What do you believe is the single most important factor driving up the cost of living in Nigeria?

The international consultancy firm stated in a report, titled ‘Nigeria Economic Outlook: Seven trends that will shape the Nigerian economy in 2024’, that the country had as much as $900bn worth of dead capital locked up in residential real estate and agricultural land.

It noted that the dead capital in the country included the Federal Government’s abandoned property estimated at N230bn.

According to the report, Nigeria’s housing deficit is estimated at 28 million units, while the population is expected to reach 223.8 million this year.

Despite the huge housing deficit, it noted that demand for housing remained depressed due to high rental and construction costs and declining disposable incomes.

It read in part, “PwC estimates that Nigeria holds as much as $900bn worth of dead capital locked up in residential real estate and agricultural land, including the Federal Government’s abandoned properties estimated at N230bn.”

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