The Lagos State Government says it has recovered over N277 million from fraudulent real estate transactions while expanding its housing stock to 10,623 units as part of efforts to tackle the state’s housing deficit and sanitise the property sector.
Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this during the annual ministerial press briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
According to the commissioner, the recovered funds were secured through stronger regulatory enforcement and intervention by the Lagos State Real Estate Regulatory Authority (LASRERA).
Akinderu-Fatai said the government’s housing interventions were taking place amid worsening global and national housing challenges.
He cited UN-Habitat statistics showing that nearly 3.4 billion people worldwide lack access to secure and adequate housing, while Nigeria’s housing deficit currently stands at about 14.9 million units.
He added that Lagos alone accounts for over 3.3 million housing deficit due to rapid urbanisation and population growth.
The commissioner explained that the administration of Governor Babajide Sanwo-Olu had adopted a combination of direct housing construction and Public-Private Partnership arrangements to bridge the gap.
According to him, the state’s housing stock increased to 10,623 units over the past seven years, with 4,414 units delivered through government funding and 6,209 units completed through PPP collaborations.
He listed recently completed projects to include the 420-unit Akinsanya Sunny Ajose Estate Phase I and the 233-unit Abraham Adesanya Housing Estate, bringing the total number of completed estates under the current administration to 23 since 2019.
Akinderu-Fatai also disclosed that five additional housing projects located in Egan-Igando, Sangotedo, Ibeshe, Itamarun in Epe and Ipaja are expected to be completed in 2026.
On housing regulation, the commissioner revealed that LASRERA received 505 petitions between 2025 and 2026 over fraudulent real estate transactions and tenancy disputes.
He said the agency successfully resolved 39 cases and recovered N270,020,500 from fraudulent property operators within the period.
The commissioner added that enforcement against illegal estate agents had intensified, particularly regarding the state’s directive that agency fees must not exceed 10 per cent of annual rent.
He further disclosed that a new tenancy bill currently before the Lagos State House of Assembly seeks to strengthen rental regulations, mandate compulsory registration for estate agents and fast-track tenancy dispute resolution.
Akinderu-Fatai said the government was also finalising plans for the pilot phase of a monthly rental payment scheme designed to reduce the burden of annual rent payments on low-income earners.
Speaking on employment generation, he said housing projects across the state created 4,793 direct and indirect jobs in the last year, while estate facility management operations generated an additional 888 jobs.
The commissioner further noted that 100 beneficiaries exited the Rent-To-Own scheme in August 2024 after completing repayments, while another 110 beneficiaries exited in July 2025.
He said rehabilitation works were ongoing across 52 government housing estates, including repairs to flood-damaged structures and electrical facilities.
Akinderu-Fatai, however, acknowledged persistent challenges facing the housing sector, including land encroachment, litigation and inflationary pressures, but assured residents that the state government remained committed to improving housing delivery and strengthening partnerships with private developers.
