Lagos State Commits to Affordable Housing Finance Expansion

During the 21st annual general meeting of the Lagos Building Investment Company PLC held in Ikeja on May 5, 2026, Lagos State Governor Babajide Sanwo-Olu reaffirmed the state's commitment to expanding access to affordable housing finance. He described housing as a critical driver of economic growth and social stability.

Sanwo-Olu commended the board, management, and shareholders of the mortgage institution for sustaining operations despite prevailing economic challenges. He emphasized that the government alone cannot address the state's housing deficit and called for stronger collaboration with financial institutions and private sector stakeholders to deepen access to home ownership.

The governor urged companies to embrace technological innovations to improve access to mortgage services, particularly for underserved residents. He expressed confidence that the Lagos Building Investment Company would continue to grow and succeed in providing mortgage facilities for low-cost housing schemes in Lagos State, evolving as Nigeria's primary mortgage bank focused on expanding access to housing finance solutions.