By Seyi Odewale
Lagos State Governor, Mr Babajide Sanwo-Olu, has reaffirmed the commitment of his administration to continuously addressing the significant challenges confronting the real estate sector with vibrant and innovative solutions.
The Governor stated this during the 75th World Congress of the International Real Estate Federation, held at Eko Hotels and Suites on Victoria Island, Lagos, with the theme “Global Real Estate Renaissance.”
The governor, represented by Commissioner for Housing Moruf Akinderu-Fatai, stated that the event’s theme reflects the transformation the real estate sector is undergoing worldwide, driven by innovation, sustainability, and inclusive urban development.
He stated that his administration recognises housing as a fundamental pillar of economic growth and is addressing the multifaceted impact of housing on livelihoods, job creation, and social stability.
The Governor emphasised that in recent years, the state government has implemented impactful initiatives to scale up affordable housing deliveries employing a variety of approaches.
He said, “Our multi-pronged approach includes dedicated budgetary allocations targeting low- and middle-income earners, alongside fostering a business environment that encourages private sector participation through Public-Private Partnerships.
“These efforts have delivered nearly 10,000 housing units over six years, with plans to complete over 14,000 more by 2026.”
These initiatives, according to him, not only improve affordability but also enhance quality of life, generate employment, and stimulate the broader economy.
He, however, assured the participants that Lagos offers immense investment opportunities and is committed to adopting global best practices and sustainable development models that will attract more global partnerships towards achieving the housing and urban development goals.
President Bola Tinubu was represented by the Minister of Defence, Alhaji Mohammed Badaru, while Prof. Yemi Osinbajo was the keynote speaker at the Congress, held in Lagos for the first time on African soil.
