The Lagos State Government is cracking down on contractors who are delaying crucial housing projects in the state.
The Commissioner for Housing, Moruf Akinderu-Fatai, issued a stern warning on Thursday, after inspecting several state-funded developments, including Sangotedo Housing Estate and Eti Osa Phase 2. The government’s patience is wearing thin due to the slow pace of work, despite consistent support.
According to Akinderu-Fatai, the state government is worried about the impact of delays on addressing the state’s housing needs. Contractors are expected to meet agreed-upon deadlines or face termination. The government has consistently supported these projects, but slow progress is hindering success.
Contractors who fail to meet deadlines will face termination, as emphasized by Commissioner Akinderu-Fatai. This move aims to push contractors to work efficiently and complete projects on time.
The Lagos State Government has been working to address the state’s housing needs through various projects. However, delays have hindered progress, prompting the government to take action.
The Permanent Secretary in the Ministry, Engr. Abdulhafis Toriola also reminded contractors of the importance of adhering to schedules and ensuring the timely delivery of every aspect of the projects.
The statement revealed that the current ongoing housing projects include the Sangotedo Housing Estate Phase 2, which will comprise 43 blocks and add over 500 home units to the existing stock upon completion. The first phase of the project, which includes 744 home units, was delivered and commissioned by Governor Babajide Sanwo-Olu in December 2021.
In addition to Sangotedo, projects at Ajara, Badagry, Ibeshe Scheme 2, Ita Marun, and Egan Igando Cluster 2 and 3 are part of the Lagos State Government’s broader initiative to address the housing needs of its growing population.
The government aims to complete all five ongoing housing estates within the tenure of the current administration, which concludes in 2027.
The Lagos State Government introduced the Rent-To-Own Program and Lagos Home Ownership Mortgage Scheme (Lagos HOMS) to address the housing gap and offer affordable housing options.
The Rent-To-Own Program allows prospective homeowners to pay a 5% down payment, move into their homes immediately, and pay the balance as rent over 10 years. To qualify, applicants must be Lagos residents, first-time buyers aged 21 or older, tax-compliant, and meet affordability requirements, ensuring that monthly payments do not exceed 33% of their income.
Lagos HOMS, managed by the Lagos Mortgage Board, provides first-time buyers with mortgage financing for affordable homes. Applicants contribute up to 30% of the property’s value, with the balance spread over 10 years.
