The African Democratic Congress (ADC) Lagos gubernatorial candidate, Gbadebo Rhodes-Vivour, has proposed taxing luxury property developments and vacant buildings to generate funds for affordable housing in the state.
Rhodes-Vivour disclosed this while outlining how he intends to finance his proposed 100,000 housing units in Lagos East, saying the measures could generate substantial revenue for social housing over three years.
Rhodes-Vivour made the disclosure on Monday in response to an X user who asked how he intended to finance a housing programme of that scale and source the land, questioning whether he planned to rely solely on Lagos State’s federal allocation.
According to him, the proposed tax on luxury developments could generate about ₦100 billion within three years, while owners of vacant properties, particularly in Ikeja, Victoria Island, Ikoyi and Lekki, would also be taxed to encourage them to put the buildings to use.
“We will also guarantee financing for the Lagos state mortgage institution to provide the necessary liquidity to back affordable housing projects,” he said.
Beyond property taxation, Rhodes-Vivour said his administration would tackle government waste and corruption, arguing that funds currently spent on questionable expenditures could be redirected towards housing.
To support his argument, he cited about ₦1.3 trillion spent on miscellaneous expenses and consulting fees by the Lagos State Government between 2021 and the third quarter of 2025.
He also alleged that the state spent ₦19 billion on refreshments, entertainment, hospitality, honoraria and sitting allowances in the first six months of 2026.
He further cited ₦601 billion spent on Special Duties Expenses between 2021 and 2024, noting that the figure was separate from the ₦102 billion spent by the Ministry of Special Duties and Inter-Governmental Relations between 2021 and the third quarter of 2025.
“More damning is the ambiguity of some of the expenses in the miscellaneous expenses. For example, total spending on “Special Duties Expenses” hit ₦601 billion in just four years,
between 2021 and 2024.
“These expenses are entirely different from the spending of the Ministry of Special Duties and Inter-governmental relations, which hit ₦102 billion between 2021 and Q3 2025,” the NDC candidate added.
Rhodes-Vivour said more than ₦500 billion could be redirected towards housing over three years through measures to reduce waste and curb corruption.
He added that his administration would guarantee financing for the Lagos State Mortgage Institution to provide the liquidity needed to support affordable housing projects.
The guber candidate maintained that increased investment in housing would not only address the shortage of affordable homes but also stimulate economic growth, create jobs and improve economic activities across the state.