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Why Lagos State’s Housing Deficit Persists Despite Ongoing Construction Boom by Dennis Isong

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Why Lagos State's Housing Deficit Persists Despite Ongoing Construction Boom by Dennis Isong

Why Lagos State’s Housing Deficit Persists Despite Ongoing Construction Boom by Dennis Isong

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That A housing deficit refers to a situation where there is an insufficient supply of housing units to accommodate the population’s housing needs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Why Lagos State's Housing Deficit Persists Despite Ongoing Construction Boom by Dennis Isong

 

 

 

 

 

 

 

This shortage of housing can result in issues such as overcrowding, homelessness, rising property prices, and limited access to affordable and suitable housing for individuals and families.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The term is often used in discussions about urban planning, real estate, and housing policy to highlight the gap between housing demand and supply in a given area.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lagos State, Nigeria’s economic and cultural powerhouse, has witnessed a surge in construction activity over the past decade. Skyscrapers and residential buildings have sprung up across the city, seemingly indicating progress and development.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

However, beneath this facade of growth lies a persistent issue: the growing housing deficit. Despite the construction boom, Lagos State continues to grapple with an increasing shortage of affordable housing. In this article, we will explore five key reasons why this housing deficit persists amid the ongoing construction activity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Rapid Urbanization and Population Growth

 

One of the primary drivers of the housing deficit in Lagos State is the rapid urbanization and population growth. Lagos has become a magnet for people seeking economic opportunities, leading to an influx of migrants from other regions and countries.

 

This constant population surge far outpaces the rate at which new housing units are being built, exacerbating the gap between supply and demand.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2. High Construction Costs

 

While construction activity is booming in Lagos, the high cost of building materials and labor has a cascading effect on housing affordability. Builders face escalating expenses, which are often transferred to potential homeowners through higher property prices. As a result, many Lagosians find themselves priced out of the market, perpetuating the housing deficit.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3. Insufficient Infrastructure Development

 

The rapid construction of buildings in Lagos has not been matched by an equivalent investment in infrastructure development. Essential amenities like roads, water supply, sewage systems, and public transportation are struggling to keep up with the expanding city. This lack of infrastructure diminishes the appeal of newly constructed areas, hindering their potential for affordable housing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4. Land Ownership and Land Use Regulations

 

Lagos State’s complex land ownership and land use regulations further compound the housing deficit. Disputes over land ownership and inefficient land allocation processes can delay construction projects and deter potential investors. Moreover, unclear land tenure systems can discourage individuals from investing in real estate, leaving large swaths of land underutilized.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Limited Access to Financing

 

Access to affordable financing options remains a significant barrier to homeownership in Lagos State. High-interest rates on mortgage loans and a lack of financial instruments designed to support affordable housing contribute to the housing deficit. Many individuals and families simply cannot secure the necessary funding to purchase a home, even when properties are available on the market.

 

 

 

 

 

 

 

 

 

 

 

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

 

 

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OTUNBA WASIU JAIYEOLA BAGS TASUED’S DOCTORATE DEGREE

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OTUNBA WASIU JAIYEOLA BAGS TASUED’S DOCTORATE DEGREE

 

In recognition of his impactful contributions to clothing and textile industry in Ogun state in particular and Nigeria in general, the Governing Council of Tai Solarin University of Education, ijagun is set to honour the Founder of Wessy Creations, Otunba Jaiyeola Wasiu, with the Doctor of Science, D.sc Ed (Honoris causa) in Textile and Clothing.

The letter of conferment of the award dated September 30, 2024 with reference number TASUED/REG.122/VOL.1/006 and signed by the Vice-Chancellor of the institution, Prof. Oluwole Banjo, indicated that: “The Award is in recognition of your passion for education, and numerous contributions to the advancement of human race in general.”

The letter reads further: “The University takes special recognition of your numerous professional achievements and community services, including your exemplary leadership roles in our Nation as an elder statesman whose modest achievements and accomplishments represent the idea of integrity and selflessness, which our University stand for.
“The University joins well-meaning Nigerians in celebrating your humble, worthy, and outstanding legacies in the service of humanity.
“We also congratulate you and your family on your many notable achievements in life”.

The conferment ceremony is slated for Thursday, 28th November, 2024 at the School Auditorium in Ijagun, Ijebu-Ode, Ogun State.

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Family Pleads With FG to save brother in South African prison

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Family Pleads With FG to save brother in South African prison

Family Pleads With FG to save brother in South African prison

 

The family of a Nigerian businessman, Olatunji Abdul, imprisoned in South Africa, has called on the Nigerian government and the Chairperson of the Nigerians in Diaspora Commission, Mrs Abike Dabiri-Erewa, to intervene and save his life urgently.

