Lagos Welcomes more Joint Venture Partnerships to Tackle Housing Deficit, Says, Special Adviser
Special Adviser to Lagos Governor on Housing, Mrs. Toke Benson-Awoyinka, in this interview with Ehime Alex, speaks on what the state achieved the previous year as regards housing development and plans for 2023
Addressing housing deficit
As the commercial hub of Nigeria, there is a daily inflow of people from across the country. This puts pressure on the housing needs of the residents. To bridge this housing gap, the Lagos State Ministry of Housing initiated a Public Private Partnership (PPP) or Joint Venture with real estate practitioners. In seeking a solution to this deficit, we have engaged/collaborated with property developers in order to deliver homes for the people of the state. So, the emphasis is more on what we are doing. Housing projects are long-term and highly capital intensive, so collaboration with developers with the financing and expertise is yielding dividends. These developments are not only for low-income earners but for all income segments, which include medium and high earners.
….through the LagosHOMS
But definitely, there are mass housing scheme projects across the state that are under construction through the Ministry of Housing/LagosHOMS, Lagos State Development and Property Corporation (LSDPC), and Private Sector Participation, which, when completed, some reserved for Rent- to- Own policy of the state government.
Under this arrangement, individuals are required to pay 5% of the cost of the housing unit as a commitment fee with 30% of the cost of the property, while the balance will be spread over a period of 10 years minimum tenure and a maximum of 20 years. This has produced over 1,752 family beneficiaries from the Rent-to-Own Policy. You must have the intention to live there and not for rental purposes. Any individual who wants to apply for this can go to the website www.lagoshoms.gov.ng.
The Home Ownership Mortgage Scheme is a Lagos State Government initiative known as LagosHOMS to encourage and support home ownership of a first-time buyer with a stable income source to be deducted as an installment payment.
2022 giant strides
In summary, the administration of Governor Babajide Sanwo-Olu has delivered 3,526 housing units across the state. These achievements are significant giant strides for the state government to provide housing units to the teeming population of the state.
The Ministry of Housing is the key driver of the state government policies in terms of provisions of decent housing schemes for the people at an affordable rate. Specifically, as the Special Adviser to the Governor on Housing overseeing LASRERA, the agency will complement the state government’s vision for the housing sector.
Plans for 2023
As long as you are earning an income, there are affordable housing schemes for you under the Lagos State Government Ministry of Housing. That is why I am encouraging income earners to apply for several housing schemes across the state to benefit from these projects. Within the various housing units in the state are studio units and 1/2 /3 bedrooms apartments. These configurations of apartments mean they suit a wide spectrum of society.
Also, there is room for more Joint Venture Partnerships (JV) with the private sector and investors willing to help the government tackle the rapidly growing housing deficit in the state. The government is working with all regulatory agencies in the built sector of the state to ensure that the process of getting approval on Land matters is seamless and not cumbersome.
PROFILE
Mrs. Adetoke Benson- MAwoyinka is a special adviser to Lagos State Governor on Housing. A graduate of the Lagos State University (LASU), her concern for the greater development of Nigeria has influenced her diverse political engagements over the years.
A legal practitioner with cognate experience in insurance law, including underwriting policies, risk and claims management, as well as an expert in litigation, probate and land matters, Benson-Awoyinka worked as a lawyer and technical consultant at Sprint United and as head of the corporate strategy and policy implementation at Dvyn Inc, both in the United States.
Benson-Awoyinka was part of a team that crafted the Development Agenda for Western Nigeria (DAWN), an initiative set up by the governments of the southwest states as an institutional and programme management body to midwife regional integration agenda
