… as Special Adviser Woos investors at BRG Developers Summit in Morocco
The Special Adviser to the Lagos State Governor on Housing, Barr. Barakat Odunuga-Bakare, has reiterated the need for bold policy reforms to unlock Nigeria’s housing market and close the chronic supply-demand gap that continues to challenge the sector.
Speaking at the BRG Developers Summit 2025, 3.0, ongoing in Morocco, Odunuga-Bakare said the government must shift from being perceived as an obstacle to becoming a true enabler of private sector-led housing delivery.
Delivering her keynote address on the theme, “Government as Enabler or Obstacle? Policy Reforms Needed to Unlock Nigeria’s Housing Market Potential,” the Special Adviser highlighted critical areas requiring urgent reforms, including the Land Use Act, taxation policies, and incentives for affordable housing.
She noted that the Land Use Act of 1978 has created bottlenecks in land ownership, registration, and titling, delays that raise transaction costs and discourage investors.
She explained that the Lagos State Government, under Governor Babajide Sanwo-Olu, is addressing these challenges through innovations such as the Lagos State Geographic Information System (LAGIS), designed to digitalise land registries and accelerate approvals.
On taxation, Odunuga-Bakare stressed that VAT and multiple levies on building materials increase construction costs and limit affordability.
She disclosed that the State Government is harmonising fees through the Lagos Revenue Portal (LRP) to improve transparency and encourage private investment in affordable housing.
She further emphasised the importance of Public-Private Partnerships (PPP) in bridging the housing deficit, citing Lagos’ initiatives such as LagosHoms and Rent-to-Own schemes.
The Special Adviser assured that the government is creating standardised PPP frameworks, promoting local building materials, and implementing subsidy programmes to enhance affordability.
“The real estate sector is not just about land and property transactions; it is about creating an enabling environment, shaping lives, and building a sustainable future. To unlock housing potentials, policies must move from regulatory dominance to enabling private investment through transparent reforms and workable incentives,” she said.
Odunuga-Bakare reaffirmed that Lagos State remains committed to fostering a housing market that is attractive to investors while meeting the aspirations of its citizens for affordable and decent homes.