The Lagos State Government has urged foreign investors to back its low-cost housing programs, which are structured with long-term repayment plans to ensure sustainability.
This appeal was made by the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, during the 2024 World Urban Forum hosted by the United Nations Human Settlements Programme (UN-Habitat) in Cairo, Egypt.
In a statement on Tuesday, Akinderu-Fatai highlighted Lagos’s success in the housing sector. He said, “The LASG consistently balanced its rapid urbanisation challenges while implementing the Sustainable Development Goals with a focus on Goal 11.”
The Commissioner further underscored the government’s commitment to creating a more livable urban space.
“This unit, which would be accessed through affordable mortgage arrangements, is another laudable stride by the state towards social housing, particularly aimed to reduce the housing deficit further, hence bringing more low and middle-income earners on the housing ladder,” Akinderu-Fatai noted.
He also shared that Lagos has formed alliances with stakeholders to provide more affordable housing to accommodate the city’s growing population. This includes strategic partnerships with financial institutions to develop additional housing projects across the state.
Commissioner for Physical Planning and Urban Development, Dr. Abiodun Olumide, also addressed the forum, describing the measures the Lagos government is implementing to sustain urban development amid rapid population growth.
