Housing and home ownership has been a perennial challenge in Nigeria getting to a crisis point. In this interview, Mr Mayokun Oyesiku, Managing Director/ Chief Executive of Blaqcrest Homes Limited, explained the situation and proffered the solutions including the role his firm is playing presently.

Excerpts.

By Emeka Anaeto, Business Editor

How can real estate developers, policymakers, and financiers realistically collaborate to tackle the twin challenges of affordable housing and the growing shortage of adequate shelter in Nigeria’s rapidly expanding urban centres?

From my experience over the last nine years, collaboration has to move from theory to structure. Developers understand land, construction realities, and market demand. Policymakers control land use, approvals, and incentives. Financiers provide the capital backbone.

The realistic collaboration point is policy-backed private execution; government simplifies land access and approvals, financiers create flexible, long-tenor funding structures, and developers deliver efficiently at scale. When incentives like tax reliefs, faster titling, and infrastructure partnerships are aligned with private sector accountability, affordable housing becomes sustainable, not just aspirational.

With land titling reforms and digitization expected to reduce land fraud and speed up approvals in Nigeria’s real estate market this year, how is Blaqcrest Homes ensuring that Patmos Gardens’ titles and documentation are fully verified and protected before the allocation event?

At Blaqcrest Homes, documentation integrity is non-negotiable. Before any allocation, Patmos Gardens undergoes multi-layered verification — from family ownership checks and survey authentication to title confirmation with relevant land authorities and independent legal review.

Beyond verification, we maintain complete documentation transparency for our clients. Allocation is not just a ceremonial event for us; it is the final confirmation that every buyer’s investment is legally protected. Digitization only strengthens our internal compliance culture, it doesn’t replace it.

Considering that proximity to major infrastructure often drives land value appreciation (especially around Lagos and Ogun State corridors), how does the location of Patmos Gardens (Mowe-0fada, Ibafo) position buyers for future growth compared to Moriah Mews in lbeju-Lekki?

Both locations serve different investment strategies, and that’s intentional.

Ibeju-Lekki is already in a high-entry, high-demand phase driven by major industrial and commercial projects.

Patmos Gardens, located around the Mowe–Ofada–Ibafo corridor, represents early-to-mid growth positioning. This axis benefits directly from Lagos–Ibadan expressway connectivity, population spillover from Lagos, and increasing residential demand from working professionals.

For buyers, Patmos Gardens offers strong appreciation potential at a more accessible entry point, while Moriah Mews caters to premium coastal growth. It’s about timing, budget, and long-term vision.

As many investors now expect clear governance, transparent payment plans, and professional processes from developers in Nigeria’s competitive market, what specific buyer-friendly measures will Blaqcrest Homes showcase at the Patmos Gardens allocation to build trust and confidence?

Trust is built through systems, not promises. At the Patmos Gardens allocation, we’ll be showcasing: Clearly documented plot demarcations and allocation layouts; Transparent payment histories for every allocated plot; Structured processes — no informal arrangements; and Direct access to our legal and client service teams.

We’ve learned that today’s buyers want clarity, professionalism, and governance — and we’ve built our processes around those expectations.

With affordable land and suburban estates gaining attention as alternatives to expensive city centers, how is Blaqcrest Homes communicating the investment benefits of Patmos Gardens and Patmos Prime for young investors or middle-income buyers looking for long-term value?

We speak to young and middle-income investors with honesty and data. Patmos Gardens and Patmos Prime are positioned as long-term wealth assets, not speculative hype.

We emphasize affordability, flexible payment structures, future infrastructure growth, and land scarcity dynamics. Most importantly, we educate buyers on holding power — how land appreciates when bought early, secured properly, and held patiently.

Our communication is simple: you don’t need to wait until land becomes expensive to start building wealth.

Given that infrastructure deficits and bureaucratic bottlenecks remain key challenges in land development. What updates can Blaqcrest Homes provide on planned access roads, utilities, or government engagement that support the development and livability of Patmos Gardens?

Infrastructure is one of the biggest value drivers, and we take it seriously. For Patmos Gardens, we are actively working on access road development, internal layout planning, and utility readiness in phases.

Documentation is still a big issue for property ownership in Nigeria especially land title; what are your thoughts on the solution?

Documentation remains one of the biggest bottlenecks in Nigeria’s real estate sector because the system is complex, slow, and poorly understood by the average investor.

The real solution is simplification, transparency, and education.

First, government must digitize and centralize land registries, so titles can be verified quickly and securely. When records are online, forgery reduces, transactions become faster, and investor confidence increases.

Second, the process of obtaining land titles such as C of O, Governor’s Consent, Deed of Assignment, and Registered Survey must be simplified, with clear timelines and standardized fees to reduce corruption and delays.

Finally, investors and buyers must be properly informed. Many people lose money simply because they don’t understand the documentation process. Real estate developers, brokers, and the government must invest in public awareness and education.

When documentation becomes clear, digital, and accessible, trust in the property market will rise, and investment will grow.

Affordable home ownership in Nigeria will only become a reality when housing is treated as essential infrastructure, not a luxury.

Government can achieve this through three major strategies: Mass Housing Schemes

Government should partner with private developers to build medium and low-cost housing estates across major cities and emerging towns, using cost-efficient construction methods and local materials.

How can governments make affordable home ownership in Nigeria a reality for low-income groups?

Affordable home ownership in Nigeria will only become a reality when housing is treated as essential infrastructure, not a luxury. Government can achieve this through three major strategies.

First is mass housing schemes. Government should partner with private developers to build medium and low-cost housing estates across major cities and emerging towns. This must involve using cost-efficient construction methods and locally sourced materials to keep prices down.

Next is accessible mortgage systems. Long-term, low-interest mortgage plans must be made available to low-income earners. We need a system that offers lower interest rates, longer repayment periods, and flexible qualification requirements so that the average earner can actually qualify.

Thirdly, government should strengthen the National Housing (NHF). Many Nigerians don’t even know they can access the NHF. The process should be simplified, digitized, and made transparent so that workers can actually benefit from the fund they contribute to.

When housing finance becomes easy, affordable, and trusted, more Nigerians will be able to move from renting to owning.

Where do you see real estate sector performance this year?

From my perspective as the MD of Blaqcrest Homes, I see the real estate sector in Nigeria continuing to grow steadily this year, even in the face of economic pressures.

The demand for housing is still far higher than supply, and real estate already contributes over 5% to Nigeria’s GDP. This tells us that the sector remains one of the strongest drivers of the economy.

At Blaqcrest Homes, we are seeing increasing interest from both home buyers and investors who are looking for secure, well-documented properties. With improved infrastructure, urban expansion, and growing awareness around real estate investment, I believe the sector will remain resilient and full of opportunity this year.