Lagos State Governor Babajide Sanwo-Olu says his administration has delivered 10,623 housing units across 23 estates in the state’s five administrative divisions since 2019.
He made the disclosure while delivering the keynote address at the seventh edition of the Real Estate Discussions and Awards (REDA 2026), held at the Radisson Blu Hotel in Ikeja GRA.
The 10,623 units include 4,414 funded through direct budget allocations and 6,209 delivered through public-private partnerships (PPPs). Sanwo-Olu said ongoing housing schemes and joint-venture projects would raise the total delivered or projected for completion to 14,022, as the state works to reduce its housing deficit.
Speaking on the theme “Economic Development and Real Estate Linkages: The Practicable Framework,” he said effective land administration, accessible housing finance, strategic partnerships and credible regulation are needed to unlock the sector’s economic potential.
He said the Lagos State Mortgage Board’s mortgage and rent-to-own schemes have supported more than 20,000 residents over the past 12 years. A total of 944 civil servants have benefited from a 40% housing rebate designed to support homeownership. Housing development generated 4,793 direct and indirect jobs in the preceding year, he added.
The governor said the state alone cannot close its housing gap and called for closer work with property developers, financial institutions and other private stakeholders to increase supply.
On regulation, he said the Lagos State Real Estate Regulatory Authority (LASRERA) has recovered more than ₦270 million from fraudulent estate agents. He also reiterated the government’s commitment to working with the Lagos State House of Assembly on a new tenancy law aimed at curbing abnormal rent increases and illegal charges.
Sanwo-Olu said housing developments must be backed by drainage, roads, utilities, waste management and transport. As his administration nears the end of its tenure, he said its priority is completing ongoing housing projects and strengthening institutions that can sustain development after it.
