The Lagos State Government has raised concerns over Nigeria’s worsening housing crisis, warning that the country’s housing deficit could climb to nearly 28 million units if current intervention efforts are not accelerated.
The Commissioner for Housing, Hon. Moruf Akinderu-Fatai, disclosed that findings by the National Housing Data Technical Committee, inaugurated by the Federal Ministry of Housing and Urban Development, placed Nigeria’s official housing deficit at 14.925 million units.
Over 15 Million Homes Classified as Substandard
According to the commissioner, the challenge extends beyond the housing shortage, as an additional 15.2 million homes across the country have been identified as structurally defective or substandard.
He explained that when the number of inadequate housing units is combined with the existing deficit, Nigeria’s effective housing gap rises to nearly 28 million units.
Akinderu-Fatai warned that the growing deficit poses significant threats to economic development, urban planning, infrastructure delivery, and social stability across the country.
Lagos Remains the Epicentre of Housing Demand
The commissioner noted that Lagos State continues to experience the highest housing demand in Nigeria due to its rapidly expanding population and economic opportunities.
With an estimated population exceeding 17.8 million residents and an annual population growth rate of approximately 3.8 per cent, Lagos remains under intense housing pressure.
He attributed the challenge to rapid urbanisation, continuous rural-to-urban migration, and limited land availability within the state.
Independent estimates place Lagos State’s housing deficit at more than 3.3 million units, with the shortage particularly pronounced among low- and middle-income earners.
Affordable Housing Remains a Major Challenge
Akinderu-Fatai stressed that affordability remains one of the biggest barriers to homeownership for many Nigerians.
He explained that demand for affordable housing continues to outpace supply, especially in urban centres where rising construction costs and land prices have pushed housing beyond the reach of many households.
Federal Government Expands Housing Finance Initiatives
The commissioner highlighted several Federal Government interventions aimed at addressing the housing crisis.
Among them is the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which provides mortgage financing at a single-digit interest rate of 9.75 per cent and repayment tenures of up to 20 years.
According to him, such initiatives are designed to improve access to housing finance and support homeownership across different income groups.
Lagos Delivers Over 10,000 Housing Units
Akinderu-Fatai disclosed that the Lagos State Government has delivered 10,623 housing units over the past seven years through a combination of direct government investment and Public-Private Partnership (PPP) arrangements.
He added that ongoing housing projects across the state are expected to increase the number of delivered units to more than 14,000 before the end of 2026.
The commissioner reiterated the state government’s commitment to expanding affordable housing opportunities and reducing barriers to homeownership.
Housing Projects Driving Economic Growth
Beyond addressing accommodation needs, Akinderu-Fatai noted that housing developments have become a major driver of economic activity within Lagos.
He said investments in housing projects are creating employment opportunities, stimulating the construction sector, and boosting growth across the broader real estate value chain.
According to him, sustained collaboration between government and private sector stakeholders remains critical to closing the housing gap and ensuring access to decent, affordable housing for Nigerians.
