Infrastructure key to real estate growth, economic prosperity — Sanwo-Olu
Governor Babajide Sanwo-Olu of Lagos State has reiterated the central role of infrastructure development in driving real estate growth, construction activity and long-term economic prosperity, describing it as the “architecture of sustainable development”.
Sanwo-Olu made the remarks on Friday while delivering a keynote address at the 2026 Nigeria Construction and Real Estate Outlook Conference, organised by the Royal Institution of Chartered Surveyors (RICS) Nigeria Group, and held in Victoria Island, Lagos.
Using Lagos as a case study, the governor said Africa’s largest city continues to experience rapid population growth, which presents both pressure and opportunity. He noted that the state has deliberately pursued infrastructure as a long-term investment strategy to unlock private-sector confidence.
“Infrastructure is not an accessory to growth; it is its architecture. It determines where value emerges, how cities expand, and whether growth is inclusive or fragile,” he said.
Represented by the Commissioner for Housing, Mr Moruf Akinderu-Fatai, the governor stressed that professionalism, transparency and integrity in the built environment are decisive factors for attracting investment. He cited the Lagos Rail Mass Transit network, major road and bridge projects, and integrated transport planning as drivers reshaping land use and supporting transit-oriented development.
Sanwo-Olu also highlighted reforms in land administration, planning approvals and public-private partnership frameworks, noting that strong institutions are essential to reducing risk, improving certainty and accelerating project delivery.
He expressed optimism about Nigeria’s construction and real estate outlook in 2026, identifying opportunities in transit-oriented development, urban regeneration, affordable housing, logistics and industrial parks, and climate-resilient infrastructure.
The governor reaffirmed Lagos State’s commitment to sustainable urban development and commended RICS Nigeria Group for its contribution to shaping the built environment, as industry professionals, policymakers and investors participated in discussions on the sector’s future.
