LASG to Invest N20bn in Housing

• LASG to Invest N20bn in Housing

The Lagos State Government has said it is planning to invest N20bn in providing more houses under the rent-to-own scheme.

“The state government plans to invest a fresh N20bn in the provision of affordable housing for the residents of the state who are in need of accommodation,” the Commissioner for Housing, Mr. Gbolahan Lawal, said.

Lawal, who spoke during the presentation of keys to beneficiaries under the rent-to-own scheme, said the injection of fresh funds was an addition to the commitment already made to bridge the estimated three million housing deficit in the state.

He said about 500 housing units had been allocated to subscribers in the last three months under the rent-to-own scheme as part of efforts of the state government to reduce the housing deficit through the allocation of units to residents on monthly basis.

The commissioner stated that the 500 homes given out through the rent-to-own scheme would provide for not less than 2,500 people, taking an average of five persons per family.

“In February this year, 100 lucky residents who subscribed to the scheme were successful and were given keys to their new homes; in March, the number increased by 100 per cent to 200 who also collected keys to their new homes. Just last month, another batch of 200 residents collected keys to their new homes at a brief ceremony at the Secretariat, Alausa, Ikeja,” he said.

Lawal also stated that 10 private real estate developers had been engaged by the government on Public-Private Partnership basis to increase the housing stock in the state.

According to him, the involvement of PPP in housing provision in the state will be unveiled in May to signal the seriousness of government to combat accommodation challenges.

The General Manager, Lagos State Mortgage Board, Mr. Dehinde Tunwashe, said the present administration of Governor Akinwumi Ambode was determined to provide decent and affordable housing for the residents.

One of the allottees, Mrs. Adepeju Olowo, a civil servant, said the house would serve as her retirement benefit.

I am happy because contrary to expectation, I now have somewhere to lay my head after retirement, she said.