Lagos State Governor, Babajide Sanwo-Olu, has stressed the need for stronger collaboration between government and the private sector to bridge the state’s growing housing deficit, saying affordable and sustainable housing cannot be delivered by government alone.
Sanwo-Olu made the call on Tuesday at the Sixth Lagos Real Estate Marketplace Conference held on Victoria Island, Lagos. The conference, organised by the Lagos State Real Estate Regulatory Agency (LASRERA), was themed “Shaping the Future of Lagos Megacity: Infrastructure Investment, Innovation and Affordable Housing.”
The governor said his administration remains committed to building an inclusive and sustainable housing sector but noted that achieving this goal requires the active participation of private developers, financial institutions and investors.
According to him, housing extends beyond physical structures and directly impacts 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.
He added that the role of government is to serve as an enabler, regulator and partner rather than the sole provider of housing, stressing that no meaningful progress can be achieved without sustained private sector collaboration.
“A true megacity 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,” the governor said.
Also speaking, the Commissioner for Housing, Moruf Akinderu-Fatai, said Lagos has continued to attract global attention through its development strategies, capital projects and housing initiatives aimed at positioning the state as Africa’s model megacity.
He noted that regulatory agencies such as LASRERA play a critical role in ensuring that innovation within the housing and construction sector does not compromise public safety, integrity or regulatory 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,” Akinderu-Fatai said.
The Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, described the conference as a strategic platform for government and private sector stakeholders to collectively address challenges facing housing delivery in a rapidly growing megacity.
She disclosed that partnerships with countries including Saudi Arabia, the United States, the United Arab Emirates, Canada and other African nations reflect the state’s readiness to strengthen its real estate infrastructure and adopt global best practices.
Odunuga-Bakare also revealed that a new tenancy bill currently under review at the Lagos State House of Assembly is aimed at streamlining the roles of real estate practitioners and providing clearer guidelines for property transactions.
“Lagos State is committed to creating the most transparent and investor-friendly real estate ecosystem in Africa. Let us use this platform to forge partnerships that will deliver real homes, not just ideas,” she said.
The conference brought together local and international stakeholders to explore innovative financing models, infrastructure investment and collaborative solutions to address Lagos’ housing challenges.
According to the State of Lagos Housing Market Report, Volume 3, published in July 2025, Lagos faces a housing deficit of 3.396 million units, including 618,356 homes considered inadequate due to structural safety concerns, severe overcrowding or lack of basic services such as clean water, sanitation and electricity.
The report also noted that about 2.5 million housing units were delivered in Lagos between 1978 and 2025 through the combined efforts of the state government, private developers and federal housing agencies.
