Lagos State Governor, Mr. Babajide Sanwo-Olu, on Tuesday, 10 December, 2024, said his administration is committed to creating an ecosystem that supports the economic growth of the State through real estate, which plays a critical role in the development and growth of Lagos.
Governor Sanwo-Olu, disclosed that the State is set to introduce an integrated, effective and efficient waste management system in collaboration with international partners.
The Governor and other stakeholders spoke on Tuesday, 11 December, 2024 at the 5th Lagos Real Estate Marketplace Conference and Exhibitions held at Eko Hotel and Suites, Victoria Island, Lagos.
The conference is an avenue created by the Lagos State Real Estate Regulatory Authority (LASRERA) to provide an enabling environment and transparent platform for stakeholders in the real estate sector.
Speaking during the conference, Governor Sanwo-Olu said his administration is committed to building a thriving real estate sector.
He said, “As a government, we remain steadfast in our efforts to building a thriving real estate sector by prioritising human capital development, to ensure we have skilled professionals capable of driving innovation. We are equally committed to establishing sustainable regulations that protect practitioners and consumers alike while fostering an integrated ecosystem that links housing development with transportation, technology, agriculture, health, and youth development.
“We consistently draw inspiration from global trends and best practices to inform our policies and programs. Today’s distinguished speakers, moderators, and panellists bring invaluable insights, and we are confident that their contributions will enrich our collective vision for the real estate sector.
“We understand that the pace of change is accelerating, and partnerships with private sector players are essential. This forum is an opportunity to co-create pathways for upskilling and reskilling the workforce while ensuring the sector’s accessibility and sustainability.”
Governor Sanwo-Olu also disclosed his administration’s commitment to collaboration and progress in the real estate sector is yielding positive results.
He said his administration, based on the recommendations from the 4th Marketplace held in 2023, has made considerable strides in establishing a comprehensive developer database to enhance transparency, reducing bureaucracy in development permits to streamline processes, and implementing various measures to improve safety and consumer protection.
“Our ongoing initiatives reflect our determination to integrate sustainability into every facet of real estate development. From investing in renewable energy to advancing intermodal transportation systems, promoting technology-driven urban planning, and delivering sustainable housing solutions, we are laying the groundwork for a Lagos that balances economic growth with environmental responsibility and social equity.
“Achieving a sustainable future is not a task for the government alone—it requires collective action. Public-private collaboration is critical for driving innovation, financing sustainable projects, and creating inclusive regulations. It also ensures that opportunities for growth and contribution are accessible to all, including women, youth, and marginalised communities.
“As we deliberate on the future of real estate in Lagos, let us commit to equipping ourselves and our successors with the knowledge, tools, and resources to build a state that is equitable, prosperous, and sustainable.”
Speaking earlier, the state Commissioner for Housing, Hon. Moruf Akinderu-Fatai, said the Babajide Sanwo-Olu administration has strengthened its framework to ensure sustainable urban development and will ensure continuous policies and upgrades of existing laws while also increasing enforcement and capacity building.
“As we re-imagine Lagos, let us commit to embracing and strengthening the regulatory frameworks that will guide us toward a resilient, inclusive, and vibrant city.
“Every architect, developer, financier, policymaker and citizen has a role to play in this journey. Together, we can create a Lagos where progress meets purpose and development respects the delicate balance of nature and community,” he said.
Also speaking, the Special Adviser to the Governor on Housing, Barr. Barakat Odunuga-Bakare, described the event as an assembly of experts to drive sustainable growth, innovation, inclusivity, and sustainable development practices. She called for collaboration between the public and private sectors towards ensuring resilient physical landscapes for Lagos State.
Odunuga-Bakare said the real estate sector remains a significant pillar of Lagos State’s socio-economic development, providing employment opportunities, enhancing urban infrastructure, and driving economic growth.
She said the Lagos State Government has strengthened its regulatory frameworks through enhanced building codes, disaster-resilient urban planning, and initiatives to promote the use of sustainable building materials and technologies.
The Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa; Chairman of the House of Representatives Committee on Housing and Habitat, Hon Abdulmumin Jibrin; and the Ooni of Ife, Oba Adeyeye Ogunwusi, among others, during their remarks commended the Babajide Sanwo-Olu administration for its commitment to the housing and real estate sectors.
During the event there were different panel sessions on Integrating Green Building Standards in Lagos Real Estate, Flooding and Ecosystem Preservation in Urban Landscapes, Protecting Lagos Physical and Natural Resources, among others.
