The Lagos State Government has increased the state’s housing stock by delivering an impressive 9,970 home units in the last six years, the Commissioner for Housing, Moruf Akinderu-Fatai, has said.
Speaking at a ministerial press briefing to commemorate the second year in office of Governor Babajide Olusola Sanwo-Olu’s second term, Akinderu-Fatai highlighted the administration’s commitment to tackling the state’s housing deficit amidst global and local challenges.
The commissioner acknowledged the pressing global affordable housing crisis, exacerbated by rapid urbanisation, a trend particularly evident in Lagos, one of the world’s most populous cities with over 23 million residents.
He noted that Nigeria faces a massive housing deficit estimated at over 22 million units, a situation compounded by rural-urban migration and infrastructure limitations.
“Despite these challenges, the Sanwo-Olu administration has adopted a multi-pronged approach to boost housing delivery. This includes direct budgetary allocations for construction projects targeting low-income earners and fostering Public-Private Partnerships (PPPs) by offering incentives and streamlining approval processes for real estate developers.
“The impact of the economic shock waves across the world is affecting the low and medium-income earners and rendering many homeless as a result of the huge surge in construction costs, materials, as well as a hike in housing rentals,” Akinderu-Fatai said. He emphasized that the government recognizes housing as a crucial pillar of economic development.
Highlighting the ministry’s achievements, the Commissioner said “9,970 new home units delivered through direct government funding and PPP initiatives over the past six years.
“Inaugurating of 21 housing estates across Lagos State’s five administrative divisions since 2019.
“Ongoing construction of 4,052 additional units in five housing schemes, expected to be completed by the first quarter of 2026, bringing the total delivery to 14,022 units.
“The Lagos State Development and Property Corporation (LSDPC) completing 12 housing projects (710 homes) with 25 ongoing projects expected to add another 2,415 units.
“The Lagos State Mortgage Board (LMB) assisting over 20,000 residents with mortgage and Rent-To-Own policies, resulting in 312 individuals achieving full homeownership. A new policy allows Rent-To-Own participants with six years of payments to take full ownership under specific conditions.
“The Lagos State Real Estate Regulatory Authority (LASRERA) registering 925 practitioners, successfully mediating 1,243 of 1,580 disputes, and recovering over N295 million and 20 properties.
“Creation of approximately 13,749 direct and indirect jobs within the housing sector in the last six years.
“Retraining of over 500 artisans to enhance construction quality.
“Implementation of estate sustainability and facility management strategies, generating an additional 900 direct and indirect jobs.
“Digitalization of work processes in key departments to improve efficiency. “A rebate program enabling 770 civil servants to access homeownership, with 120 units allocated to teachers and health personnel in remote areas,” he stated
Looking ahead, the Commissioner announced plans to release over 1,600 more homes as ongoing projects reach completion. He also highlighted the government’s commitment to exploring a monthly rental scheme to ease the burden of yearly rent payments for low-income earners and to promote transparency in home allocation through balloting.
Akinderu-Fatai acknowledged the challenges faced by the ministry, including land encroachment, litigations, and inflationary trends, and outlined strategic initiatives being deployed to address these issues, such as revitalized joint venture partnerships and a focus on research and innovation in building materials and technology.
He expressed gratitude to Governor Sanwo-Olu for his unwavering support and to various stakeholders and agencies for their collaborative efforts in achieving significant strides in the Lagos State housing sector.
Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, while responding to questions regarding the escalating cost of renting accommodation in the state, clarified that existing regulations stipulate that agents should not charge more than 10 percent as agency fees, in addition to legal fees.
However, she acknowledged a critical loophole in the current tenancy law.
“The present tenancy law does not explicitly state the maximum amount agents can charge, creating an ambiguity that many agents are exploiting by imposing exorbitant fees,” Odunuga-Bakare explained.
