Lagos tackles housing deficit with nearly 10,000 homes delivered in six years 

The Lagos State Government has reaffirmed its commitment to bridging the housing gap for low- and middle-income earners through a multifaceted strategy, which has yielded nearly 10,000 housing units in the last six years.

The State Commissioner for Housing, Moruf Akinderu-Fatai, made this known on Tuesday during a ministerial press briefing held in Alausa, Ikeja.

He said the Sanwo-Olu-led administration had adopted a broad-based approach that combines direct government investment with private sector collaboration to address the challenges posed by rapid urbanisation, surging construction costs, limited infrastructure, and insufficient access to financing.

According to the Commissioner, “Mortgage interest rates from private developers can be as high as 20–25%, making it extremely difficult for low-income earners in Nigeria to buy homes. We are working with the private sector to create more affordable financing solutions.”

He stressed that the housing situation in Lagos is compounded by a steady influx of low-income migrants into the state, coupled with a growing population and limited land area.

“With an annual growth rate of 3.34% and one-third of our 3,577km² landmass being water, providing decent and affordable housing has become even more challenging,” he said.

Akinderu-Fatai outlined the government’s comprehensive Housing Delivery Strategy driven by the THEMES+ agenda, which incorporates economic, social, technical, and institutional innovations to target the needs of low-income residents.

Under this approach, the state government has directly delivered 3,994 housing units through budgetary allocations while facilitating an additional 5,976 units via Public-Private Partnerships (PPP), bringing the total number of new homes delivered to 9,970 since 2019.

“The administration in June 2024 delivered and commissioned the Egan-Igando Mixed Housing Estate (Cluster 1), comprising 270 two-bedroom apartments. This brings to 21 the number of housing estates completed across the five administrative divisions of the state,” he noted.

To enhance the enabling environment for real estate developers, Akinderu-Fatai said the government had streamlined approval processes, introduced tax incentives, and embraced innovative financing models, adding that these efforts are designed to attract investment in affordable housing projects and expand access to quality homes.

He added that key state agencies, including the Lagos State Real Estate Regulatory Authority (LASRERA), Lagos State Development and Property Corporation (LSDPC), and Lagos State Mortgage Board (LMB), are playing pivotal roles in actualising the administration’s housing vision.

“This strategy has consistently improved housing affordability, enhanced the quality of life for many residents, created jobs, and revitalised the economy,” Akinderu-Fatai said.

He reiterated the government’s resolve to continue pursuing inclusive housing policies to accommodate the needs of the expanding population and reduce homelessness in the state.