The Lagos State Commissioner for Housing, Mr. Moruf Akinderu-Fatai, has said that the state government is vigorously making efforts to bridge the housing gap with plans to make more homes available before the end of the year.
This was disclosed in a statement signed by the commissioner. 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 maximization of our scarce land by the construction of high rise buildings and we are making progress in our discussions with some international organizations,” he said.
He assured that housing schemes located in Odo-Onosa, Ayandelu, Agbowa, Sangotedo Phase I, Gbagada and Omole Phase I would be delivered to the people very soon.
The commissioner said the cited projects were being financed through direct budgetary allocation in the hopes of providing subsidised housing for low and middle-class Lagosians.
He noted that it would be done through a convenient mortgage system whereby the tenure of payment would be spread over 120 months after the initial payment of five per cent of the value of the homes by the allottees.
The Permanent Secretary, Mr. Wasiu Akewusola, remarked that an additional number of homes would be made available before the third anniversary of the present administration through Joint Ventures or partnerships with private investors.
Akewusola said, “A lot of incentives have been put in place to encourage private sector participation.
Akewusola said the joint venture schemes were sited at Ilubirin, Ilamoye-Isolo, Ijora-Badia and Ibeshe with other Joint Ventures by the Lagos State Development and Property Corporation including Iconic Towers in Victoria Island, Channel Point Apartments Ogudu, Davilla Court and Ilupeju Gardens.
Source: African Housing News