Lagos to invest $500m on housingLagos to invest $500m on housing

Lagos to invest $500m on housing

The Governor Ambode-led Lagos State Government is to invest $500 million on redesigning and completing housing units.

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Lagos to Invest $500m on Housing

The Governor Ambode-led Lagos State Government is to invest $500 million on redesigning and completing housing units at Ilubirin and Ijora-Badia to allow for efficient utiisation of resources and for better quality delivery.

 

The state’s Commissioner for Housing, Mr Gbolahan Lawal, made the disclosure in Lagos.

Lawal said the Lagos state government is partnering with private partners and will create 10,000 direct jobs and have signed a Public- Private Partnership (PPP) agreement with First Investment Development Company (FIDC).

“The project will be in phases and is expected to be fully completed within the next five years.

 

Purpose of the PPP Arrangement

The PPP arrangement was to reduce the housing deficit in the state by providing affordable and qualitative accommodation for residents and to also create jobs.

“The ministry of housing is responsible for implementation of the programme, which has three templates, namely, affordable mass housing; equity partnership housing and mixed partnerships.” said Lawal

First template

Where the government provides land and development plan while the partner provides funds and executes.

Second template

Where the government provides the land while the partner generates the development plan, funds and executes.

Third template

A mixed partnership where the partner providing the land while government will provide the funds and also execute the development plan

He assured that any of the templates adopted would be in the best interest of Lagos residents.

 

Residents plead with Ambode

Several residents of Lagos had expressed concern over the condition of housing estates in Ilubirin and Ijora Badiya according to the News Agency of Nigeria, NAN.

One Mr Tola Ade, called on government to complete the abandoned estates for interested members of the public to benefit.

I appeal to the State Government to complete these estates and other uncompleted ones within the state so that we can begin to take advantage of them,” he said.

Another resident, Mr Adeniyi Idowu, pleaded with the government to complete the estate and the one at Ilubirin to reduce the scarcity of accommodation,” he said.

A Mrs Yemisi Martins, also resident also appealed to the State Government to do something about the “abandoned” estates to stop miscreants from using them for their criminal activities.

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