Lagos Aims to Deliver 14,000 New Homes by Early 2027

The Lagos State Government aims to deliver over 14,000 housing units by the first quarter of 2027, as part of its efforts to tackle the state's housing deficit, with 10,623 home units already delivered in the last seven years under Governor Babajide Sanwo-Olu's administration.

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State Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this information during a ministerial press briefing commemorating the third year of Governor Sanwo-Olu and Deputy Governor Dr Obafemi Hamzat's second term in office, held at Alausa, Ikeja on Tuesday.

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The administration has employed multiple strategies to address affordable housing challenges, including direct budgetary allocations for low-income housing projects and Public-Private Partnerships with private developers, according to Akinderu-Fatai.

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Akinderu-Fatai stated that under Governor Babajide Sanwo-Olu, Lagos State has introduced several initiatives to solve the affordable housing problem, with the government commissioning the Akinsanya Sunny Ajose Estate Phase One in October 2025, comprising 420 units of one, two, and three-bedroom apartments.

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In November 2025, the government also commissioned 233 housing units within the Abraham Adesanya Housing Estate, developed in partnership with Urban Shelter, bringing the total number of completed housing estates under the Sanwo-Olu administration to 23 since 2019.

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The commissioner explained that 4,414 housing units were delivered through direct government funding, while Public-Private Partnerships contributed an additional 6,209 homes, resulting in a total of 10,623 home units delivered in the last seven years.

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Akinderu-Fatai disclosed that five major housing projects are currently ongoing under budgetary allocation, including the Egan-Igando Mixed Housing Scheme and the Epe Housing Scheme at Itamarun, with completion expected before the end of the first quarter of 2027.

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Upon completion, the administration of Governor Babajide Sanwo-Olu would have delivered a total of 14,022 home units to Lagosians, according to the commissioner.

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Akinderu-Fatai noted that the global housing crisis has worsened significantly, citing a UN-Habitat report estimating that about 3.4 billion people worldwide lack access to safe and adequate housing.

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The situation is also reflected in Nigeria, where the National Housing Data Technical Committee recently put the country's housing deficit at 14.925 million units, with an additional 15.2 million existing homes classified as structurally inadequate or substandard.

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The Federal Government has responded with several initiatives, including the Ministry of Finance Incorporated Real Estate Investment Fund, launched in 2025 to support affordable mortgage financing, providing single-digit mortgage loans at 9.75 per cent interest rate with repayment periods of up to 20 years.

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The Lagos State Mortgage Board has supported over 20,000 residents through mortgage and rent-to-own schemes over the last 12 years, with 100 beneficiaries completing mortgage repayments and becoming homeowners in 2024, and another 110 beneficiaries exiting the scheme successfully in 2025.

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The Lagos State Mortgage Board currently has 2,207 pending applications for home unit allocation within various schemes, according to Akinderu-Fatai.

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The state government plans to introduce monthly and quarterly rent payment systems to reduce the burden of annual rent on residents, replacing the burden of yearly rent payment, especially for low-income earners.

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The Lagos State Real Estate Regulatory Authority received 505 petitions relating to real estate transactions, resolved 39 cases, recovered three properties, and retrieved more than N270 million from fraudulent agents.

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A new tenancy bill before the Lagos State House of Assembly seeks to address excessive rent increases, arbitrary charges, and fraudulent practices in the sector, with registration of all agents in Lagos State by LASRERA set to become mandatory.

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A total of 944 civil servants benefited from a 40 per cent housing rebate approved by Governor Sanwo-Olu to improve home ownership, while the housing sector generated 4,793 direct and indirect jobs in the last one year across skilled, semi-skilled, and unskilled labour categories.

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Akinderu-Fatai identified challenges affecting housing delivery in the state, including encroachment on government land, litigations, inflationary trends, limited housing allocation, and issues involving defaulting allottees.