Sanwo-Olu: Lagos Has Delivered 10,623 Housing Units Across 23 Estates Since 2019
Lagos State Governor, Babajide Sanwo-Olu, says his administration has delivered 10,623 housing units across 23 estates in the five administrative divisions of the state since 2019.
The governor disclosed this while delivering the keynote address at the seventh edition of the Real Estate Discussions and Awards, REDA 2026, held at Radisson Blu Hotel, Ikeja GRA, Lagos.
According to him, the figures include 4,414 units funded through direct budgetary allocations and 6,209 units delivered through Public-Private Partnerships, PPPs.
Sanwo-Olu said the state government remains committed to sustainable housing development, improved access to homeownership and increased private sector investment as drivers of economic growth.
He noted that ongoing housing schemes and joint venture projects are expected to raise the total number of homes delivered or projected for completion to 14,022 as the state intensifies efforts to address its housing deficit.
Speaking on 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.
He highlighted several initiatives linked to housing delivery and access to homeownership, including 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.
Sanwo-Olu added that 944 civil servants benefited from a 40 percent housing rebate designed to support homeownership, while housing development generated 4,793 direct and indirect jobs in the preceding year.
He said the figures demonstrate the capacity of the real estate sector to stimulate employment, support construction-related businesses and contribute to wider economic activity.
The governor noted that government alone cannot resolve the state’s housing deficit, calling for stronger collaboration with property developers, financial institutions and other private sector stakeholders to increase housing supply.
On regulation and consumer protection, Sanwo-Olu disclosed that the Lagos State Real Estate Regulatory Authority, LASRERA, has recovered more than N270 million from fraudulent estate agents.
He reiterated government’s commitment to strengthening real estate regulation and working with the Lagos State House of Assembly on a new tenancy law aimed at addressing abnormal rent increases and illegal charges.
Sanwo-Olu emphasised that housing developments must be supported by adequate infrastructure and essential services such as drainage, roads, utilities, waste management and transportation to create sustainable communities.
He said as his administration approaches the end of its tenure, priority remains completing ongoing housing projects and strengthening institutional frameworks that will sustain development beyond the current administration.
The governor urged participants at REDA 2026 to advance practical recommendations on housing finance, public-private collaboration, infrastructure provision and market regulation, and congratulated recipients of the REDA Awards for their contributions to professionalism and innovation in the real estate sector.
In June 2025, Nairametrics reported that the governor had announced plans to complete more than 14,000 housing units by 2026 as part of a broader strategy to address the housing deficit and expand access to affordable homes for low and middle income residents.
Source: Nairametrics
