The Lagos State Commissioner for Housing, Moruf Akinderu‑Fatai, has identified rapid urbanisation as the key driver behind the soaring demand for housing and urban infrastructure in the state.
He quoted United Nations projections estimating that by 2050, around 68 percent of the global population will live in cities—an indicator of the intensified pressure cities like Lagos face.
Akinderu‑Fatai noted that hundreds of thousands of people are moving from rural areas into Lagos each year, significantly outpacing the development of adequate housing and services. With a population now estimated between 20 and 23 million, Lagos contributes heavily to Nigeria’s nationwide housing deficit of over 22 million units a problem worsened by rapid population growth, rural‑urban migration, and rising construction costs .
He warned that continued urban expansion without proportional investment in affordable housing would exacerbate the proliferation of slums and informal settlements. While luxury developments in Lagos and Abuja are growing, the supply of affordable, low‑income housing is falling far short.
Akinderu‑Fatai also addressed financing challenges underpinning the crisis. Current mortgage interest rates ranging from 20 to 25 percent remain inaccessible for low‑income households. As a result, Lagos State has intensified efforts to partner with private investors and the Federal Mortgage Bank, pursue public‑private partnerships, and offer tax incentives to promote low‑cost housing schemes
These efforts, he said, are part of the Sanwo‑Olu administration’s THEMES+ strategic agenda. They include increasing the housing stock for low-income earners through budgetary allocations, streamlined approvals, innovative financing, and supportive policies. The state’s 2025 budget reflects a renewed commitment, with ₦101.6 billion earmarked a nearly 82% increase for housing and community amenities
Akinderu‑Fatai concluded by stressing the broader benefits of affordable housing: stimulating economic growth, creating jobs, improving living conditions, and making Lagos more inclusive. He urged stakeholders to sustain long‑term collaboration to turn rising urbanisation into opportunities rather than crises.
