Sanwo-Olu flags rising Ikeja housing cost

File photo: Governor Babajide Sanwo-Olu of Lagos State

The Lagos State Governor, Babajide Sanwo-Olu, has stated that the average cost of land in Ikeja is slightly above N3m per square metre, making it difficult for low-income earners to live around that environment.

Sanwo-Olu stated this during his acceptance speech after his investiture as an Honorary Fellow of the Nigerian Institute of Town Planners at the 57th Annual Conference and Annual General Meeting held in Ikeja, according to a statement.

The governor, who was represented at the event by the Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, added that his administration had invested very aggressively in rail transportation so that people could live in Agbado and commute daily to the central area of Lagos.

“The average cost of land in Ikeja is slightly above N3m per square metre. So, it will be difficult for low-income earners to live around that environment. And in responding to the principles of planning, that’s why we have invested very aggressively in rail transportation, so that people can live in Agbado and commute daily to the central area of Lagos,” Sanwo-Olu said.

Sanwo-Olu stressed that his administration was building a state that must be able to serve many generations to come.

He highlighted that building such a state required foresight, discipline, and the courage to make planning decisions that might not always be convenient today but would prove necessary tomorrow.

“As our administration approaches the end of its tenure, I receive this fellowship as an affirmation of the work we have done, and a reminder of what we must still accomplish,” the governor said.

Sanwo-Olu emphasised that the government’s responsibility in the time remaining was to consolidate the progress made, strengthen the institutions that would sustain it, and ensure that the development of Lagos continued on a sound and orderly path long after they had left office.

He assured the leadership and members of the NITP that the state would continue to value their professional advice and partnership.

He remarked that his administration would need the expertise of the institute and must continue to work together to ensure that the cities grow in ways that improve the lives of all the people.

Sanwo-Olu further emphasised the critical role of town planners, noting that Lagos State faced the challenge of accommodating a growing population, expanding infrastructure, providing housing and safeguarding the environment within its limited land area of 3,577 square kilometres.

These challenges, he said, had shaped many of the decisions the administration took, “from our investments in rail transportation and road infrastructure to urban regeneration and improvement in physical planning.”

“Our objective has been to make Lagos a more organised, liveable, and prosperous city. We have just opened the Red Line train in the city. In Ikeja, workers are supposed to work there,” Sanwo-Olu stressed.