Lagos State Governor, Babajide Sanwo-Olu, has restated his administration’s commitment to sustainable housing development, improved access to homeownership and increased private sector investment as key drivers of economic growth.
The Governor, in an address read on his behalf by Moruf Akinderu-Fatai, the Commissioner for Housing in Lagos State, stated this while delivering the keynote address at the seventh edition of the Real Estate Discussions and Awards (REDA 2026), held at Ikeja.
Sanwo-Olu said his administration had delivered 10,623 housing units across 23 estates in the five administrative divisions of Lagos State since 2019, comprising 4,414 units through direct budgetary allocation and 6,209 through Public-Private Partnerships (PPPs).
He said ongoing housing schemes and joint venture projects were expected to increase the total number of homes delivered or projected for completion to 14,022, reinforcing the government’s determination to bridge the state’s housing deficit.
Addressing the theme, “Economic Development and Real Estate Linkages: The Practicable Framework,” the Governor identified effective land administration, accessible housing finance, strategic partnerships and credible regulation as essential to unlocking the real estate sector’s economic potential.
“Investors commit capital when they know who owns the land, what may be built on it, and how long approval will take. We are building that certainty,” he said, highlighting the Electronic Physical Planning Permit Processing System and completed model city plans for Lagos Island, Ibeju-Lekki and Badagry as initiatives to improve planning efficiency and investor confidence.
The Governor also highlighted the contributions of the Lagos State Mortgage Board’s mortgage and rent-to-own schemes, which have supported more than 20,000 residents over the past 12 years. He noted that 944 civil servants had benefited from a 40 per cent housing rebate to facilitate homeownership.
According to him, housing development generated 4,793 direct and indirect jobs in the preceding year, demonstrating the sector’s capacity to stimulate employment, construction-related businesses and wider economic activities.
Sanwo-Olu stressed that the government alone could not address the housing deficit, calling for stronger collaboration with developers, financial institutions and other private sector stakeholders.
“Government cannot close a deficit of this size alone, and it does not intend to,” he stated, assuring investors of the government’s commitment to transparent arrangements, clear responsibilities and partnerships that serve the public interest.
On consumer protection, the Governor disclosed that the Lagos State Real Estate Regulatory Authority (LASRERA) had recovered more than ₦270 million from fraudulent estate agents. He reiterated the government’s commitment to strengthening regulation and working with the Lagos State House of Assembly on a new tenancy law to address abnormal rent increases and illegal charges.
He further emphasised the importance of integrating housing developments with adequate drainage, roads, utilities, waste management and transportation infrastructure to ensure sustainable communities.
As his administration approaches the end of its tenure, Sanwo-Olu said the priority remained completing ongoing housing projects and strengthening institutional frameworks that would sustain development beyond the current administration.
He urged participants at REDA 2026 to advance practical recommendations on housing finance, public-private collaboration, infrastructure provision and market regulation, while congratulating recipients of the REDA Awards for their contributions to professionalism and innovation in the real estate sector.
The Governor commended Thinkmint Nigeria, in collaboration with Thinkmint Europe, and its Founder and Chief Executive Officer, Imelda Usoro-Olaoye, alongside FIABCI-Nigeria and the Lagos State Development and Property Corporation (LSDPC), for supporting the platform.
He expressed confidence that sustained collaboration among government, investors and real estate professionals would expand housing opportunities, strengthen businesses and contribute to a more competitive Lagos economy.
During the panel session, the representative of the Governor, Moruf Akinderu-Fatai, while responding on the various achievements and reforms of the federal government which tends to facilitate real estate ownership such as MREIF and ease at which the private sector is delivering homes to its customers, encourage investors to also speak out on the benefit of the reforms.
