Oyo State’s dynamic real estate landscape and to also build on that momentum by positioning the state as a leader in the real estate sector, promoting sustainable development, and creating opportunities for professionals to connect and grow.
Participants at the event deliberated on how the real estate industry can contribute more effectively to the state’s economic transformation and sustainable growth.
While speaking, Akinsete said: “This year’s theme ‘Real Estate and the Economic Development of Real Estate Strategies for Success,’ could not have come at any better time. Across the world, the real estate sector stands as a powerful driver of economic growth, creative jobs, attractive investment, and shaping cities that are livable, inclusive, and sustainable.
“In Oyo State, we are witnessing a bold transformation that positions the real estate sector as a key pillar of our economic expansion agenda. Over the past few years, our administration has made deliberate efforts to strengthen institutional frameworks, reform land administration, and improve access to service land for both public and private development.
“We have also advanced infrastructural renewal, supported urban regeneration, and promoted public-private partnership that has opened up the frontiers of real estate investment.
“Yet, as we celebrate this milestone, we recognise that there is still more to be done. The growth of the real estate in Oyo State must be strategic, inclusive, and sustainable, anchored on data, driven by innovation, and supported by a transparent regulatory environment.
“This conference, therefore, provides us a timely platform to reflect, re-imagine and realign our strategies for success. I am particularly delighted to see such an impressive gathering of stakeholders, from developers, investors, to financial institutions, to public academics and policy experts.
“Your insights and experience will be invaluable in shaping the policies that ensure the real estate sector contributes meaningfully to the wealth creation, the job creation, and the improvement quality of life of our citizens.
“On behalf of the state government, I thank all the participants, leaders, and partners, who have made this event possible.”
Earlier, the Speaker of the Oyo State House of Assembly and keynote speaker at the event, Rt. Hon. Adebo Ogundoyin, highlighted the importance of real estate to humanity, lauding Akinsete and the real estate developers association for their tireless dedication and strategic foresight in organising the conference.
He noted that the theme of the conference was timely, as the real estate sector has continued to stand out as one of the major planks for growth, urban development, job creation and sustainable wealth generation.
Ogundoyin, who maintained that he was excited by the positive testimonies of real estate stakeholders that Oyo State has become a major investment destination for real estate business, noted that Governor Makinde has, indeed, taken several strategic steps to address challenges in the real estate sector, including building strong infrastructure and digitisation of land records through the Oyo State’s Geographical Information System (OYOGIS).
He added that the administration also streamlined land documentation, making title registration faster, more transparent and less prone to disputes or fraud, as well as putting in place reforms in physical planning and urban development.
He said: “In the last few minutes, I have heard goodwill messages from our guests and stakeholders of the real estate sector in Oyo State. I have been impressed and I am personally more encouraged.
“With what I have seen and heard today, I’m impressed with how far the Oyo State Government and the private sector have been working together to ensure that the real estate space is safe, secured and viable for investment.
“As we heard from the chairman of Adron Homes, people who have left Ibadan before have found their way back. People from Abuja, people from Lagos have all identified that Oyo State and Ibadan in particular, is the next destination for anything that has to do with real estate.
“This is encouraging and this is a fact, because I have had meetings with various private investors in this area.”
Ogundoyin noted, however, that despite the potential in the real estate sector, many challenges, including legislative hurdles, bureaucratic bottlenecks, inadequate infrastructure, multiple taxation, insecurity and limited access to financing, among others, inhibit its expansion and growth.
The Speaker maintained that these challenges must be addressed through comprehensive legal and institutional reforms, adding that to solve the challenges, “there must be a synergy and collaboration between government, private sectors and professional bodies and this is part of what we’re seeing here today.”
He commended the Oyo State Government for getting things right with regards to addressing these challenges, noting that its intentionality on public-private partnership to develop affordable housing schemes like the Ajoda New Town and several GRAs and its improvement of the ease of doing business have helped the growth of the real estate sector by simplifying process for land acquisition and real estate investments.
He pointed out how the House of Assembly on his watch has collaborated in making the reforms that have helped reshape the real estate sector with the enactment of Real Estate Properties Protection Law, 2023 and the Oyo State’s Land Control and Administration Law, 2023.
