Sanwo-Olu reveals how Lagosians can benefit from 360 flats in Ikorodu

The Executive Governor of Lagos State, Babajide Sanwo-Olu, has revealed how residents of the state can benefit from 360 apartments in the Prince Abiodun Ogunleye Housing Estate situated in the Igbogbo-Baiyeku Local Council Development Area of Ikorodu.

The Governor disclosed that the state has adopted a global housing policy of rent-to-own which is targeted at the working class in the formal and informal sectors.

Sanwo-Olu stated this on Wednesday while inaugurating the housing estate which has 120 one-bedroom flats, 120 two-bedroom flats and 120 three-bedroom apartments.

“As we have adopted a global housing policy which gives people the option of becoming home owners over a period of time through the rent-to-own policy which is targeted at the working class in the formal and informal sectors promises to continue to provide prosperity, decent living and for our citizens and the beneficiaries.

“They will be earmarked to pay on a monthly basis and the mortgage is also very convenient. The GM (General Manager) of Lagos State Mortgage Board had explained the statistics to us and how this will work. He had explained to us that for you to have a flat here for three-bedroom, it is N400,000 and if you want to do a bid, N275,000 for two-bedroom (flat), and N175,000 for one bedroom. I think the LAGOSHOMS deserves a round of applause for that,” the governor said.

The state Commissioner for Housing, Moruf Akinderu-Fatai, said, “This housing project being commissioned today has 360 homes comprising 120 one-bedrooms, 120 two-bedrooms and 120 three-bedroom apartments in 10 blocks.

“The project can be seen as modern infrastructure that has been put in place to enhance the decent living of citizens.”

Akinderu-Fatai added, “In presenting these homes to our people, our focus is on the first time owners. We have decided to bring as many people as possible into the home ownership ladder. The prices of these homes have been greatly discounted by the state government and this is pro-people government. Our joy is only complete when more people particularly the low and medium income earners become homeowners.

“Therefore, in line with current realities, the convenient mortgage plan through our rent-to-own scheme will be utilised to a large extent in delivering the homes to the end users.”


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