Lagos State Delivers Nearly 10,000 New Homes – More Coming by 2026
In a remarkable move toward reducing the housing deficit in Nigeria, the Lagos State Government has officially delivered 9,970 housing units over the past six years. This announcement was made during the 2025 Ministerial Press Briefing at Alausa, Ikeja, as part of Governor Babajide Sanwo-Olu’s second term progress update.
Housing Estates Commissioned
Commissioner for Housing, Mr. Moruf Akinderu-Fatai, stated that 18 housing estates have been successfully commissioned across key areas including:
- Sangotedo
- Igbogbo
- Epe
- Odo-Onosa Ayandelu
- Badagry
- Igando
These projects reflect Lagos State’s dedication to decentralizing development and ensuring every region benefits from urban growth.
More Homes Underway: 2025–2026 Projections
The state isn’t slowing down. With an additional 4,052 units under construction and 2,224 units in the design phase, Lagos is targeting thousands of new homes between the end of 2025 and early 2026.
Funding Models and Affordable Housing Initiatives
To fund and fast-track these projects, Lagos is adopting flexible models including:
- Direct Government Funding
- Joint Ventures with Private Developers
- Public-Private Partnerships (PPP)
One standout initiative is the Lagos Rent-To-Own Scheme, managed by the Lagos State Mortgage Board. Through this scheme:
- Buyers make a 5% initial deposit
- Monthly payments span up to 10 years
- Over 20,000 residents have benefited
- 212 homeowners have completed their payments
This approach ensures more working-class Lagosians can become homeowners without the pressure of large lump-sum payments.
Quality Over Quantity
Akinderu-Fatai emphasized that it’s not just about the numbers:
“We are making sure that the homes we deliver are livable, safe, and built to last. All our estates are being developed with basic infrastructure and amenities to ensure a good quality of life.”
Tackling Rising Construction Costs
The commissioner also acknowledged the challenge of rising construction costs due to forex fluctuations and inflation. To address this, the government is:
- Prioritizing locally sourced materials
- Exploring innovative financing models
- Encouraging cost-sharing partnerships
Monthly Rent Payment Plan Coming Soon
In a bid to ease housing access for low-income earners, the Lagos State Government is set to introduce monthly and quarterly rent payment options. This will help tenants struggling with the current annual rent system common in Nigeria.
Final Thoughts
With over 20 million residents and growing, Lagos remains at the center of Nigeria’s urban and economic development. These housing initiatives not only demonstrate political will but also reflect a long-term strategy to create a more livable, inclusive, and equitable city.
If you’re looking to own property in Lagos or invest in its booming real estate market, keep an eye on these government-backed developments. They represent some of the most stable and promising opportunities in Nigeria’s property sector today.
