By Rukayat Adeyemi
Lagos, Dec. 10, 2024
Mr. Moruf Akinderu-Fatai, the Commissioner for Housing in Lagos State, has called for a recalibration of the state’s regulatory systems to effectively reimagine and transform the Lagos landscape.
Akinderu-Fatai, made the call at the fifth edition of Lagos Real Estate Marketplace Two-Day Conference and Exhibitions in Lagos, with the theme: ‘Reimagining Lagos Landscape: The Critical Role of Regulations in Sustainable Real Estate Development’.
He noted that the recalibration was necessary to address the gaps and challenges in the existing regulatory landscape.
Akinderu-Fatai also said that, in spite of the significant progress made in strengthening these frameworks, further adjustments were required to ensure sustainable urban development and effective governance.
“Lagos is a city of boundless energy and opportunities, a melting pot of cultures, and a hub for innovation and commerce.
“However, it is also a city grappling with the challenges of rapid urbanisation, housing deficits, and environmental vulnerabilities.
“The current regulatory landscape in Lagos include, Lagos State Urban Regional Planning Law, building control permit through LASBCA, Tenancy Laws, Environmental Regulations, among others,” he said.
According to him, the calibrated regulations would address continuous policy review and update of existing laws to address emerging trends such as green building standards, renewable energy integration, and smart city technologies.
The commissioner said that the reformed regulations would also strengthen monitoring and enforcement mechanisms to ensure that all stakeholders adhere to approved plans and standards.
He said that the regulations would equip regulatory agencies with the resources, training, and technology needed to perform their duties efficiently.
Akinderu-Fatai noted that it would also streamline approval processes for building permits, and certifications to reduce delays while maintaining rigorous oversight.
The commissioner explained that it would foster collaboration among government agencies, developers, financial institutions, and community members to build consensus on regulations and their benefits.
The updates regulations, he said, would adopt digital platforms for land registration, permit issuance, and compliance monitoring to enhance transparency and reduce corruption.
According to him, regulations are not barriers, but enablers of orderly growth, protectors of shared environment, and guarantors of a sustainable future.
“Regulations are the foundation of a well-ordered society, and in the real estate sector, they play an even more critical role.
“They set standards for development and ensure that projects meet safety, quality, and sustainability benchmarks as well as protect lives and investments.
“Regulations also ensure fairness and inclusivity and address affordability and equitable access to housing, bridging the gap between socio-economic groups,” he said.
According to him, with clearly outlined regulations, the state can foster investor confidence.
This, he said, is achievable through clear and enforceable regulations which will create a predictable environment that will encourage both local and foreign investments.
“As we strive to reimagine the Lagos landscape, regulations must take center stage in guiding sustainable real estate development.
“Every architect, developer, financier, policymaker, and citizen has a role to play in this journey.
“Together, we can create a Lagos where progress meets purpose and development respects the delicate balance of nature and community,” the commissioner added.
In a keynote address, Prince Akintoye Adeoye, President, Real Estate Developers Association of Nigeria (REDAN), said sustainability must be recognised as not just about environmental stewardship, but about creating cities that are resilient.
This, he noted, should also be inclusive, and capable of supporting the needs of all residents.
According to Adeoye, Lagos State has the potential to once again lead the way in sustainable urban development in Africa, seeking an example for other cities to follow.
He said: “Let us be bold in our vision, determined in our actions, and united in our commitment to building a sustainable Lagos State.
“A city where innovation, equity, and environmental responsibility come together to create a thriving metropolis for all.”
