Sanwo-Olu Calls for Private Capital to Drive Affordable Housing at Lagos Real Estate Conference

Sanwo-Olu Calls for Private Capital to Drive Affordable Housing at Lagos Real Estate Conference
Your assets are protected in Lagos, Governor tells investors
Assures investors of transparency and a secure investment climate

The sixth Lagos Real Estate Marketplace Conference has spotlighted the State Government’s vision to transform Lagos into a thriving megacity while addressing the challenges arising from rapid urban growth.

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Eko Hot Blog reports that the conference, which attracted over 2,000 physical participants, including real estate investors from America, the Middle East and Asia, was held at Eko Hotels and Suites, Victoria Island. The event was themed, “Shaping the Future of Lagos Megacity: Infrastructure, Innovation and Affordable Housing.”

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It was organised by the Lagos State Real Estate Regulatory Authority (LASRERA) under the Office of the Special Adviser to the Governor on Housing.

Governor Babajide Sanwo-Olu said Lagos had evolved into one of the world’s most dynamic urban economies but stressed that the focus of his administration was to sustain inclusive growth and make the State liveable for generations yet unborn.

Sanwo-Olu Calls for Private Capital to Drive Affordable Housing at Lagos Real Estate Conference

According to him, Lagos had moved beyond a city of potential to a city of performance, driven by accelerated development and economic expansion. However, he noted that the pace of growth had also created new challenges that must be addressed deliberately.

The Governor identified the provision of dignified and affordable housing for the State’s growing population as a major concern, stressing the need to attract more private capital for public good.

“How do we build a megacity that works not just for the few but for the many? Housing in the 21st century is not just about buildings. It is about human dignity, economic productivity, social stability and the kind of city we choose to become,” Sanwo-Olu said.

He explained that housing remained central to Lagos’ development agenda and was closely linked to transportation, infrastructure, energy, climate resilience and economic opportunity.

Sanwo-Olu said the State Government was investing heavily in enabling infrastructure such as roads, rail, power, water and drainage, noting that housing development must be connected to jobs, markets and mobility.

He added that affordability meant building homes that residents could live in, pay for and easily access, close to where they work and raise families.

The Governor said the gap in housing delivery could be bridged through Public Private Partnerships, structured finance, land optimisation and demand-led planning, while emphasising that government must act as an enabler, regulator and partner rather than the sole provider.

While wooing investors, Sanwo-Olu assured them of transparency and a secure investment climate.

“To our local developers, Lagos believes in you. To our international partners, Lagos is open, ready and serious. This State remains one of the safest, most stable and best-governed investment destinations in Africa,” he said.

He added that the State had strengthened its security architecture through technology, intelligence gathering, improved manpower and multi-agency collaboration, describing safety and the rule of law as non-negotiable.

Sanwo-Olu commended LASRERA for sustaining the conference platform, describing it as a marketplace where ideas meet policy, capital meets opportunity and vision meets implementation.

Earlier, the Special Adviser to the Governor on Housing, Barrister Barakat Odunuga-Bakare, said the Lagos Real Estate Marketplace had become an intellectual platform for practitioners, noting that previous editions had resulted in regulatory interventions and policy reforms.

She disclosed that the New Tenancy Bill currently before the Lagos State House of Assembly was one of the outcomes of the conference, aimed at balancing the rights of landlords and tenants while providing clearer guidelines for real estate transactions.

Sanwo-Olu Calls for Private Capital to Drive Affordable Housing at Lagos Real Estate Conference

In his keynote lecture, former Lagos State Commissioner for Environment, Dr. Muiz Banire, SAN, outlined measures to accelerate housing development, stressing that government vision must outlive policies.

Banire also called for strict adherence to the State’s master plan, protection of highway setbacks and stronger environmental protection laws to ensure a habitable city.