Lagos Real Estate Crisis: Substandard Housing and the Fast Money Mentality

Lagos Real Estate: A Critical Look at Substandard Housing and the Pursuit of Quick Profits LAGOS, NIGERIA—The Nigerian real estate market faces significant challenges, according to a recent interview with a leading industry expert. The expert, who wishes to remain anonymous, highlighted the prevalence of subpar construction, inadequate worker training, and a focus on rapid profits over quality. "They want fast money and then they want to blame the government," he stated. This practice, he argues, leads to issues like the lack of adequate leisure spaces in major cities like Lagos. The expert cited specific examples of substandard plumbing and roofing in newly constructed buildings. He also criticized the lack of proper training programs for construction workers, stating that many receive only minimal instruction before starting work. He contrasted this with training standards in other countries, emphasizing the need for improvement in Nigeria. The interview concluded with a call for greater accountability within the industry, urging developers to prioritize quality and ethical practices. While acknowledging the government's role, the expert stressed that developers bear primary responsibility for improving standards. The lack of proper training and widespread substandard construction represent significant obstacles to improving the quality of life for Nigerians.