Digital Media Penetration and the Growth of Nigeria’s Real Estate Sector: An Economic Perspective
Abstract
This study examines the transformative role of digital media penetration in the growth of Nigeria’s real estate sector. Historically, the sector was characterized by opacity and inefficiency, but it is now undergoing a profound change fueled by a convergence of rapid urbanization and a burgeoning digital economy. The report details how the sector's recent revaluation to a staggering ?41.3 trillion in 2024, positioning it as Nigeria's third-largest economic contributor, is intrinsically linked to the expanding reach of digital tools and platforms. With 107 million internet users and a thriving social media ecosystem of 38.7 million active users, digital platforms have become critical business channels. The report finds that strategic digital marketing has significantly expanded market reach to the lucrative Nigerian diaspora, while PropTech innovations have democratized investment through flexible rental and fractional ownership models. Furthermore, emerging technologies like blockchain are being explored to create a tamper-proof and transparent land registry system, directly addressing the systemic issues of fraud and corruption that have long plagued the industry. However, the analysis also identifies significant barriers to a full-scale digital transformation. These include a notable digital skills gap among professional practitioners , persistent infrastructural deficiencies, and a tripling of cybercrime incidents in the last five years that introduces new risks of misinformation and scams. The report concludes that while digitalization is a powerful engine of economic growth, its full potential can only be unlocked through a strategic, coordinated effort by public and private stakeholders to address these regulatory, infrastructural, and educational challenges.
Keywords
Digital Media, Growth, Real Estate
Citations
IRE Journals:
Afolabi Isaiah Adedolapo , Afolabi Adedoyin Daniel , Ibironke Aaron Elizabeth
"Digital Media Penetration and the Growth of Nigeria’s Real Estate Sector: An Economic Perspective" Iconic Research And Engineering Journals Volume 9 Issue 3 2025 Page 1015-1024
IEEE:
Afolabi Isaiah Adedolapo , Afolabi Adedoyin Daniel , Ibironke Aaron Elizabeth
"Digital Media Penetration and the Growth of Nigeria’s Real Estate Sector: An Economic Perspective" Iconic Research And Engineering Journals, 9(3)
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IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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