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The Lagos State Government has reaffirmed its dedication to implementing the monthly rental scheme, a significant initiative aimed at shifting the current system of paying rent annually to a monthly payment system.
The state’s Commissioner for Housing, Mr Moruf Akinderu-Fatai, reiterated this commitment during a recent Ministerial Briefing to commemorate the first year of Governor Babajide Sanwo-Olu’s second term in office.
Despite facing various challenges, including access to affordable financing for low-income households, the government remains resolute in its efforts to launch the pilot phase of the scheme.
The Commissioner acknowledged the delays but assured the public that the government is actively working towards the scheme’s successful implementation.
Recognising the importance of affordable housing, Mr Akinderu-Fatai highlighted the growing population in Lagos State, which is estimated to have an annual growth rate of 3.34 per cent, with 90 people moving into the state every hour.
This rapid urbanisation has put significant pressure on the limited land area of 3,577km2, a third of which is water, further limiting housing development opportunities.
The Commissioner stressed that affordable housing is achievable, but it requires collaborative efforts from all parties involved in housing development.
He called for bold and resilient strategies to address the challenges and ensure that the monthly rental scheme becomes a reality.
Mrs Barakat Odunuga-Bakare, Special Adviser to the Governor on Housing, had previously announced that the monthly rental scheme would be enforced before the end of the year or early 2025.
This initiative is expected to address the social and economic issues associated with the current system, such as poverty and poor health, which are not unique to Lagos State but are a global concern.
As Lagos remains the epicentre of Nigeria’s urbanisation, the Lagos State Government’s commitment to the monthly rental scheme underscores its dedication to providing affordable housing solutions and improving the living conditions of its residents.
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