By Our Reporter
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Tuesday said that there is a need for Public-Private Partnership (PPP) to bridge the housing deficit in the state, expressing his administration's commitment to building an inclusive and sustainable housing sector for all residents.
Governor Sanwo-Olu gave this position, while speaking at the 6th Lagos Real Estate Marketplace Conference, themed: "Shaping the Future of Lagos Mega City: Infrastructure Investment, Innovation and Affordable Housing," and organised by the Lagos State Real Estate Regulatory Agency (LASRERA).
Available housing data shows and Lagos, Nigeria’s economy hub and most populous city in West Africa, with an estimated population of over 22 million people, is grappling with a housing deficit of over 3.4 million units.
To close this gap, the state is estimated to require roughly 227,000 new homes annually to keep up with population growth and replace dilapidated stock, but actual deliveries are far below this target.
Based on this, millions of residents live in slums in different parts of the state, a development the government is battling to address, with regular demolitions of what it termed "illegal developments."
Sanwo-Olu, while expressing his administration's commitment to building an inclusive and sustainable housing sector for all residents, however, noted that achieving this goal required the active participation of private developers, financial institutions and investors.
According to him, housing goes beyond buildings, but "about the kind of city we choose to become," saying that it speaks directly to human dignity, economic productivity and social stability.
"Housing is not just about buildings. It is about the kind of city we choose to become. In Lagos, affordability means homes people can actually live in, pay for and access close to where they work and raise families. This can only be achieved through partnerships, leveraging public-private partnerships, structured finance and demand-led planning," Sanwo-Olu said.
The governor said that the government’s role was to act as an enabler, regulator and partner, rather than the sole provider of housing, adding that no meaningful progress can be made without strong collaboration with the private sector.
"A true mega city is not defined by how tall it builds, but by how well it lives. That is the Lagos we are committed to building thoughtfully, inclusively and sustainably," he concluded.
The State Commissioner for Housing, Moruf Akinderu-Fatai, earlier in his remark, said Lagos had attracted global attention due to its development strategies, capital projects and housing initiatives aimed at positioning the state as Africa’s model megacity.
Akinderu-Fatai said that regulatory agencies, including LASRERA played a key role in ensuring that innovation in the housing and construction sector does not compromise public safety, integrity or compliance.
"Lagos is an integrated model of urban development where infrastructure investment, spatial planning, regulation and social planning work together. We have moved from vision to implementation, from plans to performance," the commissioner said.
Also speaking, the Special Adviser (SA) to the Governor on Housing, Barakat Odunuga-Bakare, said the conference was a strategic platform for government and private sector stakeholders to address challenges facing the housing sector in a rapidly growing megacity like Lagos.
She said partnerships with countries such as Saudi Arabia, the United States, the United Arab Emirates, Canada and other African nations reflected the state government’s readiness to strengthen its real estate infrastructure and adopt global best practices.
She also disclosed that the state government was reviewing a new tenancy bill at the Lagos State House of Assembly, aimed at streamlining the roles of real estate practitioners and providing clearer guidelines for property transactions.
The conference attracted local and international stakeholders, who explored innovative financing, infrastructure investment and collaborative solutions to address the state’s increasing housing needs.
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