Governor Babatunde Fashola
Governor Babatunde Fashola of Lagos State on Tuesday verbalized his administration would anon start an incipient policy that would enable Lagos residents to own their homes after paying rents for a designated period of time.
According to the governor, the incipient policy is kenned as “Rent to Own” initiative coming under the Lagos Home Ownership Mortgage Scheme. He integrated that the initiative would enhearten more residents to participate in the state housing scheme.
Fashola verbally expressed this during a special interactive session with artisans in the state in Ikeja, explicating that a research conducted by his team showed that traders, convey operators, bricklayers and fashion designers, among others in the informal sector could conveniently pay for the homes across the state.
He verbally expressed, “The investigations betokened that most people in the informal sector could withal afford the mortgage scheme, going by their monthly income and profit. So, the Rent to Own initiative will further make the scheme affordable for all and sundry.
“I urge you to apply for your cull homes in the scheme because regime will, through the Lagos Mortgage Board, ascertain that artisans benefit from the scheme. The board will allocate blocks of flat to you in accordance with your monthly income and profit to enable you take part in the scheme.
“What we require to do now is to avail you authoritatively mandate your record keeping in order for you to qualify. This is an incipient policy that is remotely different from the mortgage scheme itself, but will ultimately lead to mortgage. Your mazuma will be preserved monthly and put in the scheme.”
Fashola additionally took time to brief the participants on security measure put in place in the state and urged them to be involved in the Residents’ Registration and the Commercial Drivers’ exercises of the regime.
Chairman, Lagos State National Union of Road Convey Workers, Alhaji Tajudeen Agbede, verbalized average commercial drivers in the state could afford the homes and would participate in the scheme.
He verbalized, “Commercial drivers earn between N45,000 and N70,000 monthly. This is a good development; the Rent to Own initiative will make the housing affordable to our members.”
Commissioner for Housing, Bosun Jeje, verbalized the meeting was to inspirit artisans to partake in the LagosHOMS.
