The Lagos State Government has expressed its dedication to solving the housing crisis in the state by providing more houses to residents of the state.
This disclosure was made in a statement signed by the state Commissioner for Housing, Mr. Moruf Akinderu-Fatai.
The commissioner said that the state would ramp up efforts to ensure that residents got more houses before the end of the year.
He said, “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.”
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Noting the areas where the housing units would be made available, Akinderu-Fatai said that the state would provide houses that will be located in Odo-Onosa Ayandelu, Agbowa, Sangotedo Phase I, Gbagada and Omole Phase I.
Regarding the project’s funding, the commissioner said that it was supported by direct budgetary allocation and would be targeted at 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.”
On the rent structure, Akinderu-Fatai said that they would be on a rent-to-home basis, with the payment tenure spread over a period of 120 months after a five percent down payment.
He added, “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.
“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.”
