…seeks investors’ partnership to bridge housing deficits
Lagos state governor, Babajide Sanwo-Olu, has inaugurated a 270-unit Housing Estate at Egan in Igando-Ikotun Local Council Development Area (LCDA).
Governor Sanwo-Olu said the landmark project marks a significant milestone in the ongoing commitment to providing affordable and quality housing for the people.
He said: “We celebrate the completion of buildings, the realization of dreams, the creation of communities, and the promise of a brighter future for many families. The Egan-Igando Mixed Housing Scheme is a testament to our unwavering dedication to improving the lives of our citizens through strategic and sustainable development.
“In recent months, we have focused on completing housing projects inherited from the past administration, funded through budget allocations and joint ventures with development partners. I am delighted that we have completed this project through determination and dedication. This is just the first phase; the second phase which is cluster two comprising 216 Home units, and cluster three which will come in the third phase, comprising 360 Home units, will soon be delivered. In total, this housing estate, when completed, will deliver 846 Home units to ease the housing deficit in the state.”
He said housing is a fundamental human rights and a cornerstone of social and economic stability.
“This project is designed to cater to diverse socio-economic groups, reflecting our vision of an inclusive society where everyone has a place to call home. Our greatest asset is the citizens of this state, forming the solid foundation upon which we build our accomplishments. The roads, bridges, and other physical infrastructure we construct are designed to improve life for our people. We are resolute in our commitment to make significant investments in affordable housing to bridge the gap between the demand and supply in the housing sector.
Sanwo-Olu said to eliminate the deficit and achieve a 21st-century economy, there is a need to partner with private investors to bridge the housing gap.
He stated: “Our administration’s primary goal is to build more homes and empower the private sector as the main driver of economic growth. To this end, we have enhanced private sector involvement in housing development, acknowledging that the government cannot do it alone.
“Thriving economies are built by people. To achieve our goals, we must continue to build decent homes in livable communities, ensuring our citizens are psychologically and socially stable to contribute to the economy and the State. Homeownership brings joy and a sense of achievement, making housing provision a critical part of our developmental efforts.”
He noted that the housing shortage in Lagos State is real, but his administration is determined to reduce it by implementing policies that ensure the availability of decent homes for all, regardless of ethnic, religious, or political affiliations.
Commissioner for Housing, Moruf Akinderu-Fatai, said the completion of 270 units of 2-bedroom apartments is a vital step towards alleviating the housing deficit in Lagos, hence bringing succour to the people of the Igando-Ikotun LCDA in Alimosho.
Akinderu-Fatai said: “The journey of the Egan-Igando Mixed Housing Scheme began in 2001, with the ambitious goal of delivering 846 housing units to sub-urban dwellers in the state. However, due to funding issues, the project was abandoned and transferred to the Lagos Building Investment Corporation (LBIC) in 2006.
“Despite significant interest and financial commitments from over 924 subscribers, the project stalled again and was taken over by the Ministry of Works and Infrastructure in 2013. With very minimal progress recorded, the project was returned to the Ministry of Housing in 2016 by former Governor Akinwunmi Ambode.
“In a transformational pursuit to making Lagos a 21st Century Economy under the T.H.E.M.E.S Agenda of Governor Sanwo Olu, a holistic approach to complete the Egan-Igando Mixed Housing Scheme alongside other ongoing projects began.
“This led to the strategic division of the project into three clusters to facilitate its completion. It was also discovered that many buildings had failed structural integrity, leaving us the difficult but necessary decision to pull down the compromised structures and erect new ones.
“Today, we are proud to present Cluster 1, with 45 blocks consisting of 270 units of two-bedroom Apartments with complementary infrastructure. We not only celebrate the completion of these units but also the resilience, dedication, and hard work that has brought this vision to reality.
“As we hand over the keys to the new homeowners, we reaffirm our commitment to completing Clusters 2 and 3. We will continue to work assiduously to overcome any challenges, ensuring that the promised units are delivered. This project is a clear indication that when we combine vision with dedication, the results are transformative.
“May I, also add that Mr. Governor, in his magnanimity has graciously approved that all existing subscribers with full payment for either a unit of two-bedroom or three-bedroom flat be allocated this very cluster at no additional fees to the selling price. This is to appreciate their trust and commitment over time in our dear state.
“However, other subscribers with more than 50 percent commitment on the initial selling price shall be considered with an option to balance up at the current selling price.”
The commissioner thanked Governor Sanwo-Olu for his determination and unusual support for the housing sector, particularly on the completion and delivery of the Egan–Igando Mixed Housing Estate.
“This project was faced with a lot of challenges which made it a herculean task for over two decades but for the unwavering commitment of the present administration, the narrative has changed today marking another giant stride in the Housing history of Lagos State.
“We have to thank Mr. Governor for all the strategic moves deployed to ensure that finally the first cluster of the Estate is completed and handed over to the good people of Lagos. We appreciate you Sir and pray that your good legacy of selfless service will continue to resound beyond now,” he said.
