Lagos State is currently grappling with a significant housing gap of 2.3 million, according to the Commissioner for Housing, Moruf Akinderu-Fatai. Represented by the ministry’s permanent secretary, Abdulhafiz Toriola, Akinderu-Fatai emphasized the critical need for strategic action from both government and stakeholders at the Stanbic IBTC Home Ownership Summit.
Despite the increasing demand for housing, the Lagos State government has made efforts to address the issue, having delivered 39 state-owned estates providing over 10,000 flats. Additional projects are underway, expected to add approximately 1,938 more flats.
Wole Adeniyi, CEO of Stanbic IBTC Bank mentioned that the bank’s home loan offerings provide a hopeful option for addressing the pressing issue of housing access in Lagos.
Source: Daily Trust