Professor Franklin Nnaemeka Ngwu, Director of Public Sector Initiative and Professor of Strategic Management & Governance at Lagos Business School, has called for the development of new towns in Nigeria to manage population growth and drive socio-economic development.

Speaking at UPDC Plc’s 4th Annual Real Estate Summit in Ikoyi, Lagos, themed “New Towns and Their Impact on Economic Development”, Prof. Ngwu defined new towns as self-contained communities with housing, employment, industry, commerce, and leisure facilities, designed to relieve pressure on overcrowded cities.

He emphasised that:

• New towns should be well-connected to major cities through efficient transport networks.
• They should integrate real estate, education, finance, transport, shopping, and leisure for holistic urban planning.
• Governments play a key role in planning and implementing these projects.

Prof. Ngwu cited Milton Keynes in the U.K. as an example of a successful new town, contrasting it with the congestion seen in Abuja. He highlighted Nigeria’s projected urban population of 180 million by 2050, stressing the urgent need for strategic planning, adoption of new technologies, ESG practices, green living, and connectivity in developing new towns.

UPDC Plc CEO Odunayo Ojo added that the summit marks a critical moment for Nigeria’s real estate sector, emphasising that new towns can serve as engines of economic growth, social inclusion, and improved quality of life.