The Lagos State Government has partnered with a private investor to inject about $500 million into the Illubirin Housing Scheme on Lagos Island.
To this end, the state government issued a seven-day ultimatum within which several shanties and illegal structures on the state’s waterfront should be demolished and removed without delay.
The state governor, Mr. Akinwunmi Ambode disclosed the state’s plan to bring private investment to Illubirin Housing Scheme when he visited the scheme alongside the Commissioner for Housing, Mr. Gbolahan Lawal among other members of the State Executive Council.
At the inspection, Lawal invalidated assumptions that the Illubirin Housing Scheme had been abandoned saying that the project has been remodeled to accommodate 500 housing units.
He disclosed that the state government had already collaborated with a private investor, which he said, would invest about $500 million into the scheme, noting that the state government “has perfected plans to make the scheme a live, play and work environment.”
Lawal explained that about five hectares would be dedicated for leisure, while there would also be commercial activities, as well as flyover which would be constructed.
