News
Why Lagos State’s Housing Deficit Persists Despite Ongoing Construction Boom
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.
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News
Uzodimma to Editors: You should be held accountable for what happens to Nigeria
“The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”
Senator Hope Uzodimma, the Governor of Imo State, says the Nigerian media industry should be held accountable for what’s happening in the country and to its citizens, both positively and negatively.
“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect,” said Uzodimma.
In a keynote address , he delivered today during the 21st edition of the All Nigerian Editors Conference in Abuja.
Uzodimma, critique the theme, ‘Democratic Governance and National Cohesion: The Role of Editors,’ and a sub-theme: ‘Electoral Integrity and Trust Deficit: What Nigerians Expect in 2027,’ said : I will not let you escape accountability for electoral integrity, trust deficit, and what Nigerians expect in 2027.
Here is why. If you have a role to play in “Democratic Governance and National Cohesion,’ then you also have a role to play in ‘Electoral Integrity and Trust Deficit.’
Without electoral integrity, there can be no democracy. Electoral integrity begets democracy, and democracy begets good governance, and good governance fast-tracks the exorcism of trust deficit.
In all of these, your role as facilitator, amplifier, or catalyst is key.
“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect.”
He emphasised that what editors actually do is akin to a pastoral duty.
“You decide what becomes urgent and what disappears.
You choose the lens through which millions of Nigerians see their country, their leaders, and each other.
“That is how the media is structured. A policy shift is either “Government U-Turn” or “Strategic Adaptation.”
A land border closure is either “Economic Protectionism Impoverishing the People” or “National Security Imperative.” Same facts, different frames. Entirely different public perception.,” he said.
He added: ” You are not spectators in 2027. You are active participants. You are catalysts and facilitators, whether r you acknowledge it or not.
The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”
News
Editors demand 10-year corporate tax relief for the media industry
The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.
•President of the NGE, Mr Eze Anaba
The Nigeria Guild of Editors (NGE) is requesting for 10-year corporate tax relief from the federal government.
The guild presented their demand on Wednesday during the opening ceremony of the All Nigeria Editors Conference (ANEC) with the theme “Democracy, Governance and National Cohesion: The Role of Editors”, held at the State House Conference Hall, Abuja.
The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.
He emphasized that the economic situation in the country has forced some media houses to shut down, while some that struggle to operate cannot pay workers’ salaries.
The NGE boss also called for tax exemption, the establishment of low-interest loans for the media, and a digital transformation and innovation fund.
Anaba further proposed a Media Freedom and Safety Charter to protect journalists from a hostile environment.
News
Ethiopia wins bid to host 2027 COP32 climate summit
•Ethiopian Prime Minister Abiy Ahmed
Ethiopia has been selected to host the 32nd United Nations Climate Change Conference (COP32) in 2027.
Richard Muyingi, chair of the African Group of Negotiators (AGN), disclosed that Ethiopia’s bid was endorsed last week after the country resubmitted its expression of interest , beating Nigeria in a closely contested bid.
“The matter was discussed by the African group in a meeting last week, and Ethiopia was confirmed as the host of COP32,” Muyingi said.
The hosting of COPs rotates among global regions, with Africa due to host the summit in 2027.
The host country for COP31 is yet to be decided between Turkey and Australia.
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