Lagos tackling 3.3m housing deficit, says Sanwo-Olu

The Lagos State Government has said it is tackling the state’s 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, organised by ThinkMint Nigeria, held 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 adopting measures to expand housing supply and improve access to affordable homes.

Sanwo-Olu said, “Lagos faces a 3.3 million unit housing deficit driven by a rapidly growing population of over 17.8 million people.”

He added, “Under the THEMES+ Development Agenda, the state has improved planning certainty through digital permit processing and updated master plans while delivering thousands of new housing units.”

Sanwo-Olu said financial support, mortgage and rent-to-own schemes, and public-private partnerships had been instrumental in expanding housing supply and creating jobs.

He said the state had delivered more than 10,600 homes since 2019, while investments in transportation infrastructure, including rail networks and strategic transit corridors, were expected to support real estate development and economic growth.

He also highlighted efforts to protect investors and property owners through stronger market regulation, including the Lagos State Real Estate Regulatory Authority’s crackdown on fraudulent practitioners and proposed tenancy reforms.

He said, “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.

“To protect investors and residents alike, the administration emphasised strengthened market regulation through LASRERA’s crackdown on fraudulent practitioners alongside upcoming tenancy reforms.”

Speaking at the conference, the Special Adviser to the Governor on e-GIS and Urban Development, Olajide Babatunde, said Lagos faced an estimated annual population influx of about 600,000 people.

Babatunde said the Lagos Enterprise Geographic Information Service had digitised more than 70 per cent of land records, reducing property search times from weeks to minutes.

He said the initiative had improved coordination among regulatory agencies, making land transactions more efficient and development approvals more predictable.

Babatunde said, “Real estate forms the bedrock of the Lagos economy, addressing the state’s two million-unit housing deficit and annual influx of 600,000 residents.

“The transformative impact of the Lagos Enterprise Geographic Information Service, which has digitised more than 70 per cent of land records, has reduced search times from weeks to minutes, and unified key regulatory bodies to make land assets bankable and approvals predictable.”

In a goodwill message, the Deputy Governor, Dr Obafemi Hamzat, represented by the Permanent Secretary, Ministry of Housing, Abdulhafis Toriola, described real estate as a critical driver of sustainable economic development.

“Real estate is not viewed merely as brick and mortar, but as a critical lever for sustainable economic development,” Hamzat said.

He added that Lagos’s ambition to become a modern, inclusive and globally competitive megacity depended on a vibrant, transparent and resilient property market.

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Hamzat identified integrated infrastructure and smart corridors, regulatory efficiency and transparency, and public-private collaboration as essential to unlocking the sector’s potential.

Also speaking, the former President of the International Real Estate Federation, Africa Region, Chudi Ubosi, said Nigeria’s housing deficit presented opportunities 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.

The Minister of Housing and Urban Development, Muttaqha Darma, represented by the Head of the Federal Lands Unit, Lagos Field Headquarters, Abiodun Oloko, called for stronger public-private partnerships to address the country’s housing challenges.

The minister identified affordable housing, access to finance, responsible investment, transparent land administration and cost-effective construction technologies as priorities for the sector.

The Minister of Aviation and Aerospace Development, Festus Keyamo, represented by an official of the Federal Airports Authority of Nigeria, Yusuf Yakubu, highlighted the role of airport infrastructure in attracting investment and supporting commercial activities.

He called for real estate developments around airports to be guided by market demand, appropriate locations and supporting infrastructure.

Speaking, the Deputy Governorship Candidate of the All Progressives Congress in Lagos State, Damilola James, called for stronger collaboration between the government and private sector to address housing challenges.

She said the government would provide the necessary policies and enforcement mechanisms, while private investors were expected to contribute innovation and resources to scale up housing delivery.

In his intervention, the Managing Director and Chief Executive Officer of the Lagos State Development and Property Corporation, Ayodeji Joseph, represented by its Executive Director, Adeniyi Aromolaran, highlighted the importance of integrated infrastructure, smart corridors and regulatory transparency to real estate development.

The Chairman of Onigbongbo Local Council Development Area, Moyosore Adebanjo, commended the organisers, noting the relationship between real estate development and infrastructure provision.

The founder and Chief Executive Officer of ThinkMint Nigeria and convener of REDA, Imelda Olaoye, said the conference was designed to promote dialogue between government officials and private-sector stakeholders.

She called for practical frameworks to translate policies into action, attract investment, improve access to housing and promote transparency in the real estate sector.

The two-day conference, organised by ThinkMint Nigeria, brought together policymakers, developers, investors and other stakeholders to discuss the relationship between real estate and economic development.

The event featured discussions on energy supply, property financing, asset monetisation, transparency, technology and sustainable real estate development.

It also featured the REDA Awards, which recognised individuals and organisations for their contributions to Nigeria’s real estate industry.

At the REDA Awards, Abdul Mutallab Mukhtar, Azubike Emodi, Temidayo Oloyede, Odunayo Ojo, Ufuoma Ilesanmi and Kennedy Okonkwo were among the individuals recognised.

Among the corporate recipients, Urban Shelter won Property Development Company of the Year (Residential), while Eko Atlantic received Property Development Company of the Year (Commercial).

Purple Group won Real Estate Company of the Year (Retail), 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).