The Lagos State Government has 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.
