Analysts are warning of an imminent correction in Nigeria’s real estate market as soaring construction costs and unsustainable rent hikes create a bubble. According to Bismarck Rewane of Financial Derivatives Company, the sector faces an oversupply of properties alongside record-high costs—with cement prices doubling and rent-to-income ratios reaching 70 percent, far above international standards. The resulting mortgage defaults and affordability crisis are driving developers to halt projects, signalling a potential market collapse.