Lagos Recovers ₦277m From Fraudulent Property Deals, Expands Housing Stock to 10,623 Units

Lagos Combines Housing Expansion With Stronger Real Estate Regulation

The Lagos State Government says it has recovered more than ₦277 million from fraudulent real estate transactions while expanding its housing stock to 10,623 units as part of broader efforts to address the state’s housing deficit and improve regulation within the property market. The disclosure highlights the state’s dual strategy of increasing housing supply while intensifying enforcement against fraudulent activities in the real estate sector.

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Commissioner for Housing Moruf Akinderu-Fatai announced the figures during the annual ministerial press briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja. According to the commissioner, the recovered funds were secured through the intervention and regulatory enforcement activities of the Lagos State Real Estate Regulatory Authority (LASRERA).

Lagos Intensifies Crackdown on Property Fraud

The Lagos property market has faced persistent challenges linked to fraudulent land transactions, fake property listings and unregistered estate agents. According to the Housing Commissioner, LASRERA received 505 petitions relating to tenancy disputes and fraudulent real estate activities between 2025 and 2026. Out of these cases, the agency reportedly resolved 39 disputes and recovered approximately ₦270 million from fraudulent operators.

State authorities said enforcement efforts have intensified, particularly regarding compliance with Lagos’ directive that estate agency fees must not exceed 10 per cent of annual rent. The government has repeatedly warned residents against dealing with unregistered property agents and encouraged greater use of verified real estate professionals.

The latest recovery figures reflect growing government intervention aimed at improving transparency and consumer protection within Nigeria’s largest real estate market.

Housing Stock Expands to 10,623 Units

Alongside its anti-fraud campaign, the Lagos State Government disclosed that housing stock across the state increased to 10,623 units over the past seven years. According to officials, 4,414 units were delivered through direct government funding, while 6,209 units were completed through Public-Private Partnership (PPP) arrangements.

The commissioner said recently completed projects include the 420-unit Akinsanya Sunny Ajose Estate Phase I and the 233-unit Abraham Adesanya Housing Estate Joint Venture Scheme. These projects increased the number of completed estates delivered under the Babajide Sanwo-Olu administration to 23 since 2019.

Government officials added that five additional housing schemes currently under construction in Egan-Igando, Sangotedo, Ibeshe, Itamarun in Epe and Ipaja are expected to be completed before the end of 2026.

Lagos Targets Over 14,000 Housing Units

The state government projects that ongoing housing developments will increase Lagos’ housing stock to approximately 14,022 units by the end of 2026. Officials said the projects form part of broader efforts to address the state’s estimated housing deficit of more than 3.3 million units, driven largely by rapid urbanisation, population growth and migration into Lagos.

Akinderu-Fatai noted that Lagos remains the epicentre of housing demand in Nigeria and that government intervention remains necessary to expand access to affordable homes for low- and middle-income residents.

The commissioner also referenced broader global housing challenges, citing UN-Habitat estimates showing that approximately 3.4 billion people worldwide lack access to secure and adequate housing.

Public-Private Partnerships Drive Housing Delivery

The Lagos State Government said Public-Private Partnerships continue to play a major role in housing delivery across the state. Officials stated that private developers participating in government-backed schemes benefit from simplified approvals, financing support, tax incentives and regulatory collaboration.

Housing analysts note that PPP arrangements have become increasingly important as rising construction costs, inflation and infrastructure pressures make large-scale housing delivery more financially challenging for governments operating independently.

Industry stakeholders also argue that private-sector participation is essential to reducing Nigeria’s housing deficit, which remains one of the largest in Africa.

Monthly Rental Scheme and Tenancy Reforms Underway

In addition to expanding housing stock, the Lagos government disclosed that it is finalising plans for the pilot phase of a monthly rental payment scheme aimed at reducing the burden of annual rent payments on residents, particularly low-income earners.

Officials also confirmed that a new tenancy bill currently before the Lagos State House of Assembly seeks to strengthen rental regulation, mandate compulsory registration for estate agents and accelerate tenancy dispute resolution processes.

The proposed reforms are part of wider efforts to formalise the property market and improve accountability within Lagos’ real estate sector.

Housing Sector Generates Employment Opportunities

The commissioner disclosed that housing projects across Lagos generated approximately 4,793 direct and indirect jobs over the past year, while estate facility management operations created an additional 888 jobs.

Government officials said ongoing housing investments continue to support artisans, engineers, suppliers, surveyors and other professionals connected to the construction and property sectors.

The state also confirmed that rehabilitation works are ongoing across 52 government housing estates, including repairs to flood-damaged structures and electrical facilities.

Outlook

Lagos’ recovery of ₦277 million from fraudulent property transactions alongside the expansion of housing stock to 10,623 units reflects the state government’s broader attempt to combine housing delivery with stronger market regulation. As housing demand continues to rise across Lagos, authorities appear increasingly focused on balancing affordability, consumer protection and private-sector participation within the real estate sector.

While challenges such as land disputes, inflation, infrastructure deficits and rapid urbanisation persist, the government maintains that ongoing housing projects, tenancy reforms and anti-fraud enforcement measures will continue to shape Lagos’ long-term housing and urban development strategy.

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