The 2025 Legal Business Conference, held under the theme “Real Estate as a Catalyst for Economic Development,” featured a thought-provoking panel session on “Public-Private Partnership in Real Estate,” where legal and business experts dissected the crucial role of collaboration in transforming Nigeria’s property landscape. Bringing together some of the industry’s brightest minds, the session moderated by Prince Nwafuru (Managing Partner, The Law Suite) featured Tobenna Erojikwe (Partner, The Law Crest LLP), Peacemaker Afolabi (Managing Director, Brass & Castles), Oyinkansola Badejo-Okusanya, SAN (Partner, Africa Law Practice NG & Co.), and Kola Ogunsulire (Co-founder, Aksum Capital Limited, UK), who collectively examined how strategic partnerships between government and private investors can drive inclusive and sustainable growth in the real estate sector.
The discussion explored the intricate dynamics of public-private partnerships (PPP) in real estate, emphasizing the need for a sense of ownership, properly drafted agreements, and fair risk allocation. The panelists agreed that while PPPs present significant opportunities for infrastructure and housing development, they are often hindered by bureaucratic bottlenecks, high costs of funds, and a lack of trust between the government and private sector stakeholders. Tobenna Erojikwe highlighted that for PPPs to thrive, “contracts must not only be legally sound but also reflect equity and mutual responsibility.”
Peacemaker Afolabi underscored the importance of building sustainability and creating an enabling environment for investors, stressing that trust and transparency from the government are key factors. He noted that “foreign investors are often deterred by policy inconsistency and legal uncertainty,” calling for reforms that prioritize ease of doing business and dispute resolution mechanisms that foster confidence.
Adding a legal perspective, Oyinkansola Badejo-Okusanya, SAN, emphasized the government’s role in ensuring contracts are comprehensive and enforceable. She noted that many disputes in PPP arrangements arise from poorly drafted agreements and unclear allocation of risk. Similarly, Kola Ogunsulire pointed out that “legal risk remains one of the biggest deterrents for foreign investors,” urging stakeholders to establish frameworks that protect all parties involved and promote financial stability in the sector.
The session concluded with a collective call for synergy between the public and private sectors to drive real estate growth through transparent partnerships, innovative financing models, and consistent policy frameworks. As the discussants affirmed, sustainable development in real estate will only be achievable when trust, legal clarity, and shared ownership become the foundation of every public-private collaboration in Nigeria.
