Rent-To-Own scheme
3000 Lagosians benefit from rent-to-own homes. Above Lagos Housing Commissioner, Gbolahan Lawal, second left, on an inspection of Amuwo Odofin housing scheme. Image: NAN/Concise

The Lagos State Government has said that over 3,000 residents have benefited from its Rent-To-Own scheme, Commissioner for Housing Gbolahan Lawal has said.

According to Lawal, the Lagos State housing policies include both the formal and the informal sectors.

Advertise With Us

“All our estates are for everybody irrespective of your status. We have special consideration for Lagosians and we have accommodation for all categories of people in Lagos,” he said.

“My Christmas promise will be achieved for those prospective buyers who have applied for Gbagada, Igbogbo, Amuwo Odofin, Sangotedo Phase 1 houses. Celebrating Christmas in their new homes is feasible.

“It is important to also use this medium to let Lagosians know that we are committed to completing all the projects we met on ground and we are also building new ones.

“So far over 3,000 Lagosians are now beneficiaries of our Rent-to-Own Scheme.”

In addition, he noted that “The state government introduced the Rent-To-Own scheme where beneficiaries are required to pay only five percent of the cost of building as commitment fee while the balance is spread over a period of 10 years.

“A recent study revealed that the housing deficit for Lagos is 2.5 million and the government also found out that it will take 187,500 housing units yearly for five years to bridge the gap.

“The government of Lagos State alone cannot bridge the existing gap and so we decided to come up with Lagos State Affordable Public Housing and that is working with the private sector as a joint venture initiative.

“Government contribution is land, then all the statutory charges, the permits, will also be part of the government’s equity while the private sector will come up with the technical expertise, the finance and all that are geared towards the supply side. The Rent-to-Own is the demand side.”