Nigeria’s real estate industry set for ESG-driven transformation

…as LCCI holds knowledge-sharing conference on ESG implementation

Nigeria’s real estate sector is set for a sustainability revolution, driven by growing demands for Environmental, Social, and Governance (ESG) compliance.

To drive advocacy and implementation of ESG across the construction, engineering, and real estate sectors, the Lagos Chamber of Commerce and Industry (LCCI) will be holding a knowledge-sharing conference in Lagos.

Soji Adeniji, chairman of the LCCI construction and engineering group, in a briefing recently, said the upcoming conference would signal a major shift towards transparency, sustainability and accountability in construction, engineering and real estate sectors.

Adeniji noted that Nigeria’s built environment is at a critical juncture, with urbanisation and infrastructure investments unmatched with sustainability practices.

“We are urbanising rapidly and investing heavily in infrastructure,” he said. “Yet, we continue to face challenges, building failures, regulatory inconsistencies, environmental degradation, and governance gaps in project delivery,” he added.

He noted that the challenges are systemic and require a structured response that drives ESG compliance. “ESG is not a buzzword. It is a practical framework for doing things right,” he said.

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He said that ESG provides a practical framework for sustainable construction, protection of lives, improved governance in project execution and inclusiveness.

“Sustainable construction is no longer an option. It is the foundation for economic growth, investor confidence, and national development.”

He explained that the conference objective is to galvanise stakeholders, engage regulators and provide practical pathways for ESG implementation, while strengthening collaboration across the seven built environment professions and positioning Nigeria competitively within global sustainability standards.

He urged institutions, regulators, developers, financial institutions and professional bodies to move beyond dialogue and take deliberate action.

Speaking also, Michael Oladiji, chairman of the LCCI real estate group, stressed that ESG integration was critical to unlocking investment and improving infrastructure quality in the country.

“ESG is no longer optional. It is now becoming a significant framework for not just investment decisions but also for corporate goodwill.” “In Nigeria, adopting ESG principles presents challenges as well as tremendous opportunities.”

He noted that integrating ESG compliance within the built environment is not just a compliance issue but also about galvanising investment and ensuring quality as well as competitiveness for the sector.

Speaking about the conference theme ‘Mainstreaming ESG Compliance in the Engineering, Construction and Real Estate Sector in Nigeria’, Oladiji emphasised the growing importance of ESG in investment decisions and corporate performance.

Citing data from the National Bureau of Statistics, he said that the real estate sector contributed 13.4 percent to Nigeria’s Gross Domestic Product in 2025, underscoring the need to prioritise it within national economic policy.
“The goal is to take the ESG adoption from concept to action, from policy discussion towards practical implementation within the built environment,” he stressed.

Muhammad Balogun, group managing director and CEO of Global Property and Facilities International, said governance remains central to achieving ESG objectives.

Balogun, the keynote speaker for the event, emphasised the need for practitioners to focus on governance, internal governance, saying that it helps organisations to be stronger and adopt ideas easily.

He added that the conference would focus on actionable outcomes rather than discussions alone.
“It is not a talk show; it is not a conversational event; it is a call-to-action event… we are going to move forward from just thinking about ESG to seeing the value,” Balogun said.

He noted that practical case studies from Nigeria and Africa would be presented to demonstrate the benefits of ESG adoption and encourage wider uptake across the industry.