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Hamzat Faces Pressure on Housing Plans for Lagosians

Hamzat Faces Pressure on Housing Plans for Lagosians

Kadri Obafemi Hamzat, the current deputy governor of Lagos and the consensus candidate of the All Progressives Congress (APC), is campaigning for the governorship position in Lagos. With a background as Commissioner for Science and Technology and Commissioner for Works and Infrastructure, Hamzat has a reputation for innovation, having designed the Ikoyi Link Bridge.

As he engages with Lagosians, there is a pressing demand for him to articulate concrete plans for addressing the housing crisis in the state. Lagos faces a housing deficit of approximately 3 million units, with only 31 percent of its over 20 million residents being landlords.

The remaining 69 percent spend between 40 percent and 60 percent of their annual incomes on rent, with a rent-to-income ratio of about 70 percent, significantly exceeding the United Nations' benchmark of 30 percent. The rapid increase in rents, averaging 40 percent annually, exacerbates the situation, leading to public outcry as many residents struggle with rising living costs and inadequate infrastructure.

Plus234Feed summary based on reporting from BusinessDay. Read the original report below.

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