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 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.
The delivery figures include 4,414 units funded through direct budgetary allocations and 6,209 delivered through Public-Private Partnerships (PPPs).
The governor reaffirmed his administration’s commitment to sustainable housing development, improved access to homeownership and increased private sector investment, describing these as important drivers of economic growth.
Lagos Delivers 10,623 Homes Across 23 Estates
Sanwo-Olu said ongoing housing schemes and joint venture projects were 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,” he identified effective land administration, accessible housing finance, strategic partnerships and credible regulation as essential to unlocking the real estate sector’s economic potential.
The governor highlighted several initiatives and outcomes linked to housing delivery and access to homeownership.
He said the Lagos State Mortgage Board’s mortgage and rent-to-own schemes had supported more than 20,000 residents over the past 12 years.
A total of 944 civil servants benefited from a 40% housing rebate designed to support homeownership.
Housing development generated 4,793 direct and indirect jobs in the preceding year, according to the governor.
Sanwo-Olu said these figures demonstrated the sector’s capacity to stimulate employment, support construction-related businesses and contribute to wider economic activity.
He added that the government alone could not resolve the state’s housing deficit, calling for stronger collaboration with property developers, financial institutions and other private sector stakeholders to increase housing supply.
Housing Projects Generate 4,793 Jobs
Sanwo-Olu said sustainable housing development required more than the construction of residential units, stressing the importance of regulation, infrastructure and access to finance in supporting the real estate market.
On consumer protection, he disclosed that the Lagos State Real Estate Regulatory Authority (LASRERA) had recovered more than N270 million from fraudulent estate agents.
The governor also reiterated the 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.
- He emphasised that housing developments must be supported by adequate infrastructure and essential services.
- These include drainage, roads, utilities, waste management and transportation, which he said were important to creating sustainable communities.
- As his administration approaches the end of its tenure, Sanwo-Olu said its priority remained completing ongoing housing projects and strengthening institutional frameworks that would sustain development beyond the current administration.
He urged participants at REDA 2026 to advance practical recommendations on housing finance, public-private collaboration, infrastructure provision and market regulation. He also congratulated the recipients of the REDA Awards for their contributions to professionalism and innovation in the real estate sector.
What you should know
In June 2025, Nairametrics reported that Sanwo-Olu had announced plans to complete more than 14,000 housing units by 2026 as part of a broader strategy to address Lagos State’s housing deficit and expand access to affordable homes for low- and middle-income residents.
At the time, the governor, represented by the Commissioner for Housing, Moruf Akinderu-Fatai, said nearly 10,000 housing units had been delivered over the preceding six years, with efforts being intensified to increase housing supply across the state.
- “We have put in place a range of strategies to increase the supply of affordable housing, especially for low and middle-income residents,” Sanwo-Olu said.
- “So far, these efforts have led to the delivery of nearly 10,000 housing units in the last six years, and we aim to complete over 14,000 more by 2026,” he added.
The governor said the state had made special budget allocations and created an enabling environment for private sector investment through public-private partnerships.
The latest figures put the reported delivery at 10,623 units across 23 estates, while ongoing schemes and joint venture projects are expected to bring the total delivered or projected for completion to 14,022.