Lagos State Governor Babajide Sanwo-Olu says his management has delivered 10,623 housing gadgets throughout 23 estates within the state’s 5 administrative divisions since 2019.
He disclosed this whilst handing over the keynote deal with on the 7th version of the Actual Property Discussions and Awards (REDA 2026), held at Radisson Blu Resort, Ikeja GRA, Lagos.
The supply figures come with 4,414 gadgets funded via direct budgetary allocations and six,209 delivered via Public-Non-public Partnerships (PPPs).
The governor reaffirmed his management’s dedication to sustainable housing building, stepped forward get entry to to homeownership and higher inner most sector funding, describing those as necessary drivers of monetary expansion.
Lagos Delivers 10,623 Houses Throughout 23 Estates
Sanwo-Olu mentioned ongoing housing schemes and three way partnership tasks had been anticipated to boost the entire choice of properties delivered or projected for crowning glory to fourteen,022, because the state intensifies efforts to deal with its housing deficit.
- Talking at the theme, “Financial Building and Actual Property Linkages: The Practicable Framework,” he recognized efficient land management, available housing finance, strategic partnerships and credible legislation as very important to unlocking the true property sector’s financial attainable.
The governor highlighted a number of tasks and results connected to housing supply and get entry to to homeownership.
He mentioned the Lagos State Loan Board’s loan and rent-to-own schemes had supported greater than 20,000 citizens during the last 12 years.
A complete of 944 civil servants benefited from a 40% housing rebate designed to toughen homeownership.
Housing building generated 4,793 direct and oblique jobs within the previous yr, in keeping with the governor.
Sanwo-Olu mentioned those figures demonstrated the field’s capability to stimulate employment, toughen construction-related companies and give a contribution to wider financial task.
He added that the federal government by myself may just now not get to the bottom of the state’s housing deficit, calling for more potent collaboration with assets builders, monetary establishments and different inner most sector stakeholders to extend housing provide.
Housing Tasks Generate 4,793 Jobs
Sanwo-Olu mentioned sustainable housing building required greater than the development of residential gadgets, stressing the significance of legislation, infrastructure and get entry to to finance in supporting the true property marketplace.
On shopper coverage, he disclosed that the Lagos State Actual Property Regulatory Authority (LASRERA) had recovered greater than N270 million from fraudulent property brokers.
The governor additionally reiterated the federal government’s dedication to strengthening actual property legislation and dealing with the Lagos State Space of Meeting on a brand new tenancy legislation aimed toward addressing odd hire will increase and unlawful fees.
- He emphasized that housing trends should be supported through ok infrastructure and very important products and services.
- Those come with drainage, roads, utilities, waste control and transportation, which he mentioned had been necessary to making sustainable communities.
- As his management approaches the top of its tenure, Sanwo-Olu mentioned its precedence remained finishing ongoing housing tasks and strengthening institutional frameworks that will maintain building past the present management.
He suggested contributors at REDA 2026 to advance sensible tips about housing finance, public-private collaboration, infrastructure provision and marketplace legislation. He additionally congratulated the recipients of the REDA Awards for his or her contributions to professionalism and innovation in the true property sector.
What you will have to know
In June 2025, Nairametrics reported that Sanwo-Olu had introduced plans to finish greater than 14,000 housing gadgets through 2026 as a part of a broader option to deal with Lagos State’s housing deficit and amplify get entry to to reasonably priced properties for low- and middle-income citizens.
On the time, the governor, represented through the Commissioner for Housing, Moruf Akinderu-Fatai, mentioned just about 10,000 housing gadgets were delivered over the previous six years, with efforts being intensified to extend housing provide around the state.
- “We’ve got installed position a spread of methods to extend the provision of reasonably priced housing, particularly for low and middle-income citizens,” Sanwo-Olu mentioned.
- “Up to now, those efforts have ended in the supply of just about 10,000 housing gadgets within the final six years, and we intention to finish over 14,000 extra through 2026,” he added.
The governor mentioned the state had made particular price range allocations and created an enabling atmosphere for personal sector funding via public-private partnerships.
The newest figures put the reported supply at 10,623 gadgets throughout 23 estates, whilst ongoing schemes and three way partnership tasks are anticipated to deliver the entire delivered or projected for crowning glory to fourteen,022.