The Commissioner for Housing, Mr. Moruf Akinderu-Fatai, during a media briefing in Lagos on Thursday, highlighted the Lagos State Government’s significant strides in housing provision over the past four to five years, delivering over 3,000 housing units with plans underway to increase this to 7,000.
Akinderu-Fatai emphasized that the expansion of housing units is vital to tackle the prevalent housing deficit, particularly affecting low-income earners.
To address this challenge, he outlined the government’s initiatives to enact policy changes aimed at attracting investments and boosting housing development in the state.
The commissioner stressed that rapid population growth, coupled with migration to Lagos, has intensified the demand for affordable housing, necessitating proactive measures to meet this rising need.
He disclosed the government’s focus on amending rent control and mortgage laws to enhance investor confidence and facilitate private sector participation in affordable housing projects.
Akinderu-Fatai explained that revisions to these laws would aim to provide greater flexibility and attractiveness for investors, particularly in rental properties and mortgage financing.
Acknowledging the hurdles posed by inflation and foreign exchange fluctuations, he underscored the importance of collaboration between the public and private sectors to address the housing needs of low-income earners, suggesting Corporate Social Responsibility (CSR) initiatives as a means for private entities to contribute meaningfully.
He reiterated the government’s willingness to explore various forms of collaboration and encouraged the private sector to engage in partnerships to collectively address the housing challenges faced by vulnerable groups.
