Mr Moruf Akinderu-Fatai, Commissioner for Housing, Lagos State, disclosed this in Lagos on Thursday, July 22, 2021, while inspecting ongoing housing projects across Lagos State.
“The fund will reduce the challenge of financing housing development and empower people, particularly the low and medium-income earners to access housing without undue financial stress", he said.
He further said that it was not easy to raise funds, hence the state government would collaborate with international partners to deliver homes at low rates.
He went on to say that; “We are also looking at how to get mortgages below 10 per cent as well as how people who want funds can access it below 10 per cent. Presently it is about 22 per cent and that is not really good in terms of shelter delivery.”
The commissioner affirmed that the housing challenge in Lagos State was due to an uncontrollable influx of people from all over the nation.
He mentioned that the government is taking proactive steps to meet the demands resulting from the population upsurge to bridge the housing gap. He said the trust fund was the state’s response to solve its peculiar housing challenges.
