Lagos’s New Affordable Housing Scheme: What You Need to Know in 2025

Lagos’s housing crisis is dire: a 5 million unit deficit, with 70% of its 20 million residents spending half their income on rent (source: Nigeria Property Centre, 2025). Enter the Lagos State Government’s 2025 affordable housing scheme, launched in May 2025 to deliver 10,000 units for low- and middle-income earners (source: BusinessDay). This initiative could transform lives in Nigeria’s costliest city, but how does it work?

This News article unpacks Lagos’s new affordable housing scheme for 2025, detailing eligibility, costs, locations, and application steps. Whether you’re a renter in Yaba, a buyer in Ikorodu, or an investor eyeing opportunities, this guide is your roadmap to homeownership.

Table of Contents

• What Is the Lagos Housing Scheme?

• Who Can Apply?

• Costs and Payment Plans

• Key Locations for 2025

• How to Apply

• Why This Scheme Could Change Lagos

1. What Is the Lagos Housing Scheme?

Announced in May 2025, this ₦50 billion scheme, funded by Lagos State and private partners, aims to build 10,000 affordable homes by 2026 (source: Vanguard). Offering 1–3 bedroom flats at 50% below market rates, it targets Nigeria’s 22 million housing deficit, starting with Lagos’s 5 million gap.

Why It’s Big: Rents rose 15% in 2024, pricing out many. This scheme offers hope for affordability.

2. Who Can Apply?

Eligibility:

• Lagos residents (5+ years, verified by LASRRA ID).

• Monthly income: ₦50,000–₦250,000 (low- to middle-income).

• Age: 21–60.

• No prior government housing ownership.

Example: Funmi, a 30-year-old teacher earning ₦90,000/month in Surulere, qualified for a 1-bedroom flat after registering her LASRRA ID.

Tip: Get a LASRRA ID online (lasrra.lagosstate.gov.ng, ₦2,000 fee, 5-day processing).

3. Costs and Payment Plans

Costs:

• 1-bedroom: ₦3M–₦5M (vs. ₦8M market rate).

• 2-bedroom: ₦5M–₦8M (vs. ₦15M).

• 3-bedroom: ₦8M–₦12M (vs. ₦20M).

Payment Plans:

• 10% down payment (e.g., ₦300,000 for a ₦3M flat).

• 5–10 year mortgages at 6% interest via Lagos Mortgage Board.

• NHF loans available for contributors (6% interest).

Example: Tunde, a nurse, paid ₦500,000 down for a ₦5M 2-bedroom in Epe, with ₦45,000/month repayments over 10 years.

Tip: Explore NHF options for lower rates (see our investing guide).

4. Key Locations for 2025

Areas:

• Ikorodu: 3,000 units, budget-friendly, 40 minutes from Lagos Island.

• Badagry: 2,000 units, near tourism hubs like Whispering Palms.

• Epe: 2,500 units, growing suburb near Lekki.

• Sangotedo: 2,500 units, 15 minutes from Lekki Phase 1.

Example: Aisha, a tech worker, chose a ₦4M 1-bedroom in Sangotedo for its proximity to her Lekki office.

Tip: Tour units virtually via PropertyPro.ng (free) to save time.

5. How to Apply

• Register: Visit lagoshoms.ng (₦5,000 application fee).

• Submit Documents: LASRRA ID, 3 years’ tax clearance, payslips (₦10,000 processing fee).

• Select Unit: Choose location and size online or at Lagos HOMS offices.

• Pay Deposit: 10% via bank transfer or Lagos Mortgage Board portal.

Timeline: Applications open June 15, 2025; first units ready by December 2025.

Example: Chidi, a civil servant, applied online in 20 minutes, securing a ₦3M Ikorodu flat with a ₦300,000 deposit.

Tip: Verify agents with LASRERA to avoid scams (see our land law guide).

6. Why This Scheme Could Change Lagos

Impact:

• Affordability: Homes at half market rates ease rent burdens (₦1.5M/year in Lekki).

• Economy: 20,000 construction jobs by 2026 (source: BusinessDay).

• Stability: Homeownership for 10,000 families, reducing informal housing (60% of Lagos).

Challenges: With 1M+ eligible Lagosians, demand may outstrip supply. Scaling to 50,000 units by 2030 is critical, requiring ₦200 billion more.

What’s Next: Governor Sanwo-Olu plans to expand to Ogun border towns by 2027, per ThisDay.

Seize Your Chance for Affordable Housing

Lagos’s 2025 affordable housing scheme is a rare opportunity for renters, buyers, and investors. This News guide equips you to apply before slots fill up. Share it to help others own their dream home!

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