Lagos government commissions new housing estate

Governor Babatunde Fashola of Lagos State

Lagos government commissions new housing estate
Abdul Semiu Babalola

The Lagos State government in south-west Nigeria has commissioned 8 units of 8-in1 3 bedroom flats with modern amenities.

Speaking at the ceremony, the state Governor, Mr Babatunde Fashola said the construction and completion of the housing units were in a bid to address the housing deficits confronting the commercial city of Lagos.

He also said that it was in fulfilments of his electoral pledge to the electorates.

Joint efforts

He said the way out of the shortages of houses in the city required joints efforts of the public and private sectors.

According to him:”The solutions therefore requires a combination of forces of Government; private sector collaboration, inducing investment in housing, developing or inducing a fiscal and monetary policy control, exchange rate and interest rate that are friendly to the housing sector.”

Housing Arbitration Rules

Governor Fashola remarked that the recently signed tenancy law was not a price control mechanism.

He said it was meant to regulate the tenants and landlord relationship for the mutual benefits of all.

“Having therefore used the tenancy law to set a policy agenda, we have moved from there to inaugurating Housing Arbitration Rules which is another policy to ensure that disputes within the housing sector can be dealt with through an alternative dispute resolution platform of Arbitration, which financiers and investors have been known to prefer, because of its special and commercial efficiency”, the Governor said.

Lagos Home Ownership and Mortgage Scheme

The estate was said to be part of the Lagos Home Ownership and Mortgage Scheme.

Under it, beneficiaries are to pay 30% of the cost and pay the balance spread over ten to fifteen years.

Also, the would–be beneficiary must not own a house before and must be a resident in Lagos state, among other conditions.

“In the build up to the formal launch of Lagos Home Ownership Scheme (LAGOS HOMS) which will take place shortly, we have launched a website to provide information platform for the scheme in order to ensure its transparency and competitiveness, so that potential owners need not to know anybody or have need to induce anybody before they can benefit”, Governor Fashola elaborated.

Other projects

The estate is located at Ijaiye-Ojokoro, in the outskirts of the city, with drainage, asphalt road and a mini-water scheme.

Meanwhile, it was said that the governor last week, also commissioned 336 housing units named after former Governor of the state, Micheal Otedola, at Odorangushin in Epe Local Government Area of the state.

Speaking earlier, the Commissioner for Housing, Mr Bosun Jeje said that three other estates in Ikota, Ikeja and Gbagada would soon be ready for commissioning in the next three months.

“His insistence on good quality infrastructure, adequate facilities and beauty you have seen here today underscores his commitment to very high standards”, Mr Jeje added.

At the event, one of the three bedroom flats was presented to Mrs Mary Igbokwe, who lost her husband, an official of the Lagos State Traffic Management Authority (LASTMA), last year.

In appreciation, a portrait and a plaque was later presented the Governor by the widow and her children.

Shakira