Lagos housing gap widens to over 3.3 million homes, says Sanwo-Olu
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Lagos State Governor Babajide Sanwo-Olu says independent estimates put the state's housing gap at more than 3.3 million homes, as his administration reports delivering 10,623 homes over seven years.
Lagos State Governor Babajide Sanwo-Olu has disclosed that the state faces a significant housing challenge, with independent estimates putting the state's housing gap at over 3.3 million homes.
Sanwo-Olu made the disclosure while speaking at an event in Lagos to commemorate the 2026 World Habitat Day themed Adequate Housing for All, held at the Blue Roof, Lagos Television Complex, Agidingbi, Ikeja, and organised by the Lagos State Ministry of Physical Planning and Urban Development. He was represented by the Commissioner, Ministry of Housing, Mr Moruf Akinderu-Fatai.
"While an estimated 2.8 billion people globally live in inadequate housing, including about 1.1 billion people in slums and informal settlements, Lagos also faces a significant housing challenge, with independent estimates putting the State's housing gap at over 3.3 million homes," Sanwo-Olu said.
The governor said his administration had delivered 10,623 homes over seven years, comprising 4,414 homes through direct budgetary funding and 6,209 through public-private partnerships, with 23 housing estates completed across the five divisions of the state since 2019. He acknowledged that the figure represented a contribution rather than a complete solution to the deficit.
Sanwo-Olu said more than 20,000 Lagosians have been supported through mortgage and rent-to-own schemes over the past 12 years, with first-time buyers under the Rent-to-Own scheme able to take possession with a five per cent deposit and repay the balance over ten years, while the Lagos HOMS scheme provides for an equity contribution of up to 30 per cent with repayment over ten years.
He disclosed that five housing schemes currently under construction through direct budgetary funding would deliver an additional 1,584 homes, while the Ajara Phase II high-rise development had also commenced. On tenancy, he said the proposed Tenancy and Recovery of Premises Bill before the Lagos State House of Assembly was intended to address arbitrary rent increases, illegal charges and the regulation of estate agents, with proposals for monthly and quarterly rent payments also being considered.