Lagos State Governor, Mr Babajide Olusola Sanwo-Olu, has reaffirmed his administration’s commitment to infrastructure-led growth, innovation and affordable housing, declaring that Lagos has moved beyond promise to performance as Africa’s leading mega city.
The Governor gave the assurance on Tuesday while delivering the keynote address at the 6th Lagos Real Estate Marketplace Conference and Exhibition, organised by the Lagos State Real Estate Regulatory Authority (LASRERA) at the Eko Hotel and Suites, Victoria Island.
Speaking on the theme “Shaping the Future of Lagos Mega City: Infrastructure Investment, Innovation and Affordable Housing,” Sanwo-Olu said Lagos was already one of the world’s most dynamic urban economies, stressing that the focus of government was to ensure the city’s growth remained inclusive, liveable and sustainable.
“Lagos is not a city waiting to become great. Lagos is already great. What we are doing now is shaping how that greatness endures and how it works for the many, not just the few,” the Governor said.
He noted the strong international participation at the conference, with delegates and investors from Saudi Arabia, the United Arab Emirates, Europe, Asia and ,the Americas, describing their presence as a clear vote of confidence in Lagos’ investment climate.
Sanwo-Olu explained that while impressive skylines were important, the real challenge lay in providing decent and affordable housing for a fast-growing population without compromising quality or sustainability.
According to him, housing remains central to the state’s development agenda and is being deliberately integrated with transportation, energy, climate resilience and economic planning.
He outlined the state’s four-pronged strategy, which includes massive investment in enabling infrastructure such as roads, rail and utilities; regulatory reforms to strengthen transparency and consumer protection; the adoption of innovative construction and financing models; and a redefinition of affordable housing as a viable economic sector rather than a welfare initiative.
“Affordable housing is not charity. It is a serious economic sector that requires smart design, blended finance and strong public-private collaboration,” Sanwo-Olu said.
The Governor also assured investors of safety, stability and good governance, describing Lagos as one of the safest and best-governed investment destinations in Africa. He added that security, transparency and the rule of law remained non-negotiable pillars of the state’s investment environment.
In his remarks, the Commissioner for Housing, Mr Moruf Akinderu-Fatai, said the Lagos State Government remained committed to repositioning the state as Africa’s foremost mega city through investment-driven growth and innovation.
He described Lagos as a global hub for urban development, noting that the city’s population of over 20 million people within a landmass of about 3,380 square kilometres presented challenges that were being addressed through deliberate planning and targeted investments.
Akinderu-Fatai said infrastructure development remained the backbone of Lagos’ growth, pointing to strategic investments in transportation corridors, housing estates, utilities and economic infrastructure under the Sanwo-Olu administration.
He added that these efforts were guided by long-term planning instruments such as the Lagos State Development Plan, which outlines strategic initiatives and capital projects aimed at positioning Lagos as Africa’s leading mega city by 2052.
Also speaking, the Special Adviser on Housing to the Governor, Mrs Barakat Odunuga-Bakare, described the conference as a strategic platform for forging global partnerships to address Lagos’ housing and urban development challenges.
She revealed that discussions from previous editions of the conference had influenced key policy reforms, including regulatory interventions and improved stakeholder engagement in the real estate sector.
Odunuga-Bakare disclosed that a new tenancy bill is currently under review by the Lagos State House of Assembly, aimed at balancing the rights of landlords and tenants, improving transparency and streamlining real estate transactions.
She added that the state government had intensified collaboration with professional bodies, increased public awareness on engaging licensed practitioners and strengthened stakeholder engagement to protect investors and tenants.