Anthony_Analyst

Fantastic question. The issue of sourcing land comes with very little challange. There is enough land in Lagos East to accommodate well over the 100,000 housing units that we propose. But to the more important issue about funding. First, my administration will curb the waste and corruption that has redirected public funds to private pockets. For instance between 2021 and Q3 2025 alone, about ₦1.3 trillion was spent by the state government on “miscellaneous expenses” and “consulting fees” In the last 6months, Lagos state has spent N19 billion on refreshments, entertainment, hospitality, honoraria, and sitting allowances within the first six months of 2026 More damning is the ambiguity of some of the expenses in the miscellaneous expenses. For example, total spending on “Special Duties Expenses” hit ₦601 billion in just four years, between 2021 and 2024. These expenses are entirely different from the spending of the Ministry of Special Duties and Inter-governmental relations, which hit ₦102 billion between 2021 and Q3 2025. This is just one aspect. In the same period the state has spend almost 400 billion on “professional fees” and entertainment. I’d stop just here. The point is, we can redirect over 500 billion of government spending towards housing by curbing corruption and waste over a theee year period. Secondly, I intend to introduce a tax on luxury developments that will directly fund social housing. My team estimates that we can raise about 100 billion in three years. I also intend to tax vacant buildings, particularly those in Ikeja, Victoria Island, Ikoyi, and Lekki. The idea is to encourage owners to put such properties in the market or pay a tax that will directly fund social housing. We will also guarantee financing for the Lagos state mortgage institution to provide the necessary liquidity to back affordable housing projects. We will also significantly raise government spending on housing because it not only provides shelter and dignity, construction is a huge stimulant for the economy which will create thousands of meaningful job opportunities and improve spending in the economy. #Ourlagos