Something big is about to hit Lagos: Sanwo-Olu reveals the big plan

Lagos State Governor, Babajide Sanwo-Olu, has called for greater synergy between the public and private sectors to strengthen Nigeria’s real estate industry and enhance urban development outcomes.

Speaking during a courtesy visit by the leadership of the International Real Estate Federation (FIABCI) – Nigerian Chapter – Governor Sanwo-Olu emphasised the crucial role of private investors in shaping the future of the sector.

The delegation was led by Mr. Adeniji Adele, President of FIABCI Africa and Near East Region.

According to the Governor, while the government will continue to provide policy direction and regulatory frameworks, it is ultimately the private sector that must drive innovation and capital investments in real estate.

“It is not only the government that can do it,” Sanwo-Olu said. “The private sector must take the lead. We will provide the necessary policy framework, but investors must continue to organise themselves and drive sustainable development.”

The Governor noted that Lagos remains committed to addressing urban planning challenges, especially building collapse, through ongoing reforms in physical planning and urban development regulations.

He also highlighted Lagos’ status as a technology-driven city, referencing a recent global report that named Lagos as the fastest-growing hub for technological innovation in Africa.

Looking ahead to the upcoming 75th FIABCI World Real Estate Congress, scheduled to be held in Lagos from July 9 to 13, Sanwo-Olu assured organisers of the State Government’s full support.

He said the congress would serve as a platform to foster deeper collaboration among real estate stakeholders, both locally and internationally, and allow for the cross-pollination of ideas between investors, regulators and urban development experts.

Earlier in his remarks, Mr. Adeniji Adele described the upcoming congress as a historic milestone, noting it will be the first time the event is hosted in Sub-Saharan Africa.

“The choice of Lagos was deliberate,” Adele said. “Lagos is the heartbeat of African urban transformation – a city defined by resilience, innovation, real estate expansion, and progressive policy reform. These qualities align perfectly with the congress theme, ‘Global Real Estate Renaissance.’”

According to Adele, the congress will attract over 400 high-level participants from more than 40 countries, including government officials, global developers, urban planners, real estate investors and thought leaders.

Discussions will focus on emerging trends such as proptech (property technology), which is redefining how real estate is built, managed and financed.

“Lagos, with its vibrant tech ecosystem, is uniquely positioned to lead this critical conversation across the continent,” Adele added.