From left: Ministry of Lands, Housing and Urban Development, Cabinet of Uganda, Judith Nabakooba; Representative of Lagos State Governor Moruf Akinderu-Fatai; former Vice President of Nigeria, Prof Yemi Osibajo SAN and Minister for Defence, Alhaji Mohammed Badaru Abubakar, at the 75th World Real Estate Congress in Lagos

Lagos Governor Babajide Sanwo-Olu has reaffirmed the commitment of his administration to continuously addressing major challenges confronting the real estate sector with vibrant innovative solutions.

The Governor stated this during the 75th World Congress of the International Real Estate Federation at the Eko Hotels and Suites Victoria Island, Lagos, with the theme; “Global Real Estate Renaissance”.

Sanwo-Olu, who was represented by Commissioner for Housing, Moruf Akinderu-Fatai, said the theme of the event speaks to the transformation that the real estate sector is undergoing worldwide, which is being driven by innovation, sustainability, and inclusive urban development.

He said his administration recognises housing as a fundamental pillar of economic growth, and is addressing the multifaceted impact of housing on livelihoods, job creation, and social stability.

The governor emphasised that in the past years, the state government has implemented impactful initiatives to scale up affordable housing deliveries, with varieties of approaches.

He said: “Our multi-pronged approach includes dedicated budgetary allocations targeting low- and middle-income earners, alongside fostering a business environment that encourages private sector participation through Public-Private Partnerships. These efforts have delivered nearly 10,000 housing units over six years, with plans to complete over 14,000 more by 2026.”

These initiatives, according to him not only improve affordability but also enhance quality of life, generate employment, and stimulate the broader economy.

He assured the participants that Lagos offers immense investment opportunities and is committed to adopting global best practices and sustainable development models that will attract more global partnerships towards achieving the housing and urban development goals.

President Bola Tinubu was represented by the Minister for Defence, Alhaji Mohammed Badaru, while Professor Yemi Osinbajo was the keynote speaker at the Congress, holding in Lagos, for the first time on African soil.