Hamzat Says Lagos Workers Need Mortgages, Not Cash-and-Carry Housing

Lagos Deputy Governor Obafemi Hamzat says home ownership cannot work like buying rice or yam, where buyers are expected to pay the full amount at once. Speaking on a radio programme, he argued that workers need mortgage and rent-to-own options that spread housing costs over several years. Lagos faces a housing deficit estimated at more than 3.3 million units, while rents and property prices continue to rise faster than many salaries. Although the state has delivered homes and operated mortgage schemes, many residents still struggle with deposits, paperwork, unit prices and access to affordable repayment plans. The key question is whether the government can build enough genuinely affordable homes and make mortgage access easier for ordinary earners. Without that, many Lagos workers may remain tenants despite years of paying rent.

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