Lagos state governor, Mr Babajide Sanwo-Olu during the hand over of keys ceremony at Alhaji Lateef Jakande Gardens in the Igando, disclosed that his administration will invest more funds in low-cost housing in order to reduce the housing deficit in the state.
Sanwo Olu intends to collaborate with stakeholders and professionals in the building industry to arrive at a lower cost of building materials, so as to increase housing supply in the state. The partnership will also make provisions for financial plans that will facilitate the ownership of real estate properties, through building social houses with mortgage facilities to make payments convenient and flexible.
The state government also plans to reward civil servants in Lagos by reserving a portion of the housing for them. “In a bid to encourage our civil servants, we will reserve 10 percent of all estates to ensure they also become homeowners while we ensure speedy completion of all ongoing estates. We will also encourage them with a rebate.” the governor said.
According to the Lagos Bureau of Statistics, the population of people in the state is estimated at 26 million. Majority of the residents are low and middle-income earners who depend on the little available houses for shelter,
The state government’s participation in the housing sector especially concentrating on affordable building materials will be progressive in ending the current housing deficit of 2.5 million units in the Lagos city. Furthermore, this will help reduce the stalling of construction projects due to elevating prices of construction materials in the country.
Lagos remains one of the most commercial states in Africa, with a huge influx of people in search of promising opportunities. Thus creating a high demand for shelter.
Unfortunately, cynical investors in the private sector capitalize on this shortage by using substandard materials to build residential properties that are not safe for human habitation. This recurrent practice has led to the loss of lives. For example, in March 2019, 20 people died and over 40 people were trapped when a building collapsed in the Ita Faaji area of Lagos.
Nevertheless, Sanwo Olu remains committed to delivering decent housing to the people of Lagos whilst addressing the issues that hinder the progress of Lagos housing. “Shelter is a critical need for stability in all spheres of life and governance is about the impact and touching lives of our people. Housing is important to everyone; we are keeping the promises of the present administration in the provision of decent homes for the people,” he said.
