LASG RECOVERS 270M FROM FRAUDULENT ESTATE AGENTS, CREATES 4,793 JOBS
… As New Housing Stock Hits 10,623
… Targets 14,022 By End of 2026
The Lagos State Government’s sustained interventions in housing delivery has increased the State’s housing stock to 10,623 units, created 4,793 direct and indirect jobs for skilled, semi-skilled and unskilled workers within the last year, just as it recovered N277,020,500 for residents defrauded through fraudulent real estate transactions through strengthened regulatory enforcement.
The Honourable Commissioner for Housing, Hon. Moruf Akinderu-Fatai, FCIS, disclosed this during the Annual Ministerial Press Briefing held at the Bagauda Kaltho Press Centre, Alausa, Ikeja, to commemorate the third year of Governor Babajide Olusola Sanwo-Olu’s second term in office.
Speaking further at the briefing, the Commissioner said Lagos State’s housing interventions are being implemented against the backdrop of a worsening global housing crisis.
Citing data from UN-Habitat, Akinderu-Fatai noted that nearly half of the world’s population, estimated at 3.4 billion people, currently lacks access to secure, safe and adequate housing, while the global housing deficit has risen to more than 268 million units.
He explained that Nigeria mirrors the global trend, adding that the National Housing Data Technical Committee inaugurated by the Federal Ministry of Housing and Urban Development recently estimated the nation’s housing deficit at 14.925 million units, with an additional 15.2 million homes classified as structurally inadequate or substandard.
Focusing on Lagos State, the Commissioner stated that the housing challenge is further compounded by rapid urbanisation, population growth and increasing rural-urban migration.
According to him, Lagos currently faces an estimated housing deficit of over 3.3 million units, driven by a metro population exceeding 17.8 million people and an annual growth rate of approximately 3.8 per cent.
Akinderu-Fatai said the Sanwo-Olu administration has continued to respond through a strategic mix of direct government intervention, affordable housing delivery and Public-Private Partnerships aimed at expanding access to decent housing for low and middle-income residents.
“Partners benefit from simplified approvals, tax incentives, creative financing models and supportive regulations that collectively boost affordable housing for the low and medium-income brackets,” he stated.
The Commissioner disclosed that the administration has increased Lagos State’s housing stock by 10,623 units within the last seven years. According to him, direct budgetary funding by the Ministry of Housing produced 4,414 homes, while Public-Private Partnerships delivered an additional 6,209 housing units.
He added that two major housing projects commissioned in 2025 - the 420-unit Akinsanya Sunny Ajose Estate Phase I and the 233-unit Abraham Adesanya Housing Estate - brought the total number of estates completed under the Sanwo-Olu administration to 23, since 2019.
Akinderu-Fatai further revealed that five major housing schemes currently under construction through direct budgetary allocation are scheduled for completion between the second and fourth quarters of 2026. The projects include the 576-unit Egan-Igando Mixed Housing Scheme, the 528-unit LagosHOMS Sangotedo Phase II, LagosHOMS Ibeshe Phase II, Epe Housing Scheme at Itamarun, and the Workers’ Village Housing Project in Ipaja.
He noted that ongoing joint venture projects across Ikorodu, Ipaja, Ilubirin and Eti-Osa are expected to add another 3,791 units to the State’s housing stock, while approvals have also been granted for 202 additional units at Abraham Adesanya Housing Estate and 114 luxury units at Orange Island, Eti-Osa.
On the activities of the Lagos State Development and Property Corporation (LSDPC), the Commissioner disclosed that the agency has completed 12 housing projects and delivered 1,190 homes within the last seven years, while 29 ongoing projects are projected to add another 3,149 units.
Akinderu-Fatai also highlighted the role of the Lagos State Mortgage Board in improving access to affordable home ownership, revealing that the Board has assisted over 20,000 residents through its mortgage and Rent-To-Own schemes over the last 12 years.
He stated that 100 mortgagors successfully exited the Rent-To-Own scheme in August 2024 after completing their 10-year repayment plans, while another 110 beneficiaries exited the scheme in July 2025.
Speaking on consumer protection and real estate regulation, the Commissioner said the Lagos State Real Estate Regulatory Authority (LASRERA) received 505 petitions from members of the public between 2025 and 2026, successfully resolved 39 cases, and recovered N270,020,500 from fraudulent real estate operators.
He added that LASRERA has intensified stakeholder engagement across the 57 Local Government and Local Council Development Areas through partnerships with Community Development Associations, Community Development Committees, traditional rulers and professional bodies to promote professionalism and enforce the approved 10 per cent agency fee cap.
The Commissioner also disclosed that the agency established satellite offices in Agege, Ojodu and Igbogbo-Baiyeku to improve accessibility and regulatory enforcement across the State, while public enlightenment campaigns were carried out across the five IBILE divisions.
Akinderu-Fatai announced that a new Tenancy Bill currently before the Lagos State House of Assembly has reached the Committee Stage and is expected to address critical concerns surrounding rental practices and tenancy administration in the State.
The Commissioner explained that the proposed legislation will mandate registration of all estate agents by LASRERA, fast-track tenancy matters and eliminate exemptions for any part of Lagos State.
“Plans are being finalised for the pilot phase of a Monthly Rental Scheme aimed at reducing the burden of annual rent payment, particularly for low-income earners”, he said.
He added that the Ministry has already implemented a 40 per cent housing rebate for 944 civil servants to support home ownership, while Governor Sanwo-Olu also approved priority consideration for teachers and healthcare personnel serving in remote communities.
On employment generation, Akinderu-Fatai stated that housing construction activities carried out by the Ministry and its agencies generated 4,793 direct and indirect jobs within the last year.
He added that the facility management structure established across government-owned estates has also created 888 additional jobs for cleaners, security personnel, facility managers and artisans.
While citing the rehabilitation of 30 housing blocks damaged by natural disasters at Abiodun Ogunleye Housing Estate, Igbogbo, as well as the expenditure of over N300 million on the repair of the injection sub-station serving Lateef Kayode Jakande Gardens, Igando, the Commissioner disclosed that the Ministry has intensified maintenance and rehabilitation efforts across 52 government-owned estates in Lagos State.
The Commissioner highlighted challenges confronting the sector, including land encroachment, litigations, inflationary pressures and issues involving recalcitrant allottees, However, Akinderu-Fatai assured residents that the State Government remains committed to innovative financing partnerships, stronger monitoring mechanisms and sustainable housing delivery.
The Commissioner expressed appreciation to Governor Babajide Olusola Sanwo-Olu for his leadership and unwavering support for the housing sector. “Construction work has aided the economic buoyancy of artisans, suppliers, professionals and others involved at both the demand and supply angles of home ownership,” he said. “This laudable development can only be attributed to the avowed commitment of Governor Babajide Sanwo-Olu’s administration to add premium value to the housing sector.”
The Lagos State Government Annual Press Briefing serves as a platform for Ministries and Parastatals to present key achievements, ongoing projects, and policy direction across ministries for the past year as part of its commitment to transparency and accountability to Lagosians and other stakeholders.
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