Lagos state commissioner for Housing, Mr. Bandele Onabokun has reiterated the determination of the ministry to provide affordable housing to the people by putting in place flexible mortgage structure that will ease the financial burden of payment.

Governor Fashola

Speaking during the visit of Governor Babtunde Raji Fashola and other stakeholders to the Minister’s stand at the just concluded Eko Economic Summit "Ehingbeti 2008", the commissioner said that the high cost of building materials coupled with unwholesome activities of land speculators has resulted in the high cost of houses.

He said the present administration in the state has championed a mortgage scheme seeded with an initial N40b for tenure of 25 years to ease the financial burden on subscribers of the Ministry’s housing schemes.
The commissioner said the state government is making efforts to ensure that all civil servants and other Lagosians with regular income will be accommodated in the novel mortgage programme. Onabokun called on Lagosians to avail themselves of the opportunity offered by the ministry of becoming landlords.
He invited the private sector to take advantage of the investment window offered by the initiative to participate fully while promising that the government is working on alternative construction technologies to ensure that the cost of the houses are not too high beyond the target audience. This strategy, according to him, will enable the state achieve the governor’s target of providing at least 40,000 housing units before the end of his four year tenure.

The commissioner promised to ensure that the documents for the staff quarters and other government housing estates are ready and therefore urged allotees to come forward and perfect their title documents.