Sanwo-Olu seeks private sector partnership to tackle Lagos housing deficit

By Adeola Ogunrinde –

Governor Babajide Sanwo-Olu has said strong collaboration between government and the private sector is critical to bridging the housing deficit in Lagos, stressing that affordable and sustainable housing cannot be delivered by government alone.

Sanwo-Olu made this known on Tuesday at the 6th Lagos Real Estate Marketplace Conference organised by the Lagos State Real Estate Regulatory Agency (LASRERA), with the theme “Shaping the Future of Lagos Mega City: Infrastructure Investment, Innovation and Affordable Housing.”

The governor said his administration is committed to building an inclusive and sustainable housing sector for all residents, but noted that achieving this goal requires the active participation of private developers, financial institutions and investors. According to him, housing goes beyond physical structures and speaks directly to human dignity, economic productivity and social stability.

“Housing is not just about buildings. It is about the kind of city we choose to become. In Lagos, affordability means homes people can actually live in, pay for and access close to where they work and raise families. This can only be achieved through partnerships, leveraging public-private partnerships, structured finance and demand-led planning,” Sanwo-Olu said.

He emphasised that government’s role is to act as an enabler, regulator and partner, rather than the sole provider of housing, adding that no meaningful progress can be made without strong collaboration with the private sector.

“A true megacity is not defined by how tall it builds, but by how well it lives. That is the Lagos we are committed to building thoughtfully, inclusively and sustainably,” he added.

Also speaking at the event, the Commissioner for Housing, Mr Moruf Akinderu-Fatai, said Lagos has attracted global attention due to its development strategies, capital projects and housing initiatives aimed at positioning the state as Africa’s model megacity. He noted that regulatory agencies such as LASRERA play a key role in ensuring that innovation in the housing and construction sector does not compromise public safety, integrity or compliance.

The Special Adviser to the Governor on Housing, Ms Barakat Odunuga-Bakare, described the conference as a strategic platform for government and private sector stakeholders to jointly address challenges facing the housing sector in a rapidly growing megacity like Lagos. She disclosed that the state government is reviewing a new tenancy bill at the Lagos State House of Assembly to streamline the roles of real estate practitioners and provide clearer guidelines for property transactions.