Lagos State Governor Babajide Sanwo-Olu says his administration has delivered 10,623 housing units across 23 estates within the state’s 5 administrative divisions since 2019.
He disclosed this whereas delivering the keynote tackle on the seventh version of the Real Estate Discussions and Awards (REDA 2026), held at Radisson Blu Hotel, Ikeja GRA, Lagos.
The supply figures embrace 4,414 units funded via direct budgetary allocations and 6,209 delivered via Public-Private Partnerships (PPPs).
The governor reaffirmed his administration’s dedication to sustainable housing improvement, improved entry to homeownership and elevated personal sector funding, describing these as essential drivers of financial progress.
Lagos Delivers 10,623 Homes Across 23 Estates
Sanwo-Olu mentioned ongoing housing schemes and three way partnership initiatives have been anticipated to boost the entire variety of properties delivered or projected for completion to 14,022, because the state intensifies efforts to deal with its housing deficit.
- Speaking on the theme, “Economic Development and Real Estate Linkages: The Practicable Framework,” he recognized efficient land administration, accessible housing finance, strategic partnerships and credible regulation as important to unlocking the true property sector’s financial potential.
The governor highlighted a number of initiatives and outcomes linked to housing supply and entry to homeownership.
He mentioned the Lagos State Mortgage Board’s mortgage and rent-to-own schemes had supported greater than 20,000 residents over the previous 12 years.
A complete of 944 civil servants benefited from a 40% housing rebate designed to help homeownership.
Housing improvement generated 4,793 direct and oblique jobs within the previous 12 months, in keeping with the governor.
Sanwo-Olu mentioned these figures demonstrated the sector’s capability to stimulate employment, help construction-related companies and contribute to wider financial exercise.
He added that the federal government alone couldn’t resolve the state’s housing deficit, calling for stronger collaboration with property builders, monetary establishments and different personal sector stakeholders to extend housing provide.
Housing Projects Generate 4,793 Jobs
Sanwo-Olu mentioned sustainable housing improvement required greater than the development of residential units, stressing the significance of regulation, infrastructure and entry to finance in supporting the true property market.
On client safety, he disclosed that the Lagos State Real Estate 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 regulation and dealing with the Lagos State House of Assembly on a brand new tenancy regulation aimed toward addressing irregular lease will increase and unlawful fees.
- He emphasised that housing developments have to be supported by sufficient infrastructure and important providers.
- These embrace drainage, roads, utilities, waste administration and transportation, which he mentioned have been essential to creating sustainable communities.
- As his administration approaches the tip of its tenure, Sanwo-Olu mentioned its precedence remained finishing ongoing housing initiatives and strengthening institutional frameworks that may maintain improvement past the present administration.
He urged members at REDA 2026 to advance sensible suggestions on housing finance, public-private collaboration, infrastructure provision and market regulation. He additionally congratulated the recipients of the REDA Awards for his or her contributions to professionalism and innovation in the true property sector.
What it’s best to know
In June 2025, Nairametrics reported that Sanwo-Olu had introduced plans to finish greater than 14,000 housing units by 2026 as a part of a broader technique to deal with Lagos State’s housing deficit and broaden entry to reasonably priced properties for low- and middle-income residents.
At the time, the governor, represented by the Commissioner for Housing, Moruf Akinderu-Fatai, mentioned practically 10,000 housing units had been delivered over the previous six years, with efforts being intensified to extend housing provide across the state.
- “We have put in place a range of strategies to increase the supply of affordable housing, especially for low and middle-income residents,” Sanwo-Olu mentioned.
- “So far, these efforts have led to the delivery of nearly 10,000 housing units in the last six years, and we aim to complete over 14,000 more by 2026,” he added.
The governor mentioned the state had made particular funds allocations and created an enabling setting for personal sector funding via public-private partnerships.
The newest figures put the reported supply at 10,623 units across 23 estates, whereas ongoing schemes and three way partnership initiatives are anticipated to deliver the entire delivered or projected for completion to 14,022.
