Lagos State Has 2.4 Million Housing Deficit – Report

A report on the ‘state of the Lagos Housing Market, 2016’ by the Igbinoba Real Foundation for housing and urban development has revealed that Lagos State has housing deficit of 2.4 million.

The founder of Prison Housing, Roland Igbinoba, disclosed this at a pre- event media briefing to announce April 29th as the launch date of the second edition of the state of Lagos Housing Market 2016, a comprehensive real estate report on Lagos.

He said the methodology used in arriving at the figure was simple because the Nigerian Bureau of Statistic had put the growth of housing at three per cent.

He explained that the report which used a mixture of random and convenient sampling, provides residential real estate information from housing micro finance to luxury cities and would be useful for foreign investors, the academia, and government for social housing investment, planning amongst other.

According to him, the report was put together largely by the effort of prime players in the real estate business, regretting the lack of cooperation from government quarters which hinders the provision of data on some important area of the report.

“When you try to complement the functions of an agency of government, the kind of rebuff you get is mind boggling. But there has to be some support but they prefer to keep everything and ends up keeping nothing. For instance, how many approvals are in process and the area of approvals being sought in the land registry? These are information that are not going into that report because we could not get them,” he said.

He however said the report has also remained the focal point to all stakeholders seeking reliable data that would help them make strategic decisions in the sector.