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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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Nigerian Born US based Music Star, Tunde Success, to launch new album ‘Cornerstone’

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Nigerian Born US based Music Star, Tunde Success, to launch new album ‘Cornerstone’

The City of Philadelphia would be set agog on 17th May, 2025, as the creative and Nigerian born music star, Tunde Success is launching new album that day.

According to the information made available to us, the launching of ‘Cornerstone’ the new effort of handsome and dark Tunde Success is taking place at Philly in suites, 4444 City Avenue Philadelphia P A 19131.

The epoch making event is proudly sponsored by the Star Lager beer. To make the event a memorable one, Mama D Catering would supplied hot Amala on the spot, while Amazing Grace Catering is going to tantalize the event with jolly rice and shawarma.

The red carpet interview would be anchored by 360 Delight Creation.

While speaking about the event, Tunde Success, a multiple awards winning singer, however, promised to make the day, a moment of joy, entertainment and plenty faajis for all the guests. He also enjoined all his fans to come out enmass to support him.

Nigerian Born US based Music Star, Tunde Success, to launch new album 'Cornerstone'

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Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

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Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

The Alaketu-designate of Ketu Land in Epe Local Government Area of Lagos State, Prince Adekoya Babajide Adefowora, on Wednesday, paid a historic visit to the Ooni of Ife, Arole Oduduwa Ooni Adeyeye Enitan Ogunwusi, Ojaja II, at his palace in Ile-Ife.

The visit, which is a significant step in his journey to the throne, was marked by the royal father’s blessings and prayers for a peaceful and prosperous reign.

This comes after the formal presentation of Prince Adefowora, who hails from the Ateshimara Ruling House, by the traditional authorities of Ketu Land on Tuesday, February 18, 2025.

His visit underscores the deep-rooted ancestral ties between Ketu Land and Ile-Ife, reaffirming the sacred traditions that bind Yoruba monarchs to their spiritual and historical source.

Prince Adefowora was accompanied to the Ooni’s palace by prominent members of his family, high-ranking chiefs, and kingmakers from Ketu Land, all of whom played key roles in his selection and endorsement as the next Alaketu.

Speaking at the palace, Prince Adefowora described his visit as a homecoming and an essential part of his ascension process.
have come home to pay homage to my father, the Ooni of Ife. My deep love for my people motivated me to accept the call to the throne of Ketu. This journey is not just about me; it is about upholding our rich heritage and leading my people towards greater progress,” he said.

Addressing controversies surrounding his ascension, he condemned attempts by some individuals to manipulate the process with fraudulent documents.

I am aware of certain fraudulent documents being submitted by some individuals to the authorities. I use this opportunity to urge them to desist from such illegal activities. The Supreme Court has already affirmed my right to the throne, and I call on the government to thoroughly investigate this matter. It is crucial for everyone to respect the rule of law and uphold due process,” he stated.

On the delay in filling the Alaketu throne after the demise of the previous ruler, Prince Adefowora explained that Yoruba tradition necessitates a period of transition.

“In Yoruba tradition, when a king joins his ancestors, a period of interregnum is observed before selecting a successor. This allows the community time to reflect, ensure stability, and make the right choice for the future. My people made their choice long ago, and today, they have formally presented me to our ancestral father, the Ooni of Ife. I am honored to have received Kabiyesi’s blessings,” he added.

In his response, the Ooni of Ife congratulated Prince Adefowora on his journey to the throne and prayed for a successful reign filled with peace, wisdom, and development for Ketu Land.

You are about to embark on a sacred duty, one that requires wisdom, patience, and commitment to the welfare of your people. I pray that your reign brings prosperity, unity, and growth to Ketu Land. May the ancestors guide you, and may your leadership be marked by justice and progress,” the Ooni prayed.

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Unity in Generosity : Prophet Genesis Unites Faiths at Ibafo Ramadan Lecture (See Video) – Alhaji Arems

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Unity in Generosity : Prophet Genesis Unites Faiths at Ibafo Ramadan Lecture (See Video) – Alhaji Arems

 

On March 12, 2025, during a spirited Ramadan lecture in Ibafo, Prophet Genesis once again demonstrated that faith and generosity know no boundaries. In a moment captured on video that has since resonated with audiences far and wide, the Prophet called an elderly woman to the stage. With warmth and conviction, he declared, “Mama, I’m the one people have blessed with this cash – open up your bag, and you can as well get extra nylon bags – take it all.” He went on to reassure her that his personal driver and security team would ensure she got home safely, eliminating any worries about carrying the money.

The heartfelt gesture was part of a lecture themed “Truthfulness brings success,” a mantra that clearly underpins Prophet Genesis’ approach to ministry. Notably, he reiterated that his annual Ramadan gatherings are unique in that he never collects money. According to the Prophet, God has made it clear that accepting money on these occasions would sever his divine connection—a conviction that has guided his practice for years.

What makes this event particularly striking is its interfaith significance. Held during Ramadan—a time when millions of Muslims around the world are fasting—the lecture underscored Prophet Genesis’ commitment to inclusivity. His actions sent a powerful message that genuine compassion and kindness transcend religious labels, uniting communities in shared celebration and mutual respect.

In a world often divided by differences, Prophet Genesis’ demonstration of unconditional generosity and his call for truthfulness serve as a reminder of the unifying power of faith and goodwill.

Watch Video Here : https://vm.tiktok.com/ZMBY9RPus/

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