The Lagos State Government says it is addressing an estimated 3.3 million-unit housing deficit through increased housing delivery, digital planning approvals, rent-to-own schemes and public-private partnerships.
Governor Babajide Sanwo-Olu disclosed this at the seventh edition of the Real Estate Discussions and Awards (REDA), organised by ThinkMint Nigeria in Ikeja, Lagos, on Tuesday and Wednesday.
According to a statement made available to The PUNCH on Wednesday, the governor, represented by the Commissioner for Housing, Moruf Akinderu-Fatai, said the state was implementing measures to expand housing supply and improve access to affordable homes.
Sanwo-Olu attributed the housing deficit to Lagos’s rapidly growing population, which he put at more than 17.8 million people.
“Lagos faces a 3.3 million unit housing deficit driven by a rapidly growing population of over 17.8 million people,” he said.
He added that the state had improved planning certainty through digital permit processing and updated master plans under its THEMES+ Development Agenda.
Lagos Says It Has Delivered 10,600 Homes Since 2019
Sanwo-Olu said the state had delivered more than 10,600 homes since 2019, supported by financial assistance, mortgage and rent-to-own schemes, and partnerships with private developers.
He also highlighted investments in transportation infrastructure, including rail networks and strategic transit corridors, which he said would support property development and economic growth.
The governor said the administration was strengthening property market regulation to protect investors and residents.
He cited the Lagos State Real Estate Regulatory Authority’s (LASRERA) efforts to tackle fraudulent practitioners and pointed to proposed tenancy reforms as part of broader measures to improve the sector.
“Through digital planning approvals, public-private partnerships, and financing schemes like rent-to-own, the state has delivered over 10,600 homes since 2019 while advancing key transit corridors such as the rail network to boost real estate and economic development,” he said.
Lagos Digitises More Than 70% Of Land Records
The Special Adviser to the Governor on e-GIS and Urban Development, Olajide Babatunde, said Lagos receives an estimated 600,000 additional residents annually, increasing demand for housing and infrastructure.
He disclosed that the Lagos Enterprise Geographic Information Service had digitised more than 70 per cent of land records, reducing property search times from weeks to minutes.
According to Babatunde, the initiative has improved coordination among regulatory agencies, making land transactions more efficient and development approvals more predictable.
He said the digital reforms were helping to make land assets more accessible to investors and improve transparency in property transactions.
Hamzat Calls For Stronger Real Estate Partnerships
In a goodwill message, Deputy Governor Obafemi Hamzat, represented by the Permanent Secretary of the Ministry of Housing, Abdulhafis Toriola, described real estate as a critical driver of sustainable economic development.
Hamzat said Lagos’s ambition to become a modern, inclusive and globally competitive megacity depended on a vibrant, transparent and resilient property market.
He identified integrated infrastructure, smart corridors, regulatory efficiency and public-private collaboration as essential to unlocking the sector’s potential.
Former President of the International Real Estate Federation, Africa Region, Chudi Ubosi, also described Nigeria’s housing deficit as an opportunity for investment, employment generation and economic growth.
“The housing deficit represents not only a challenge but also an opportunity for investment, employment and economic growth,” Ubosi said.
FG Seeks More Investment In Affordable Housing
The Minister of Housing and Urban Development, Muttaqha Darma, represented by the Head of the Federal Lands Unit at the Lagos Field Headquarters, Abiodun Oloko, called for stronger public-private partnerships to address Nigeria’s housing challenges.
He identified affordable housing, access to finance, responsible investment, transparent land administration and cost-effective construction technologies as priorities for the sector.
Meanwhile, the Minister of Aviation and Aerospace Development, Festus Keyamo, represented by Yusuf Yakubu of the Federal Airports Authority of Nigeria, highlighted the role of airport infrastructure in attracting investment and supporting commercial activities.
He called for real estate developments around airports to reflect market demand, appropriate locations and the availability of supporting infrastructure.
The Deputy Governorship Candidate of the All Progressives Congress in Lagos State, Damilola James, also advocated stronger cooperation between government and private investors.
She said the government should provide effective policies and enforcement mechanisms, while private investors contribute innovation and resources to expand housing delivery.
LS DPC Highlights Infrastructure And Transparency
The Managing Director and Chief Executive Officer of the Lagos State Development and Property Corporation, Ayodeji Joseph, represented by Executive Director Adeniyi Aromolaran, emphasised the importance of integrated infrastructure, smart corridors and regulatory transparency.
The Chairman of Onigbongbo Local Council Development Area, Moyosore Adebanjo, also commended the event’s organisers, noting the close relationship between real estate development and infrastructure provision.
ThinkMint Nigeria’s founder and REDA convener, Imelda Olaoye, said the conference was designed to promote dialogue between government officials and private-sector stakeholders.
She called for practical frameworks to translate policy commitments into action, attract investment, improve housing access and promote transparency in the property market.
REDA Recognises Real Estate Industry Leaders
The two-day conference brought together policymakers, developers, investors and other stakeholders to discuss the relationship between real estate and economic development.
Discussions covered energy supply, property financing, asset monetisation, transparency, technology and sustainable real estate development.
The event also featured the REDA Awards, which recognised individuals and organisations for their contributions to Nigeria’s real estate industry.
Among the individuals recognised were Abdul Mutallab Mukhtar, Azubike Emodi, Temidayo Oloyede, Odunayo Ojo, Ufuoma Ilesanmi and Kennedy Okonkwo.
Corporate award recipients included Urban Shelter, which won Property Development Company of the Year (Residential), and Eko Atlantic, named Property Development Company of the Year (Commercial).
Purple Group won Real Estate Company of the Year (Retail), while Zylus received Real Estate Company of the Year (Site and Service).
Alpha Mead won Facility Management Company of the Year, Good Tenants received PropTech Company of the Year, and Flinx Realty won Real Estate Company of the Year (Top Emerging Series).
The discussions highlighted the need for continued investment, improved regulation and stronger public-private partnerships to expand housing supply and support sustainable real estate development in Lagos.
