Lagos, Nigeria – The Lagos State Housing Commissioner, Moruf Akinderu-Fatai, announced that Lagos is working to attract foreign investment to support its affordable housing projects. He shared this at the 2024 World Urban Forum in Cairo, Egypt.
In his keynote speech, Akinderu-Fatai talked about Lagos’s fast growth and its focus on sustainable development, especially Goal 11 of the Sustainable Development Goals. He point out the state government’s efforts to tackle housing problems, improve infrastructure, and regenerate urban areas to make the city more livable.
The commissioner talked about different ways to increase affordable housing, including working with financial institutions to offer affordable mortgage options. These efforts are meant to reduce the housing shortage and help more low- and middle-income people find decent homes.
Akinderu-Fatai also shed light on ongoing urban regeneration projects in areas such as Ilasan, Ikota, Makoko and Ajegunle. These projects aim to revitalize these neighborhoods and improve the quality of life for residents.
To further accelerate affordable housing development, the state government is actively seeking low-cost, long-term funding from international investors. This investment will be crucial in supporting low-income earners and ensuring the sustainability of Lagos’s urban development.
Dr. Abiodun Olumide, the Commissioner for Physical Planning and Urban Development, also participated in the forum, addressing concerns about the state government’s demolition of buildings without due process. He clarified that such actions are taken against structures built without necessary planning approvals, emphasizing the importance of adhering to state planning laws. By attracting foreign investment and implementing innovative housing solutions, Lagos State aims to create a more inclusive and sustainable urban future for its growing population.
