The Special Adviser to the Lagos State Governor on Housing, Barr. Barakat Odunuga-Bakare, has called for bold policy reforms to unlock Nigeria’s housing market and bridge the chronic supply-demand gap in the sector.
Speaking at the BRG Developers Summit 2025 in Morocco, Odunuga-Bakare, in her keynote address titled “Government as Enabler or Obstacle? Policy Reforms Needed to Unlock Nigeria’s Housing Market Potential”, said the government must evolve from being perceived as a barrier to becoming an active enabler of private sector-driven housing delivery.
She identified the Land Use Act of 1978, multiple taxation policies, and lack of incentives for affordable housing as major obstacles limiting growth in the real estate sector.
According to her, the Act continues to create bottlenecks in land ownership, titling, and registration—issues that raise transaction costs and discourage investors.
Highlighting Lagos State’s interventions, she noted that Governor Babajide Sanwo-Olu’s administration is addressing these barriers through initiatives such as the Lagos State Geographic Information System (LAGIS), which digitalises land registries, and the Lagos Revenue Portal (LRP), which harmonises levies to improve transparency and ease of doing business.
On affordability, she stressed that Value Added Tax (VAT) and multiple levies on building materials inflate construction costs. She said Lagos is promoting Public-Private Partnerships (PPP), local building materials, and subsidy programmes through schemes like LagosHoms and Rent-to-Own, aimed at reducing the housing deficit.
“The real estate sector is not just about land and property transactions; it is about creating an enabling environment, shaping lives, and building a sustainable future.
To unlock housing potentials, policies must move from regulatory dominance to enabling private investment through transparent reforms and workable incentives,” Odunuga-Bakare said.
She reaffirmed Lagos State’s commitment to fostering a housing market that attracts investors while delivering affordable, decent homes to residents.
