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Gov. Babajide Sanwo-Olu of Lagos State on Tuesday, December 16, 2025, called for sustained investment, innovation and inclusive housing delivery to secure Lagos’ future as Africa’s largest megacity.
Sanwo-Olu made the call while addressing the sixth Lagos Real Estate Marketplace Conference and Exhibition, organised by the Lagos State Real Estate Regulatory Authority (LASRERA).
He commended LASRERA for sustaining a credible platform “where ideas meet policy, capital meets opportunity, and vision meets implementation.”
“The theme of this year’s conference, focusing on infrastructure, innovation and affordable housing, could not be more timely,” the governor said.
Sanwo-Olu noted strong international participation, describing it as evidence of growing global confidence in Lagos as an investment destination.
“Lagos is no longer a city of potential; it is a city of performance.
“Our presence here shows Lagos continues to command the trust and interest of the international investment community,” Sanwo-Olu said.
The governor said Lagos was already comparable to leading global cities, noting it was often compared with entire countries.
“That tells you Lagos is already a mega African city. What we are doing now is shaping how that greatness is used, inclusive, and liveable for generations,” Sanwo-Olu said.
He stressed that housing remained central to Lagos’ development agenda, describing it as a matter of dignity, productivity and social stability.
“Housing is not just about buildings; it is about human dignity, economic productivity and the city we choose to become,” he said.
Sanwo-Olu said the state was investing in integrated infrastructure, including rail, roads and waterways, to support sustainable urban growth.
“We cannot build a 21st-century megacity on 20th-century planning assumptions.
“Our investments in transport, energy, climate resilience and housing are intentional and interconnected,” he said.
The governor disclosed plans to expand transport-oriented development and deploy electric ferries to cut emissions and commuting costs.
“Our waterways transportation system will increasingly rely on electric ferries,” he said.
Sanwo-Olu said regulation was being used to strengthen the property market, with LASRERA promoting transparency, professionalism and consumer protection.
“A credible real estate market protects buyers, sustains investor confidence and supports developers on a level playing field,” he said.
He highlighted technology-driven land administration, noting digitisation would reduce transaction time and curb illegal practices.
“We are embracing innovation, including artificial intelligence, to improve governance and solve real societal problems,” he said.
Earlier, Special Adviser on Housing, Mrs. Barakat Odunuga-Bakare, said the conference aligned policy, investment and innovation in Lagos’ real estate sector.
She said the sixth edition reflected the government’s commitment to a transparent, investor-friendly and people-centred property market.
“This conference deepens conversations on sustainable urban development, affordable housing and responsible investment,” Odunuga-Bakare said.
She added LASRERA would continue strengthening regulation, protecting consumers and promoting professionalism to boost confidence.
Keynote speaker, Dr Muiz Banire (SAN), urged stakeholders to prioritise sustainability, dignity and long-term planning in urban development.
“This is not ceremonial; it demands reflection on our journey and the legacy we intend to leave,” Banire said.
He said progress should be measured by quality of life, not merely by tall buildings or wide roads.
“What matters is whether structures are sustainable, habitable and dignified,” Banire added.
Banire described Lagos as “a paradox and a promise,” citing economic strength alongside pressures from population growth.
“Cities are built on systems: roads that connect, railways that endure, housing that humanises and institutions that enforce standards,” he said.
He said cities like Singapore, Dubai and London succeeded through deliberate planning beyond political tenures.
“They designed progress and protected it with long-term visions beyond political cycles,” Banire said.
The conference was attended by policymakers, developers, investors, international partners and Deputy Governor, Dr Obafemi Hamzat.
Participants deliberated on strategies for sustainable real estate development and inclusive urban growth in Lagos.
By Aderonke Ojediran
