Lagos govt engages multinationals to increase housing delivery

By Dada Jackson
Lagos State government has taken bold steps to upscale its housing delivery performance in response to the growing demand for accommodation in the state.
The state Commissioner for Housing, Hon. Moruf Akinderu-Fatai, dropped the hint in his office in Alausa, Ikeja
He said that the Lagos State Government was pursuing the agenda of housing provision with increased vigour to ensure that more homes for the people of the state before the end of the year.
His words: “We are engaging multinationals along with other MDAs to build and support financing of vertical buildings in the state. This is the viable option given the fact that land is a limited resource in the State.”
He added, “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 organisations.”
He also disclosed that state housing schemes located in Odo-Onosa Ayandelu, Agbowa, Sangotedo Phase 1, Gbagada and Omole Phase 1 would be delivered to the people very soon.
Speaking further, the commissioner said that the cited projects being financed through direct budgetary allocation were specifically for the benefit of low- and middle-income earners.
He said the state government was working tirelessly to deliver the ongoing housing schemes so that the low and middle class Lagosians can also come on the home ownership ladder.
This, according to him, would be accomplished through a convenient mortgage system since a larger percentage of the homes shall be allocated to the Rent-to-Home Scheme whereby the tenure of payment will 120 months after the initial payment of 5 per cent of the value of the homes by the allottees.
The commissioner pointed out that the Lagos was also subsidizing the cost of the homes to reduce the barrier to home ownership.
This, he said, was in spite of the increased cost of building materials occasioned by the current inflationary trend.
“The governor of the state, Mr. Babajide Sanwo-Olu, has insisted that cost of homes built by the State should be lower than the market price so as to make home ownership easier for the people.”
Other schemes being constructed through direct budgetary allocation include Egan-Igando, LASU, Ita-Marun in Epe and Ajara, he said.
He noted that though these schemes were inherited from previous administrations, the Lagos State Government was committed to their speedy delivery and commissioning because they are all for the utmost benefit of the people.
Akinderu-Fatai said, “in line with the THEMES 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, also indicated that an additional number of homes will be made available before the third anniversary of the present administration through Joint Ventures or partnership with private investors.
Akewusola said, “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.”
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, Akewusola said.

The state government under Sanwoolu has commissioned the housing schemes at Igando, Igbokushu, Lekki Phase 1, Lekki Phase 2, Idale, Badagry, Iponri and Igbogbo.