The Lagos State government has announced significant strides in addressing the housing deficit, providing over 3,000 housing units within the past four to five years, with plans to ramp it up to 7,000.
Speaking at a media briefing in Lagos, the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, underscored the urgency in expanding housing infrastructure to accommodate the burgeoning population.
Akinderu-Fatai highlighted the pressing challenge of housing scarcity, especially for low-income earners, exacerbated by the influx of individuals from other regions into Lagos.
Seeking to catalyze developments in the housing sector, the government is actively courting investors. Akinderu-Fatai revealed plans for legislation aimed at attracting private investments, including rent control laws and mortgage regulations.
READ ALSO: LASBCA Officials Urged to Uphold Integrity in Building Practices
“The government is dedicated to enacting rent control laws to ensure reasonable rent increases, thereby making rental properties more appealing to investors. Additionally, we’re revamping mortgage laws to incentivize private sector participation in affordable housing,” Akinderu-Fatai stated.
Acknowledging the hurdles posed by inflation and foreign exchange fluctuations, he urged collaboration between the private sector and the government, advocating for Corporate Social Responsibility initiatives to address the housing needs of low-income earners.
READ ALSO: Every Nigerian Deserves A House-President Tinubu
In conclusion, the commissioner emphasized the government’s openness to various forms of partnerships and urged stakeholders to contribute collectively towards bridging the housing gap in Lagos State.
