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Published On: Tue, Jun 10th, 2014

Mortgage: Fashola approves N2bn for new housing estates

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fasholaLagos state Governor Babatunde Fashola said the government had approved and released the sum of N2bn for the construction of new estates.
Fashola speaking at the 4th draw for the allocation of homes under the state’s Home Ownership Scheme (Lagos HOMS) said the planned estate would be incorporated into the state’s mortgage scheme designed to improve access to decent homes.

Just this week, we have approved and released about N2bn to mobilise fresh contractors for new estates that had been under consideration.
“And we will continue to pay all outstandings to contractors to ensure work continues on the sites” he said.
Fashola said government was fulfilling its promise to reduce housing deficit through the delivery of homes under the scheme.

The governor said no fewer than 235 homes had been allocated so far, adding more home would be allocated in subsequent homes.
He commended contractors handling the various housing projects for a job well done but urged them to speed up work for prompt delivery.
According to him, prompt delivery of the various on-going projects will boost the number of homes under the scheme.

The governor said he was fulfilled by the smiles on the faces of those who have become new owners via the scheme.
He urged residents to continue to pay their taxes to enable government to mobilise resources to provide homes for more people.
Fashola advised citizens to believe in the country’s democracy, saying the success story of the state’s mortgage scheme meant Nigeria could be great with the right attitude.
“I am happy about this scheme. I am happy because, in spite of what happens around us, something made by us, designed by us can work without interference.
“I am happy that the idea can work openly and honestly and transparently and what all this means is that democracy is at work.

“This is a product of democracy. It means we should not lose hope. It means that if we commit, persist and dare to dream, everything is possible “he said.
Fashola appealed to residents to continue to support the government to deliver more development in the state.
Earlier, Mr Bayowa Forsythe, Secretary ,Lagos Mortgage Board said 222 residents applied for homes across the various estates in the June draw.
He said 176 were pre-qualified for the draw while 46 applications were declined due to documentation issues.
Forsythe said the board would continue to do its best to ensure the allocation of homes was done in a transparent manner.

92 new winners emerged at the draw and were allocated homes across seven estates.
Some of the estates in which homes were allocated are Chois Estate, Lekki, Olaitan Mustapha Estate, Ijaiye; Shogunro Estate; and Michael Otedola Estate, Epe.

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