Properties worth N118bn saved, N19.72bn lost in Lagos

In 2023 Lagos state reported that property owners collectively saved about N118 billion by avoiding mortgage defaults and taking advantage of government‑backed housing schemes, while the real‑estate sector suffered a loss of roughly N19.72 billion due to rising construction costs, delayed projects and a slowdown in foreign investment. The net effect was a modest overall gain for owners but a significant hit to developers and investors. Views Nigeria