The family, at a press conference on Thursday at Ikeja, alleged that Olatunji, a businessman and humanitarian, who has been held in a South African prison since 2019, is a victim of false charges allegedly orchestrated by state agents and xenophobic business rivals and that he is facing imminent danger.

PUNCH Metro gathered that through a petition submitted by the founder of Zarephath Aid, Ben Abraham, an international criminal justice organisation, the family narrated the ordeal of the Osun State-born entrepreneur.

 

Abdul, who relocated to South Africa in 2009, established himself as a prominent figure in the hospitality and tourism sectors.

According to the family, as the founder and CEO of Hydro Club, a leading hospitality consultancy in Johannesburg, he provided employment opportunities for Nigerians and supported businesses, students, and tourists in the diaspora.

However, his family believes his success made him a target for xenophobic competitors and corrupt officials.

 

Olatunji’s brother, Sesan, revealed that in 2019, these forces allegedly initiated a scheme, called “#DestroyAbdul,” aimed at destroying his reputation and business ventures.

Sesan claimed that this led to his wrongful arrest, denial of bail, and coercion into providing false confessions.

“In 2020, Olatunji was convicted on charges of theft and sentenced to 15 years in prison, a sentence his supporters insist was based on fabricated evidence.’

“Despite being granted leave to appeal his sentence in November 2024, Abdul is said to be facing further challenges as his efforts to secure legal representation for his appeal have been thwarted.

 

“Several lawyers have reportedly withdrawn from his case due to threats and intimidation, leaving him to represent himself in court,” he said.

His family further stated that his situation is worsening, with fears of poisoning in prison and the confiscation of his laptop, which he needed for legal preparation.

The family, along with Zarephath Aid, appealed to the FG to act swiftly to prevent Olatunji’s death.

 

“If nothing is done, we risk losing a man who has brought pride to Nigeria and significantly contributed to the Nigerian diaspora.”

The petition reads. “Abdul is not a criminal; he is a victim of a malicious plot to destroy him.”

Olatunji’s physical and emotional health has reportedly deteriorated.

His family added that without intervention, his life remains in grave danger.

“This is not just about Abdul,” said Ben Abraham of Zarephath Aid. “It is about protecting Nigerians abroad who face unjust persecution despite their positive contributions.

 

“Abdul is an example of what Nigerians can achieve, and he deserves the protection of his country,” he said.

“Abdul is not just a businessman; he is a father, a son, and a role model for Nigerians in the diaspora. Nigeria must act now to bring him home,” the family stated.

 

 

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How Visiting US-based Nigerian bought nine drugs before death 

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How Visiting US-based Nigerian bought nine drugs before death 

How Visiting US-based Nigerian bought nine drugs before death

 

The Ogun State Police Command on Thursday said it found nine different drugs and medications in the hotel room of the visiting US-based 51-year-old Sunday Abidoye whose lifeless body was discovered at the Creestar Hotel room, GRA, Sagamu, on Wednesday.

The command’s spokesperson, SP Omolola Odutola, disclosed this in a statement on Thursday to confirm Abidoye’s death.

Odutola explained that the Chief Security Officer of the hotel, one Mr Oluwole, reported the incident regarding the discovery of the deceased customer to the police, five days after his arrival from the United States of America.

She said on receiving the report, a team of detectives visited the scene and on arrival, found the body of the deceased already placed inside a car outside the hotel, being prepared to be taken to the morgue by his family.

 

Odutola said that the deceased’s brother, Jimoh Godday, residing in Imota, Lagos State, informed the police team that his brother had arrived in Nigeria from the USA on Saturday, November 16, 2024.

 

She explained further that Godday said he had called at the hotel on Monday and knocked on Room 109, where his brother was staying, but got no response after which he requested a spare key from the manager to enter the room, where they discovered his brother’s lifeless body.

Odutola said, “Photos were taken, and various drugs and traditional medicines were recovered from the room.

 

“The centre of the bed was soaked with a liquid-like substance. A friend of the deceased, Ogunmonti Ogunwole, confirmed that he accompanied his friend, Sunday, to purchase nine different types of medication the previous day due to his complaints of illness.

“The body has since been evacuated to OOUTH morgue in Sagamu for an autopsy.

“No known cause of death yet, and the case will be transferred to the State Criminal Investigation Department for discreet investigation.”

 

 

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