Lagos state delivers 9,970 housing models in six years, targets extra properties by 2026 

This was revealed through the 2025 Ministerial Press Briefing held on Tuesday at Alausa, Ikeja, as a part of the second anniversary of Governor Babajide Sanwo-Olu’s second time period in workplace.

The Commissioner for Housing, Mr. Moruf Akinderu-Fatai, stated the federal government has commissioned and handed over a number of housing initiatives throughout strategic areas.

“Now we have commissioned and handed over 18 housing estates throughout strategic areas together with Sangotedo, Igbogbo, Epe, Odo-Onosa Ayandelu, Badagry, and Igando,” he stated.

In accordance with Akinderu-Fatai, an extra 4,052 housing models are at present below building, whereas 2,224 are within the planning and design phases. These models are scheduled for supply between the tip of 2025 and early 2026.

Funding fashions  

The commissioner defined that the housing initiatives had been being funded by way of a number of fashions, together with direct state allocations, joint ventures with personal builders, and public-private partnerships.

He highlighted the Hire-To-Personal scheme managed by the Lagos State Mortgage Board as one of many key initiatives easing housing entry for residents.

“Up to now, over 20,000 Lagosians have benefited from the Hire-To-Personal scheme, and 212 of them have accomplished fee and are actually proud owners,” he acknowledged.

The programme permits residents to steadily pay for his or her properties in month-to-month instalments, versus making massive upfront funds.

Give attention to high quality and inclusivity 

Akinderu-Fatai emphasised that the state authorities is dedicated to making sure high quality in its housing programmes.

“It’s not nearly numbers. We’re ensuring that the properties we ship are livable, protected, and constructed to final. 

All our estates are being developed with primary infrastructure and facilities to make sure a superb high quality of life,” he stated.

He added that housing stays a essential element of the Sanwo-Olu administration’s THEMES+ Agenda, which incorporates Transportation, Well being, Training, Financial Progress, Leisure, and Safety.

Addressing building challenges 

Rising building prices, pushed by inflation and overseas trade volatility, had been recognized as key challenges.

The commissioner famous that the state is mitigating these points by way of native sourcing and progressive financing mechanisms.

“We all know the necessity is nice, and we’re doing all the pieces attainable to fulfill it. No a part of Lagos shall be left behind,” he added.

Month-to-month, quarterly hire fee system 

As a part of its efforts to ease the monetary burden of housing, Moruf Akinderu-Fatai famous that the state authorities is finalising plans to introduce a month-to-month and quarterly hire fee system, particularly focused at low-income earners.

The proposed versatile hire fee construction is designed to help tenants who battle with the standard annual hire mannequin.

“We consider that month-to-month or quarterly fee choices will give individuals extra respiratory area and scale back the stress related to sourcing lump sums,” Akinderu-Fatai added.

The commissioner famous that consultations are ongoing with landlords, property builders, and different actual property stakeholders to handle sensible issues surrounding the implementation.

“After all, there are points to resolve, issues like landlord cooperation, fee monitoring and enforcement. However discussions are ongoing and we’re listening to all sides,” he stated.

He assured that the state authorities shouldn’t be merely floating concepts however is already making actual progress towards piloting the scheme in chosen elements of Lagos, including that they perceive the influence it will have on many households and are decided to make it a actuality.