My administration delivered 10,623 homes in seven years: Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos State says his administration has delivered 10,623 housing units across 23 estates in the state since 2019.

Mr Sanwo-Olu said this in a statement by Ganiu Lawal, deputy director, Public Affairs Report, Ministry of Housing, on Friday in Lagos.

The statement said Mr Sanwo-Olu made the assertion at the seventh edition of the Real Estate Discussions and Awards on Tuesday.

The governor, whose keynote address was delivered by the state Commissioner for Housing, Moruf Akinderu-Fatai, said the housing units comprised 4,414 delivered through direct budgetary allocation and 6,209 through public-private partnerships (PPPs).

He said ongoing housing schemes and joint venture projects were expected to increase the number of homes delivered or projected for completion to 14,022.

The governor said his administration remained committed to improving access to homeownership, attracting private investment and promoting sustainable housing development.

He identified effective land administration, accessible housing finance, strategic partnerships and proper regulation as key measures needed to support growth in the real estate sector.

According to him, the state was using the Electronic Physical Planning Permit Processing System and completed model city plans for Lagos Island, Ibeju-Lekki and Badagry to improve planning and build investors’ confidence.

Mr Sanwo-Olu also 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.

He added that 944 civil servants had benefited from a 40 per cent housing rebate to make homeownership easier.

The governor said housing development generated 4,793 direct and indirect jobs in the previous year, noting that the sector also supported construction businesses and other economic activities.

He called for stronger collaboration among the government, property developers, financial institutions and other private sector stakeholders to address the state’s housing deficit.

“Government cannot close a deficit of this size alone, and it does not intend to,” he said.

On consumer protection, Mr Sanwo-Olu disclosed that the Lagos State Real Estate Regulatory Authority had recovered more than N270 million from fraudulent estate agents.

He also said the government was working with the Lagos State House of Assembly on a new tenancy law to address excessive rent increases and illegal charges.

The governor stressed that housing projects must be supported by adequate roads, drainage, water, waste management and transportation facilities to create sustainable communities.

He said the administration’s priority, as its tenure approached its end, was to complete ongoing housing projects and strengthen institutions that would sustain development.

Mr Sanwo-Olu urged participants at the event to make practical recommendations on housing finance, infrastructure, public-private partnerships and market regulation.

During a panel session, Mr Akinderu-Fatai urged private sector investors to speak more about the benefits of federal government reforms designed to improve access to homeownership.

He cited the Mortgage Refinance and Equity Investment Fund and efforts to make it easier for private developers to deliver homes to buyers.

The commissioner encouraged investors to share their experiences and explain how the reforms could support housing delivery and expand homeownership opportunities.

Mr Sanwo-Olu commended Thinkmint Nigeria, Thinkmint Europe, FIABCI-Nigeria and the Lagos State Development and Property Corporation for supporting the platform.

The event was organised by Thinkmint Nigeria in collaboration with Thinkmint Europe, under the leadership of its founder and chief executive officer, Imelda Usoro-Olaoye.

The event had the theme, “Economic Development and Real Estate Linkages: The Practicable Framework.”

 (NAN)