By Maduka Nweke
Lagos State Governor, Mr. Babajide Sanwo-Olu, has restated his administration’s dedication to tackling the challenges in the real estate sector through innovative, sustainable and inclusive strategies.
Speaking at the 75th World Congress of the International Real Estate Federation (FIABCI) held in Lagos, the Governor, represented by the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, described the conference’s theme, “Global Real Estate Renaissance,” as timely and reflective of the sweeping transformation the industry is undergoing globally. The theme speaks to the transformation that the real estate sector is undergoing worldwide, driven by innovation, sustainability, and inclusive urban development,” he said.
According to a press release issued by Mr. Ganiu Lawal, Deputy Director, Public Affairs, Ministry of Housing and Urban Development, Governor Sanwo-Olu underscored the administration’s view of housing as a foundational pillar of economic advancement, one that directly influences livelihoods, job creation, and social cohesion.
“In the past years, we have implemented impactful initiatives to scale up affordable housing deliveries using a variety of approaches,” the Governor noted. “Our multi-pronged strategy includes dedicated budgetary allocations targeting low- and middle-income earners, alongside fostering a business environment that encourages private sector participation through Public-Private Partnerships.”
Highlighting key achievements, the Governor revealed that nearly 10,000 housing units have been delivered over the last six years, with an additional 14,000 units targeted for completion by 2026.
“These initiatives not only improve affordability but also enhance quality of life, generate employment, and stimulate the broader economy,” he said.
Sanwo-Olu assured investors and stakeholders present at the event that Lagos remains open for investment and is strategically aligned with global best practices. “Lagos offers immense investment opportunities and is committed to adopting global best practices and sustainable development models that will attract more global partnerships towards achieving the housing and urban development goals,” he said.
The Congress, hosted for the first time on African soil, also featured high-level representation from the federal government. President Bola Tinubu was represented by the Minister of Defence, Alhaji Mohammed Badaru, while former Vice President Professor Yemi Osinbajo delivered the keynote address.