By Ebunoluwa Sessou

The Nigerian Society of Engineers (NSE) has officially flagged off the NSE–Lagos State Development and Property Corporation (LSDPC)–Locke Homes Joint Venture Development Project, marking a significant step in efforts to promote sustainable infrastructure and housing delivery in Lagos State.

The launch, held on Friday, December 19, 2025, in Lagos, was described as a major milestone for the engineering profession and a testament to effective collaboration between professional bodies, government and the private sector.

Speaking at the event, the President of the Nigerian Society of Engineers, Engr. Margaret Aina Oguntala, FNSE, expressed gratitude to the Lagos State Government for allocating the plot that made the project possible, noting that the gesture reflects confidence in the capacity of Nigerian engineers to deliver projects of enduring value.

According to her, the development aligns with the ongoing infrastructure transformation in Lagos and reinforces the role of engineers in driving sustainable urban growth. She also commended the Board and Management of NSE Ventures Limited, alongside project partners Lagos State Development and Property Corporation and Locke Homes, for their professionalism and perseverance in bringing the initiative to fruition.

Oguntala stressed that as the project enters the implementation phase, all professionals involved must adhere strictly to global best practices, with quality, safety, sustainability and sound engineering standards guiding every stage from design through construction to completion.

She noted that the joint venture forms part of the deliberate strategy of the Nigerian Society of Engineers to contribute to reducing Nigeria’s housing deficit, describing housing as a critical pillar of national development, economic growth and social stability.

The NSE President added that the project represents only the beginning of the Society’s broader plans in the housing and real estate sector, calling on governments at all levels, private sector players and development partners to support similar initiatives aimed at achieving sustainable urban development.

In her concluding remarks, Oguntala attributed the milestone to collective resolve and commitment within the engineering community and formally declared the commencement of physical construction works on the project.

Also, the Chairman of Nigerian Society of Engineers Ventures Limited, Engineer Femi Dosunmu, said the project was designed to provide engineers with a platform to participate in structured business ventures beyond core engineering practice. He noted that Nigeria faces a housing deficit of about 17 million homes, with Lagos accounting for a large share of the demand.

According to Dosunmu, the project comprises 18 units of 12-floor terrace apartments, being executed through a joint venture arrangement with funding partners who have already released funds. He said construction is ongoing and the project is expected to be completed within 24 to 30 months.

He added that pricing for the housing units is yet to be determined due to fluctuations in construction costs, but stressed that mortgage facilities would make the homes accessible to qualified buyers from the general public.

In her contribution, Vice President (Asset Management) of NSE, Engineer Rachel Serumum Ugye FNSE, described the project as a major milestone, noting that the land was acquired over 30 years ago but is only now being developed through strategic partnerships. She assured that the project would meet the highest professional and safety standards, with oversight from relevant regulatory bodies.

Also speaking, Chairman of NSE Victoria Island Branch, Babatunde James, said the development would strengthen the society’s finances and enhance its capacity to support branches and community-based initiatives, expressing optimism that the project would be completed successfully.