Monday, November 3, 2025 - A recent report by Oikus, auditing over 100,000 property listings across the country, has uncovered 59,000 duplicates, revealing major data integrity gaps in Nigeria’s real estate market.
According to the report, close to 60 per cent (59,119 out of
100,000) of listings analysed were duplicates.
It stated, “To ensure objectivity and reproducibility, Oikus
applied a duplicate detection model focused primarily on image similarity and
metadata alignment.
“Nearly 60 per cent (59,119 out of 100,000) of listings
analysed were duplicates, often caused by agents reposting the same property
across multiple platforms or repeatedly to maintain visibility.
“Over 9,000 listings lacked agent identity, making
verification or user follow-up nearly impossible. Extreme price outliers (N1bn)
and listings with 20 bedrooms suggest either incorrect data input or deliberate
inflation to attract attention. These findings underscore the urgent need for
data verification and agent accountability in Africa’s property listing
ecosystem.
“As part of our ongoing commitment to improving transparency
in Africa’s digital real estate market, Oikus conducted a comprehensive data
audit covering over 100,000 property listings across multiple platforms and
agents.”
The report further noted that the objective was simple, to
assess the integrity of property data and uncover patterns of duplication,
missing details, and unreliable entries that distort market insights and user
trust.
“The findings show the extent of data duplication and
opacity in the digital property space. Oikus’ analysis provides a foundational
lens for journalists, investors, and policymakers to understand why Nigeria and
Africa’s property markets need verified, AI-driven listing systems, and how
Oikus is leading that shift,” it added.
Earlier, the African Real Estate Society warned that
inadequate and fragmented data remained a major obstacle to housing finance,
investor confidence, and sustainable growth in Nigeria’s real estate sector.
The President of the International Real Estate Society,
Omokolade Akinsomi, sounded this warning at the African Real Estate Society’s
24th Annual Conference, which was held in Lagos recently.
According to him, at the heart of Nigeria’s housing
conversation lies the issue of data, or the lack of it.
He said, “For years, the country has faced the figure of a
17 to 28 million housing deficit, first popularised under the tenure of former
Minister of Works and Housing, Babatunde Fashola. Yet stakeholders continue to
question the credibility of these numbers. As one speaker pointed out,
comparing a villager who is content in a modest detached house to someone
living in Banana Island is misleading. The real problem is not simply a
shortage of houses but the absence of context-driven, affordable housing data that
reflects the realities of Nigerians across income levels.
“This absence of reliable data creates significant
obstacles. Without it, funding becomes difficult, housing finance is
inaccessible, and the supply chain for materials is uncertain.
“In South Africa, for example, the financial system is
integrated, one ATM card can access multiple banks, and nearly everyone is
traceable through a unified database. This integration enables widespread
credit access. Nigeria, however, remains fragmented. Multiple ATM cards, poor
data traceability, and siloed systems make it difficult for individuals and
businesses to build credit history. Until these gaps are addressed, investors
will struggle to operate with confidence.”
In a similar vein, the Chief Executive Officer of Purple
Real Estate Income Plc, Olaide Agboola, noted that many people are unable to
purchase a home or property due to a lack of available data and lenders’
unwillingness to lend.
He said, “As a result, more data is needed to understand the
abundance of opportunities. Our industry also requires more policies to
increase investment. We can boost access to space for individuals and unlock
potential among underserved businesses through partnerships between the
government, local and international investors, and developers on policies that
improve the ease of doing business.”
Nigeria’s housing deficit is a long-standing challenge that
has worsened over the decades. From about seven million units in 1991, it grew
to 12 million in 2007, 14 million in 2010, and surged to an estimated 28
million in 2022, a figure that remains uncertain due to the country’s
persistent lack of reliable housing data.
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