By Ayomide Otitoju
Governor Babajide Sanwo-Olu has called on multinational real estate developers to invest in Lagos, highlighting the State’s vision to evolve into a thriving mega city while addressing the challenges of rapid urban growth.
The appeal was made at the 6th Lagos Real Estate Marketplace Conference, held at Eko Hotels and Suites, Victoria Island, with the theme: “Shaping the Future of Lagos Megacity: Infrastructure, Innovation and Affordable Housing”. The event attracted over 2,000 participants, including investors from the United States, Middle East, and Asia, and was organised by the Lagos State Real Estate Regulatory Authority (LASRERA) under the Office of the Special Adviser to the Governor on Housing.
Sanwo-Olu described Lagos as one of the world’s most dynamic urban economies, stressing that the State Government is focused on sustaining inclusive growth and making Lagos livable for future generations. He said: “How do we build a mega city that works not just for the few, but for the many? Provision of housing in the 21st century is not just about buildings; it is about human dignity, economic productivity, social stability and the kind of city we choose to become.”
The Governor highlighted that housing in Lagos is interconnected with transportation, infrastructure, energy, climate resilience, and economic opportunity, and emphasised that homes must be affordable, accessible, and located near workplaces. He called for public-private partnerships, structured finance, land optimisation, and demand-led planning to bridge the housing gap, adding that the Government’s role is to act as enabler, regulator, and partner, not sole provider.
Sanwo-Olu also assured investors of transparency and robust security measures, stating: “To our local developers, Lagos believes in you. To our international partners, Lagos is open, ready and serious. This State remains one of the safest, most stable, and best-governed investment destinations in Africa.” He added that the Government has strengthened security through technology, intelligence, manpower, and multi-agency collaboration.
The Governor commended LASRERA for sustaining the platform, describing it as a “marketplace where ideas meet policy, capital meets opportunity, and vision meets implementation.”
Special Adviser to the Governor on Housing, Barr. Barakat Odunuga-Bakare, said the conference serves as an intellectual forum for practitioners, noting that previous editions had influenced regulatory reforms, including the New Tenancy Bill under review by the Lagos State House of Assembly, which aims to balance the rights of landlords and tenants and provide clear guidelines for real estate transactions.
Keynote speaker and former Lagos Commissioner for Environment, Dr. Muiz Banire, SAN, highlighted measures to accelerate housing development, including adherence to master plans, protection of highway setbacks, and stronger environmental laws to ensure the city remains habitable for residents.
The 6th Lagos Housing Marketplace reinforced Lagos State’s commitment to integrated urban planning, affordable housing, and creating a conducive environment for local and international real estate investment.
