In response to the growing gap in housing demand in relation to the available accommodation, the Lagos State Government has reiterated its commitment to increase the number of available houses.
A release signed by the Honourable Commissioner for Housing, Mr. Moruf Akinderu-Fatai, said the present administration is pursuing the agenda of housing provision with increased vigour to ensure that more homes are available to the people of the State before the end of the year.
In his words, “We are engaging multinationals along with other MDAs to build and support the financing of vertical buildings in the State. This is the viable option given the fact that land is a limited resource in Lagos”.
“With the rate of population explosion in the State, meaningful impact can only be achieved through maximisation of our scarce land by the construction of high rise buildings and we are making progress in our discussions with some international organisations”, he said.
Akinderu-Fatai also disclosed that State Housing Schemes located in Odo-Onosa Ayandelu, Agbowa, Sangotedo Phase I, Gbagada and Omole Phase I will be delivered to the people very soon.
Speaking further, the Commissioner disclosed that the cited projects, which are being financed through direct budgetary allocation, are specifically for the benefit of low and middle income earners.
He said, “The State government is working tirelessly to deliver the ongoing housing schemes so that the low and middle-class Lagosians can also come on the homeownership ladder”.
This, according to him, will be accomplished through a convenient mortgage system since a larger percentage of the homes shall be allocated on the Rent-to-Home Scheme, whereby the tenure of payment will be spread over 120 months after the initial payment of five per cent of the value of the homes by the allottees.
The Commissioner also pointed out that Lagos is also subsidising the cost of the homes to reduce the barrier to homeownership, despite the increased cost of building materials occasioned by the current inflationary trend in the country.
“The Governor of the State, Mr. Babajide Sanwo-Olu has insisted that the cost of homes built by the State should be lower than the market price so as to make homeownership easier for the people”, he stated.
While noting that the housing schemes being constructed through direct budgetary allocation include Egan-Igando, LASU, Ita-Marun in Epe and Ajara, he clarified that although these schemes were inherited from previous administrations, the State Government is committed to their speedy delivery and commissioning for the benefit of the people.
Akinderu-Fatai said, “In line with the T.H.E.M.E.S Agenda, housing provision is pivotal to the transformation of the lives of the people. Provision of decent homes is actually the bedrock of making Lagos a 21st Century economy”.
The Permanent Secretary, Mr. Wasiu Akewusola, remarked that an additional number of homes will be made available before the third anniversary of the present administration through Joint Ventures or partnerships with private investors.
“A lot of incentives have been put in place to encourage private sector participation. These include infrastructural development and technical support to ease the task and enhance quick completion of the projects”, he added.
Akewusola averred that the joint venture schemes are sited at Ilubirin, Ilamoye-Isolo, Ijora-Badia and Ibeshe. Others Joint Ventures by the Lagos State Development and Property Corporation include Iconic Towers in Victoria Island, Channel Point Apartments Ogudu, Davilla Court and Ilupeju Gardens.
Recall that the State Government, under the leadership of Governor Babajide Sanwo-Olu has commissioned housing schemes at Igando, Igbokushu, Lekki Phase I, Lekki Phase II, Idale, Badagry, Iponri and Igbogbo amongst others.