Babajide Sanwo-Olu has reaffirmed the commitment of the Lagos State Government to expanding access to affordable housing finance, describing housing as a key driver of economic growth and social stability in the state.
Eko Hot News reports that the governor made this known during the 21st Annual General Meeting of Lagos Building Investment Company (LBIC) Plc held in Ikeja.
Represented by the Commissioner for Housing, Moruf Akinderu-Fatai, Sanwo-Olu commended the Board, Management, and Shareholders of LBIC for their resilience and dedication despite prevailing economic challenges.
According to the governor, LBIC has continued to play a vital role in promoting inclusive housing development through mortgage financing, stressing that housing remains more than a social necessity.
He noted that the sector creates employment opportunities and supports small businesses across the housing value chain, thereby contributing significantly to economic development in Lagos State.
The administration also emphasised that solving the housing deficit requires stronger collaboration between the public and private sectors, calling for sustained partnerships with institutions like LBIC to deepen access to sustainable housing finance.
Sanwo-Olu further encouraged the mortgage institution to embrace technology and innovative financial products to reach underserved residents and expand access to homeownership opportunities.
The governor expressed optimism that resolutions reached at the AGM would further strengthen LBIC’s operations and position the institution for greater impact in the coming years.
Lagos Building Investment Company remains one of Nigeria’s leading primary mortgage banks, established to provide mortgage support for low-cost housing schemes and promote accessible homeownership in Lagos.
