75th Real Estate Congress: Osinbajo Speaks as Experts Proffer Solutions to Africa's Housing Deficit

• At the 75th Real Estate Federation World Congress in Lagos, Hon. Moruf Akinderu-Fatai, representing Governor Sanwo-Olu, emphasised that housing is a vital pillar of economic growth
• Former Vice President Yemi Osinbajo also highlighted the role of real estate professionals in building resilient, inclusive communities, calling for joint action to solve housing deficits
• The international congress, hosted in Africa for the first time, showcased Lagos as a hub for global investment and sustainable urban development

Victoria Island, Lagos - The Lagos state commissioner for housing, Hon. Moruf Akinderu-Fatai, has stated that housing is a fundamental pillar of economic growth, highlighting the multifaceted impact of housing on job creation, livelihoods, and social stability.

Akinderu-Fatai made this assertion during the 75th Real Estate Federation World Congress held at the Eko Hotel Banquet Hall last week in Victoria Island, Lagos.

The event, which had in attendance Prof Yemi Osinbajo, former president of Nigeria, and Governor Babajide Sanwo-Olu of Lagos State, who was represented by the State Commissioner for Housing, Hon. Moruf Akinderu-Fatai

In the statement made available to Legit.ng on Thursday, June 19, the commissioner emphasised the importance of housing in enhancing the means of livelihood.

"We recognise housing as a fundamental pillar of economic growth and are addressing its multifaceted impact on job creation, livelihoods, and social stability,” he said.

The commissioner highlighted the Sanwo-Olu-led administration’s multi-pronged housing strategy, including increased budgetary allocations for low- and middle-income earners and strong support for Public-Private Partnerships (PPPs).

His words:

“These efforts have delivered nearly 10,000 housing units over the past six years, with plans to complete an additional 14,000 by 2026."

He also reaffirmed Lagos State’s openness to global investment and its commitment to adopting best practices for sustainable urban development.

Osinbajo delivers key keynote address

According to the statement, Professor Osinbajo, in his keynote, emphasised the critical role of real estate professionals, describing them as “visionaries and architects of society.”

“You are called to lay the foundation for everything; communities that are resilient, inclusive, and alive with opportunity. Your work doesn’t just create spaces, it creates future,” he said.

He presented global housing statistics, diagnosed the underlying challenges, and emphasised that solving the housing deficit must be a shared responsibility between government and industry practitioners.

Osinbajo’s presentation laid the intellectual foundation for many discussions that followed.

FIABCI Africa President's remark

The President of FIABCI Africa and Near East Region, Adeniji Adele, in his closing remarks, called the congress a defining moment for the global property community and a proud milestone for Nigeria.

The statement reads

“For the first time on African soil, delegates from over 70 countries gathered to explore investment, innovation, and sustainability in real estate,” Adele said.

He praised Lagos for positioning itself as a future-forward investment hub, where local developers connected with global stakeholders, sparking new partnerships and reigniting conversations about smart urban growth.

“This congress not only boosted investor confidence but also showcased Lagos’ capacity to host world-class events, thereby enhancing its profile as a global city,” he added.

The statement further revealed that a visit to Oniru of Iru, Oba Gbolahan Lawal, is among the key highlights of the event.

The event hosted over 200 delegates from 60 countries, combining thought-provoking sessions with high-level networking opportunities.

“We are proud to have been part of this landmark event, capturing every moment and milestone from start to finish,” said one enthusiastic participant.

As the curtains drew on the two-day congress, it was clear that the event had successfully deepened collaboration between the public and private sectors, while elevating the conversation on sustainable real estate development across Africa.

Real estate experts visit Sanwo-Olu

Legit.ng reported earlier that as anticipation builds for the 75th World Real Estate Congress, board members of the International Real Estate Federation (FIABCI) Nigeria paid a courtesy visit to Governor Sanwo-Olu to reaffirm the state’s readiness to host the historic event.

The report explained the reason Lagos state was chosen for the event.

Lagos chosen due to development in housing sector According to a statement from the organisers, Lagos was chosen for its rising prominence in global real estate conversations, bolstered by its urban development agenda and strategic positioning as a commercial hub in West Africa," the sreport stated.

Source: Legit.ng