Lagos State Governor, Babajide Sanwo-Olu, has reiterated his administration’s commitment to expanding access to affordable housing finance as part of efforts to drive economic growth and social stability.
Sanwo-Olu made this known at the 21st Annual General Meeting (AGM) of the Lagos Building Investment Company (LBIC) Plc. held in Ikeja.
Represented by the Commissioner for Housing, Moruf Akinderu-Fatai, the governor commended the board, management and shareholders of LBIC for their continued dedication to promoting affordable housing through mortgage financing.
He noted that despite economic challenges and changing market realities, the institution had remained resilient in supporting inclusive housing development across Lagos State.
“Housing is not just a social need; it is an economic driver that creates jobs and supports small businesses across the value chain,” he said.
The governor stressed that government alone could not address the nation’s housing deficit and called for stronger collaboration with credible financial institutions to improve access to sustainable housing finance.
He also urged LBIC to adopt technology-driven solutions and innovative products aimed at reaching underserved segments of the population.
According to him, such initiatives align with the institution’s 2026 priorities of strengthening digital capabilities and expanding retail lending.
Sanwo-Olu expressed confidence that decisions reached at the AGM would further position LBIC for greater impact and long-term growth.
LBIC, one of Nigeria’s leading primary mortgage banks, was established to provide mortgage facilities for low-cost housing schemes in Lagos State and has continued to play a key role in promoting home ownership through innovative housing finance solutions.