Connect with us

News

Why Lagos State’s Housing Deficit Persists Despite Ongoing Construction Boom

Published

on

18 Views

By Dennis Isong

A housing deficit refers to a situation where there is an insufficient supply of housing units to accommodate the population’s housing needs.

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.

Lagos has become a magnet for people seeking economic opportunities, leading to an influx of migrants from other regions and countries.

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Why Dantata will be buried in Saudi Arabia tomorrow

Dantata, 94, an uncle of Africa’s richest man Aliko Dangote, is survived by three wives, 21 children and 121 grandchildren.

Published

on

By

9 Views

Business mogul and philantrophist Aminu Dantata, is set to be buried tomorrow (Tuesday) in Medina, Saudi Arabia after he died on Saturday in the United Arab Emirates.

Sources closed to the family disclosed that it was Dantata’s wish to be buried in a city he adored and where Islam’s prophet Muhammad lived and died.

Dantata, 94, an uncle of Africa’s richest man Aliko Dangote, is survived by three wives, 21 children and 121 grandchildren.

His body was set to be transferred from Abu Dhabi, where he died, to the holy city of Medina after Saudi authorities approved his burial in their country.

Background and Wealth

He was known across Nigeria for his philanthropic activities.

Last year, he donated 1.5 billion naira ($972,000; £710,000) to victims of the devastating floods in north-eastern Borno state.

His business interests cut across agriculture, real estate, construction and manufacturing.

He first made his name in agriculture, starting trading kola nuts and groundnuts in the 1940s.

He came from a business family – his father Alhassan Dantata was once considered to be the richest man in West Africa.

Despite his riches, Dantata lived in one of the poorest areas of the northern city of Kano, like his parents before him.

His influence was also felt in politics, with politicians eager to seek his blessings before elections.

Continue Reading

News

ALLEGED DEFAMATION: ‎Court Grants Senator Akpoti-Uduaghan bail

Published

on

21 Views

… As Trial begins September 2

Nigerian Senator, Natasha Akpoti-Uduaghan has been arraigned at the Federal High Court in Abuja, over alleged defamation of Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello.

This is the second arraignment for similar charges, as she was also arraigned on June 19, 2025, at the Federal Capital Territory (FCT) High Court.

‎Like in the previous arraignment, the Kogi Central Senator has pleaded not guilty to what she is being accused of.

A six-count charge against her stems from statements she allegedly made during a live television broadcast on April 3, 2025, and in a telephone conversation on March 27, 2025.

‎The Federal Government, through the Attorney General’s office accuses Akpoti-Uduaghan of claiming that Akpabio and Bello conspired to orchestrate her assassination.

She is also accused of making statements regarding the alleged use of organs from a deceased individual for Akpabio’s wife.

The government contends that she made these imputations knowingly or with reason to believe they would harm the reputations of Akpabio and Bello, an act deemed to be criminal.

‎At her arraignment on June 19, she pleaded not guilty to all charges and was granted bail in the sum of N50 million with one surety. The prosecution had initially requested her remand in a correctional facility, which was opposed by her legal team.

‎At the Federal High Court, however, Senator Akpoti-Uduaghan has been granted bail on self-recognition, being a serving Senator. The judge, Muhammed Umar, then fixed September 22 for the start of trial.

‎Similarly, Akpoti-Uduaghan has also filed a suit challenging her six-month suspension from the Senate, and a ruling on that matter, along with contempt proceedings, is expected on July 4, 2025. Justice Binta Nyako of the Federal High Court is presiding over that particular case.

Continue Reading

News

NDLEA nabs drugs trafficking Ex-footballer

Investigation showed that the suspect was coming from Turkey on an Ethiopian Airlines flight but transited through Addis Ababa, Ethiopia, where he collected the luggage from another person before heading to Nigeria.

Published

on

By

30 Views

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested an ex-international football player, Segun George Hunkarin, along with his business partner Ntoruka Emmanuel Chinedu, over an attempt to smuggle a consignment of cocaine into Nigeria through the Murtala Muhammed International Airport,(MMIA) Ikeja, Lagos.

Chinedu, a frequent flyer known for transporting clothes from Turkey to Nigeria and foodstuffs from Nigeria to Turkey, was the first to be arrested upon his arrival at the Lagos airport on Tuesday, 24th June 2025.

Spokesman of the agency, Femi Babafemi, said, “A search of his carry-on bag revealed 37 wraps of cocaine weighing 800 grams were concealed therein.

“Investigation showed that the suspect was coming from Turkey on an Ethiopian Airlines flight but transited through Addis Ababa, Ethiopia, where he collected the luggage from another person before heading to Nigeria.

Further checks revealed that an accomplice, who turned out to be the former professional footballer Segun Hunkarin, was waiting for Chinedu at the airport carpark to collect the consignment from him.

“Hunkarin, who had stayed years in Brazil playing for football clubs, was promptly tracked and arrested at the carpark.“

In his statement, Hunkarin claimed that while playing professional football in the South American country, he had only trafficked drugs twice from Brazil to Ethiopia but had never brought any to Nigeria.

Continue Reading

Trending