DELIVERY AND SERVICES ACROSS SOUTHWEST NIGERIA
Lagos Housing Deficit Hits 3.4 Million as Government Turns to Private Developers”
The state would need approximately 227,576 additional housing units every year, requiring about ₦6 trillion in annual capital investment.
by Builtangle
9/20/20261 min read
According to reports, the Lagos State Government is increasingly looking to public-private partnerships (PPPs) to address the state's estimated 3.4 million-unit housing deficit.
According to the state's Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, Lagos would need approximately 227,576 additional housing units every year, requiring about ₦6 trillion in annual capital investment.
The commissioner also said Lagos' property price-to-income ratio is 19.2 times, compared with a five-times benchmark for severe housing unaffordability.
The government identified emerging economic corridors including Epe, Badagry and Ikorodu, while Julius Berger Nigeria's Managing Director, Peer Lubasch, pointed to continued expansion along the Lekki–Epe and Lagos–Ibadan corridors.
Market Watch:
For developers and landlords, the figures underline the scale of Lagos' housing challenge — but also the importance of where affordable housing is delivered and whether infrastructure keeps pace with new development.
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