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Lagos Spends Under 2% Of N50bn Housing Budget Amid Rent Surge
['Ikenna Omeje']
The Whistler Newspaper
Similarly, the N12.83bn budgeted for the construction of LagosHOMS housing units at Ibeshe Phase II, Late Abdul-Wahab, recorded expenditure of N82.38m, amounting to 0.6 percent of the allocation.
The Ajara-Badagry LagosHOMS project received N74.15m out of its N6bn budget, representing 1.2 percent implementation.
AdvertisementAt Sangotedo Phase II, another LagosHOMS housing project with a N5bn allocation, recorded N93.96m in expenditure, representing 1.9 percent performance.
The Epe Housing Scheme, which received N4bn in the 2026 budget, recorded spending of N78.11m, translating to 2 percent implementation.
The low level of capital expenditure contrasts sharply with worsening housing affordability across Lagos.