After months of sustained discussion, the Lagos State Government Tuesday signed a memorandum of understanding (MoU) with First Investment Property Company (FIPC) to redevelop and complete 472 units at Ilubirin Housing Scheme.
The state government, therefore, disclosed that the scheme would be constructed in seven phases, adding that the existing structure, which is already underway, would be completed in 2019 and other plashes would be completed before the end of 2022.
This is contained in a statement by the Commissioner for Housing, Mr. Gbolahan Lawal, noting that the scheme was initiated under the Lagos Home Ownership and Mortgage Scheme (LAGOSHOMS) in 2014 and conceived as a purely residential scheme.
Under the current fiscal year, a sum of N59.904 billion was allocated for housing and community amenities. With a housing deficit of over 5 million, however, the state governor, Mr. Akinwunmi Ambode, said the state could not provide shelter for all residents.
With the allocation, the governor has assured the residents that his administration “will be able to deliver affordable housing units to interested residents under the ‘rent-to-own’ schemes in Gbagada, Igbogbo, Iponri, Igando, Omole Phase I and Sangotedo among others”.