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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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APC Ondo North Primary: Reports Show ATM in Early Lead

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Reports from the field in Ondo North Senatorial District indicate that voters, officers, and agents at the voting centers across the wards have put Abdul Tunji Mohammed (ATM) in the lead.

According to the current figures collated from the centers, ATM is polling with wider margins of votes

Going by these figures, ATM is poised to win all the six Local Government in the Senatorial Districtt.

We urge all party members and supporters to remain peaceful as collation continues.

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Senate Leader Opeyemi Bamidele Hosts Ondo North Aspirant Abdul Tunji Mohammed, Backs Grassroots Development Agenda

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Senate Leader Opeyemi Bamidele recently hosted Chief Abdul Tunji Mohammed (ATM), a prominent aspirant for the Ondo North senatorial seat.

The meeting highlighted a strategic alignment between progressive forces, with both leaders emphasizing a shared vision for grassroots development and legislative excellence.

Senator Bamidele, a respected figure in Nigerian politics, is recognized for his contributions to national cohesion and impactful policymaking, drawing on his experience as a legal luminary and human rights activist.

Chief Mohammed, an astute businessman and dedicated grassroots mobilizer, has made a notable impact on Ondo North through his philanthropic work and commitment to constituents’ welfare. His approach blends corporate discipline, economic ingenuity, and a deep concern for people—qualities that have reshaped the region’s political narrative.

The two leaders discussed the district’s critical needs, exploring avenues for socioeconomic growth, legislative reform, and stronger community integration. Senator Bamidele stressed the importance of supporting President Bola Ahmed Tinubu’s Renewed Hope Agenda, a sentiment echoed by Chief Mohammed.

The convergence of Chief Mohammed’s vision with Senator Bamidele’s legislative experience offers hope for Ondo North. This synergy between grassroots ambition and seasoned mentorship points to a promising future for the district’s representation in the Senate. With ATM’s drive and the guidance of leaders like Senator Bamidele, Ondo North is positioned for progress and transformative governance.

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2027 Ondo North Senate: ATM secures Backing of Monarchs, Chiefs

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APC Senatorial aspirant for Ondo North, Abdul Tunji Mohammed, popularly known as ATM, received a resounding endorsement on Thursday during a high-profile visit to Ikare-Akoko.

The endorsement came from the Olukare of Ikare, His Royal Majesty Oba Akadiri Momoh IV, the Owa Ale of Ikare, His Royal Majesty Oba Adeleke Adedoyin, and the Ikare Council of Chiefs, who described ATM as a credible son of the soil with the capacity to represent Ondo North effectively at the Senate.

Speaking at the palace, the Olukare commended ATM for his consistent engagement with the people and his track record in business and community development. “We have watched your contributions to Ondo North over the years. You are one of us, and we believe you have the experience and character to speak for our people in Abuja,” the monarch said.

The Owa Ale, in his remarks, stressed the need for unity and quality representation. He urge him to continue the help to the people at home that he’s doing. He urged other stakeholders to support aspirants with proven commitment to the district’s progress, noting that Ikare and Akoko land require strong voices at the National Assembly.

In his response, Abdul Tunji Mohammed thanked the monarchs and chiefs for their blessings and trust. He reaffirmed his commitment to prioritize infrastructure, education, healthcare, youth empowerment, and agricultural development if elected.

“Ikare is central to Ondo North, and your support strengthens my resolve to serve with integrity and results. I will not betray this trust. My campaign will remain issue-based, and my representation will reflect the hopes of our people,” ATM stated.

The visit was marked by prayers, cultural displays, and solidarity from party leaders, youth, and women groups across Ikare-Akoko.

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