…Sanwo-Olu highlights importance of collaboration
…We offer unprecedentedly flexible payment plan – Commissioner for Housing, Akinderu-Fatai
Governor Babajide Sanwo-Olu of Lagos State on Tuesday reiterated the need for partnerships between the State Government and the public sector.
He particularly urged synergy among government offices and parastatals, particularly those affecting the Housing sector.
Restating his administration’s unwavering commitment to continually addressing the housing deficit in line with the THEMES Plus Agenda, he said: “By doing so, we will not only build houses but also communities, drive economic growth, and secure a better future for all Lagosians.”
The Governor, who spoke at the Banquet Hall, Lagos House, Ikeja, during the presentation of the Memorandum of Understanding by Lagos State Government and Access Bank Housing Scheme, Odo Nla, Ikorodu, also explained that relevant Ministries, Department and Agencies across sectors synergised in the project designed to run on a PPP finance model.
The proposed LAGOS/Access Bank Ikorodu Housing Scheme is a 704-apartment low-income estate that has been slated for completion in the next 24 months.
The Governor also stated that: “In collaboration with Access Bank PLC, the Lagos State Government embarked on a transformative housing project that will deliver the first batch of 704 units of two-bedroom apartments at Odo-Nla in Ikorodu.”
On the affordability of the houses, Sanwo-Olu said: “This initiative is designed specifically for low-income Lagosians, offering affordable mortgage terms: a down payment of just 10 per cent, a single-digit interest rate, and a repayment period of up to 20 years.”
He boasted that the project is not just about building houses; but “about creating homes, fostering communities, and laying the foundation for better lives”
The Governor also explained how more than ten relevant Ministries, Department and Agencies across sectors synergised in the housing scheme designed to run on a flexible finance model.
He said: “Representatives from eleven key Ministries, Departments, and Agencies (MDAs) have worked tirelessly to fine-tune every aspect of this project. These MDAs include: The Ministries of Finance; Transportation; Justice; Economic Planning and Budget (MEPB); Physical Planning and Urban Development; Environment and Water Resources; Lands Bureau; Lagos State Development and Property Corporation (LSDPC); Lagos State Mortgage Board; and New Towns Development Authority (NTDA).
Stressing his dedication to addressing the housing deficit is unwavering, the Governor said: “Beyond the Odo-Nla project, we have other ongoing housing developments at Sangotedo Phase 2, Ita Marun in Epe, Ajara in Badagry, Ibeshe Phase 2 in Ikorodu, and Egan Igando Clusters 2 and 3. These projects collectively represent our determination to provide lasting solutions to the housing needs of Lagosians.
Also speaking at the event, Commissioner for Housing Hon. Moruf Akinderu-Fatai, while thanking Sanwo-Olu for creating a sustainable environment towards the success of the partnership, also lauded him for the commitment to innovative housing solutions for the state,
He recalled how a directive by the Governor birthed the Odo Nla scheme, which he described as unprecedented.
Explaining that the choice of Odo Nla was informed by the nature of the soil and existing infrastructure, he also said that his Ministry had to “bring on board other relevant government ministries, departments and agencies in the built sector of the state’
“The Lagos State Access Bank Housing Scheme is a 704 unit of 44 blocks of 2 bedroom flats. Mr Governor, also recall that you have graciously approved the construction of the 2.2km road leading to the site as well as waivers and rebates on certain and relevant permits.
“These interventions are done to bring down the final cost of the homes and serve as the state contribution”, he said.
