The Lagos State Government has reaffirmed its commitment to launching the monthly rental scheme.
The Commissioner for Housing, Mr. Moruf Akinderu-Fatai, reiterated this on Thursday during a Ministerial Briefing marking the first anniversary of Governor Babajide Sanwo-Olu’s second term.
He acknowledged the delays but emphasized that the government is proceeding with the pilot phase.
The Commissioner admitted that access to affordable financing has remained a hurdle, particularly for low-income households in Lagos State, which in turn, has led to social and economic problems such as poverty and poor health.
He, however, noted that the issue of affordable housing is a global challenge, saying housing prices and rents are rising globally.
Akinderu-Fatai, describing Lagos as Nigeria’s urbanization epicentre, highlighted that the state’s population is growing at an annual rate of 3.34%, with 90 new residents every hour. He added that the rapidly increasing population, coupled with a limited land area of 3,577 km², a third of which is covered by water, further restricts housing development in the state.
He expressed confidence that affordable housing in Lagos is achievable but requires bold and resilient strategies.