Lagos State Governor, Babajide Sanwo-Olu, has stressed that solving the state’s housing shortage will require strong collaboration between the government and the private sector, noting that affordable and sustainable housing cannot be delivered by government alone.
The governor made this known on Tuesday while speaking at the Sixth Lagos Real Estate Marketplace Conference held on Victoria Island. The event, organised by the Lagos State Real Estate Regulatory Agency, focused on the theme “Shaping the Future of Lagos Megacity: Infrastructure Investment, Innovation and Affordable Housing.”
Sanwo-Olu said his administration remains committed to building an inclusive and sustainable housing sector but emphasised that private developers, investors and financial institutions must play a central role in achieving this vision. According to him, housing is more than shelter, as it directly affects 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, structured finance and demand-led planning,” he said.
He added that the government’s responsibility is to act as an enabler and regulator rather than the sole provider, noting that meaningful progress depends on effective public-private 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 stated.
Also speaking, the Commissioner for Housing, Moruf Akinderu-Fatai, said Lagos has continued to attract global attention due to its development strategies, infrastructure projects and housing initiatives aimed at positioning the state as Africa’s model megacity. He highlighted the role of regulatory bodies in ensuring that innovation in real estate does not compromise safety or standards.
“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,” he said.
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The Governor’s Special Adviser on Housing, Barakat Odunuga-Bakare, described the conference as a vital platform for government and private sector players to jointly tackle housing challenges in a fast-growing city like Lagos. She noted that partnerships with countries such as the United States, Saudi Arabia, the United Arab Emirates, Canada and others reflect the state’s commitment to adopting global best practices.
She also revealed that a new tenancy bill is currently being reviewed at the Lagos State House of Assembly to improve transparency and streamline real estate 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, infrastructure investment and collaborative solutions to Lagos’ housing challenges. Recent data shows that as of 2025, Lagos faces a housing deficit of about 3.396 million units, despite the delivery of 2.5 million housing units between 1978 and 2025 through combined public and private efforts.
