SEO Riders:
– Lagos housing development 2025
– Affordable housing initiatives in Lagos
– Rent-To-Own scheme benefits in Lagos
The Lagos State Government has announced the successful delivery of 9,970 housing units over the past six years, with plans to complete an additional 4,052 units currently under construction and 2,224 units in the planning and design stages. This initiative aims to address the housing deficit and make homeownership more accessible to residents, particularly low- and middle-income earners.
At the 2025 Ministerial Press Briefing held in Alausa, Ikeja, Commissioner for Housing, Mr. Moruf Akinderu-Fatai, highlighted the government’s commitment to delivering quality housing. He noted that 18 housing estates have been commissioned across strategic locations, including Sangotedo, Igbogbo, Epe, Odo-Onosa Ayandelu, Badagry, and Igando. The state employs a mix of funding models, such as direct budgetary allocations, joint ventures with private developers, and public-private partnerships, to facilitate these projects.
A notable initiative is the Rent-To-Own scheme managed by the Lagos State Mortgage Board, which allows residents to pay for their homes in manageable monthly installments. To date, over 20,000 Lagosians have benefited from this program, with 212 individuals completing their payments and becoming proud homeowners.
Despite challenges such as the rising cost of construction materials, the government remains steadfast in its mission to provide livable, safe, and durable homes. Efforts are being made to mitigate these challenges through local sourcing and innovative financing. The housing initiative is a key component of Governor Babajide Sanwo-Olu’s THEMES+ Agenda, focusing on Transportation, Health, Education, Economic Growth, Entertainment, and Security.
