LASG PARTNERS PRIVATE INVESTORS TO DELIVER 100,000 HOMES IN THREE YEARS
The Lagos State Commissioner for Housing, Mr. Moruf Akinderu-Fatai has disclosed the State Government’s plans to provide 100,000 livable and affordable homes in the next three years, through increased partnership with private investors and utilisation of innovative building technology.
Akinderu-Fatai, who disclosed this during the maiden edition of a Webinar organised to showcase Lagos First Green and Eco-friendly Estate in Idale, Badagry, a joint venture between the State Government and Echostone Nigeria, described the project “as the first of its kind” in Nigeria and promised that Lagos would not rest on its oars in ensuring that the challenge of housing deficit is drastically reduced.
In his words: “In our journey towards the Greater Lagos of our dreams, one of the envisaged milestones of success in the T.H.E.M.E.S agenda, is the provision of affordable and decent homes for the ever-increasing population of the State. We are responding to this challenge through the completion of on-going housing schemes, increased collaboration with private investors as well as strategising on innovative technology to increase the speed of completion”.
“As a proof of our commitment, 492 Allottees were recently given keys to their homes at Alhaji Lateef Kayode Jakande Gardens in Igando, Alimosho Local Government. Already, 360 home units are also nearly completed for habitation at Igbogbo (11b) in Ikorodu Local Government area. Before the end of the year, our housing schemes at Sangotedo (744 homes), Odo Onosa /Ayandelu (660 units), and Egan Igando to mention a few will soon be made available. This is in addition to the already completed and ready for delivery Peridot Parkland Estate, Idale in Badagry consisting of 252 housing units”.
While acknowledging that the challenge of affordability and accessibility is very real, especially for the middle and low-income groups, the Commissioner stressed that as an inclusive government, the present administration has designed a convenient financial repayment plan through its Rent-to-Own Scheme which will be spread over 10 years with 5% advance-payment to ease the financial burden of homeownership for Lagosians.
Akinderu-Fatai pointed out that the collaboration with Echostone has shown clearly that the Lagos State Government will speedily meet up with its target in Housing delivery in order to increase the stock of available homes in the State.
He revealed that the innovative technology and eco-friendly designs used at Idale will soon be deployed towards the construction of multilevel structures in the urban areas, notably Ayobo, Ipaja to reduce the challenge of housing deficit.
Expressing his satisfaction with the quality of houses built at Idale by Echostone Nigeria, the Permanent Secretary, Ministry of Housing, Mr. Wasiu Akewusola, said that more housing schemes will soon be developed by the State with the technology introduced by the firm.
Akewusola said that the partnering firm employed an innovative technology that is fast, safe and energy-saving, adding that “We are pacesetters. Beyond the provision of houses, Lagos State intends to continue to set the benchmark in quality and affordability in housing projects”.
Earlier, Mr. Sammy Adigun, the Director of Echostone Nigeria. who also moderated the virtual conference disclosed that, apart from the benefits accruing to the environment through optimisation of energy consumption, the project also showcases an innovative technology which speeds up housing delivery, utilises lesser energy and generates minimal waste from site activities.
Adigun said, “other eco-friendly attributes include reflective roofing, roofing overhang, positioning of windows to optimise natural light and ventilation so as to reduce the use of electric fans, air-conditioners and light”.
Speaking on Mortgage Financing during the webinar, Mr. Ahmed Musa Dangiwa, the Managing Director, Federal Mortgage Bank of Nigeria (FMBN) enlightened participants on possible ways to access mortgage financing and implored intending homeowners to access the website: www.fmbn.gov.ng or visit any of the 36 branches across the country to make inquiries on how best to access the fund for building, buying, renting and renovation of homes.
Mr. Festus Adebayo, founder of Abuja based International Housing show and Housing TV Africa, in his submission, enjoined all stakeholders in the housing sector to embark on an aggressive campaign to sensitise the public on mortgage financing, advancing that “advocacy and increased enlightenment for mortgage banking is the next essential step in the process of increasing home ownership in the nation”.
The Managing Director/CEO, Nigeria Mortgage Refinance Company (NMRC), Mr. Kehinde Ogundimu also advised investors to address the need to invest more in the housing sector to promote the socio-economic development of the nation, just as he asserted that the Peridot Parkland Estate sited on 10 hectares of land, meets the standard requirements for mortgage financing.