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Lagos Rent-to-Own: 500 subscribers allocated housing units in three months

“As part of efforts of the Lagos state government to bridge the housing gap in the state with its Rent-to-Own initiative through which the state allocates a minimum of 200 housing units to its citizenry on monthly basis, a total of 500 housing units have so far been allocated in an exercise that commenced two and half months ago.”- Vanguard

Hundred units were allocated when the exercise began mid February. Two hundred units were allocated in March and 200 units allocated in April, bringing the total of units so far allocated to subscribers to the scheme to 500 within three months.

Speaking at the hand-over ceremony of keys to 200 allottees at the weekend, the state Commissioner for Housing, Prince Gbolahan Lawal disclosed that each of the 500 units given out to lucky residents through the Rent-to Own scheme is supposed to house at least five people, pointing out that an estimated 2,500 people who are direct beneficiaries of the scheme have been accommodated.

Beneficiaries of the scheme

Prince Lawal explained that with the 500 housing types already allocated, it is estimated that homes have been provided for not less than 2,500 people, with an average of five persons per family.

He said, “In February this year, 100 lucky residents who subscribed to the scheme were successful and were given keys to their new homes in March, the number increased 100 percent to 200 who also collected keys to their new homes.

Just last month, another batch of 200 residents collected keys to their new homes at a brief ceremony at the Secretariat Alausa Ikeja”, Lawal said.

He however revealed that the state government planned to invest a fresh 20 billion naira into the provision of affordable housing to the residents of the state that are in need of accommodation, adding that the injection of the new funds is an addition to the commitment already made to bridge the estimated three million housing deficit in the State.

Lawal also disclosed that 10 private real estate developers have been engaged on Public Private Partnership PPP, basis to increase the housing stock in the state and Nigeria in general.

According to him, the involvement of PPP in housing provision in the state would be done in May, 2017 to signal the seriousness of government to combat accommodation challenges in the State head-on.

He described the Rent-To-Own policy as “not just about provision of shelter” but economic stimulation and empowerment, adding that it demonstrates efforts of Governor Akinwumi Ambode towards the provision of affordable homes for a large number of people.

Lawal stated that 200 residents who were given keys to their new homes were the people who applied, passed the eligibility test and were able to meet the criteria for owning those homes.

Taking into consideration the multiplier effect of these homes, the Commissioner noted that these homes would require new furniture and home gadgets such as electrical/electronic appliances leading to increased demand for these items which would stimulate economic growth in those sectors where the items are produced.

Earlier in his welcome address, the General Manager, Lagos State Mortgage Board Mr. Dehinde Tunwashe urged every Lagosian to keep faith with the present administration of Governor Akinwumi Ambode which is a people friendly government that is determined to provide decent and affordable housing to the residents of the State. While congratulating the new allottees, he enjoined them to take full responsibility of the estates by cooperating with the facilities Managers in ensuring the best use of the facilities provided.

One of the allottees, Mrs. Adepeju Olowo, a civil servant said, “I am happy because contrary to expectation I now have somewhere to lay my head after retirement.” She thanked the State government for initiating the policy.

Source: Vanguard

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