The Lagos State Government has pledged to protect home seekers from exploitative landlords, promising strengthened regulatory oversight, enhanced transparency, and consumer safeguards within the real estate sector.
The government explained that the initiative aims to shield tenants from unfair practices, noting that it is part of a broader effort to create a fair, transparent, and accountable real estate market where home seekers can secure affordable and safe housing.
Governor Babajide Sanwo-Olu made the promise on the first day of the 6th Lagos Real Estate Marketplace Conference & Exhibition, organized by the Lagos State Real Estate Regulatory Authority (LASRERA) and held at the Eko Convention Center, Victoria Island.
Speaking at the event, themed “Shaping the Future of Lagos Mega City: Infrastructure Investment, Innovation, and Affordable Housing,” Sanwo-Olu emphasized the state’s commitment to strengthening the real estate sector through strategic regulatory reforms.
He explained that these reforms are not designed to stifle market activity but to create a robust, transparent, and professional environment where all stakeholders, buyers, investors, and developers, can operate with confidence.
Sanwo-Olu noted that through LASRERA, Lagos is actively promoting consumer protection, enforcing industry standards, and ensuring accountability, thereby fostering a credible real estate market where buyers are safeguarded, investors are assured of returns, and developers can compete fairly on a level playing field.
“And we take the point that we need to also look for other investment outlets, so that we need to be very creative, you know, and to see that it shouldn’t be the regular, you know, cash-backed or cash transaction where you need to do 100% of any procurement or any purchase all at once.
“So these are some of the recommendations, and I’m sure LASRERA and all of our local, you know, real estate players need to bring on board and need to be able to see this as the way forward, you know, that is done internationally,” the governor said.
Sanwo-Olu emphasized that Lagos is redefining the concept of affordable housing, stressing that it is neither a slogan nor an act of charity. Instead, affordable housing is a serious economic sector that demands scale, innovative design, blended financing solutions, and robust public-private partnerships.
In Lagos, he said, affordability means creating homes that residents can genuinely live in, afford, and access—situated close to workplaces and community amenities where families can thrive.
Reiterating the critical importance of investor confidence, Sanwo-Olu emphasized that opportunities alone are not enough to attract sustainable investment, noting that investors also require clear assurances of security, transparency, and integrity.
The Governor highlighted that the state governs with integrity, continually strengthening its security architecture through advanced technology, improved intelligence systems, enhanced manpower, and coordinated multi-agency collaboration.
He stressed that safety, stability, and the rule of law are non-negotiable pillars of Lagos’ investment environment, providing a solid foundation for growth.
With these measures in place, he noted, the opportunities before investors in Lagos are both vast and promising, while reaffirming that Lagos remains one of the safest, most stable, and best-governed investment destinations in Africa.
According to him, “Lagos is Africa’s largest urban economy. It is a city of builders, innovators, and risk-takers. It is a city where real estate is not just an asset class but a catalyst for jobs, local manufacturing, professional services, and long-term wealth creation.
“But opportunity must be matched with responsibility. As we build upwards and outwards, we must build sustainably. As we attract capital, we must protect communities. As we modernize skylines, we must preserve the social fabric of our city,” he said.
“To our local developers: Lagos believes in you. To our international partners: Lagos is open, ready, and serious. To regulators and professionals: your role is indispensable. And to every stakeholder here today: the future of Lagos is not something government can deliver alone, it is something we must build together,” Sanwo-Olu added.
Reacting to the partnership ties, the Commissioner for Housing, Moruf Akinderu-Fatai, highlighted that the conference underscored the importance of global collaboration, with international delegates attending from Boston, Dubai, Saudi Arabia, Ghana, Uganda, Taiwan, Canada, and other regions. Their participation, he said, reflects Lagos’ rising global profile and growing potential in urban development.
Akinderu-Fatai emphasized that partnerships are central to Lagos’ urban transformation, facilitating knowledge exchange, innovation, and strategic investment. Collaboration spans key sectors including infrastructure, housing, spatial planning, and civic engagement to ensure that development is functional, inclusive, and sustainable.
