Housing Sector as Driver of Economic Prosperity in Ogun State

From N3.5 trillion in 2019 to an estimated N16 trillion in 2025, Ogun State’s economy has experienced remarkable growth under the administration of Governor Dapo Abiodun. This impressive leap reflects the success of his administration’s comprehensive economic master plan, which focuses on human capital development and large-scale infrastructural transformation.

By strategically leveraging its “Gateway State” status, Ogun has rapidly become Nigeria’s preferred investment hub, particularly in the industrial and manufacturing sectors. Within the last four years, the state has attracted major foreign investments, including a $400 million partnership with Arise Integrated Industrial Platform for the development of the Olokola Free Trade Zone and Remo Agro Processing Zone.

A critical component of Ogun State’s ongoing economic transformation is its housing sector, which is playing a central role in fostering economic stability and growth. The Ministry of Housing, led by Commissioner Jagunmolu Jamiu Akande Omoniyi, has implemented innovative housing policies and projects that are reshaping both urban and rural landscapes across the state.

A seasoned mortgage banker and real estate developer, Omoniyi’s expertise has been instrumental in driving the state’s housing agenda. Having worked with Partnership Savings & Loans, Wema Homes, and Abbey Mortgage Bank, he rose to the position of Regional Executive Manager before founding C2Q Property & Investment Co. Ltd., a firm that previously helped deliver over 10,000 affordable homes to civil servants in Abuja.

Under his leadership, the Ogun State Ministry of Housing has delivered notable projects, including the Prince Court Estates at Kemta Idi Aba, Kobape, Sagamu, Ijebu Ode, Ilaro, and Iperu. Other ongoing housing initiatives transforming the state’s residential outlook include Kings Court Estate (Oke Mosan and Warewa), the Renewed Hope Housing Scheme (Abeokuta 1 & 2), PMB Estate (Kobape Road, Abeokuta), Ibara GRA Regeneration Scheme, and Ijebu Ode GRA Regeneration Scheme.

In total, over 4,230 housing units—spanning low-, medium-, and high-income categories—have been completed and allocated under the Dapo Abiodun administration. In line with the I.S.E.Y.A mantra (Infrastructure, Social Welfare, Education, Youth Empowerment, and Agriculture), the Ministry of Housing has introduced several incentives to make home ownership more accessible. These include land subsidies and interest-free mortgage facilities through Gateway Mortgage Bank.

Additionally, the ministry has reformed procurement processes to eliminate administrative bottlenecks, enforce quality standards, and reduce construction costs. This renewed vibrancy in the housing sector has spurred demand for building materials such as cement, wood, roofing sheets, and blocks—creating jobs and stimulating local economies.

Ultimately, the success of Ogun State’s housing policies has become a major driver of investment and economic prosperity, with private developers increasingly establishing estates across the state.

By Abayomi, Public Communicator, Akute, Ifo Local Government Area, Ogun State.