Lagos Releases N2bn To HOMS Contractors To Increase Housing Stock

Joshua Bassey & Odinaka Mbonu

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overnor Babatunde Fashola of Lagos State says an additional sum of N2 billion has been released to contractors handling various housing projects under the Lagos State Home Ownership Mortgage Scheme (Lagos-HOMS) to increase the housing stock in what aims at bridging the huge housing deficit in the commercial city.

This comes as 92 first time home owners emerged on Wednesday during the fourth draw of the housing scheme, bringing the total number of winners since the draw began in February this year to 235 residents. This is however a far cry from the 800 expected to have won in the last four months. Two hundred housing units comprising one, two and three bedroom flats located in different parts of the state are put up for sale under the scheme monthly.

Apart from monies realised from the sale of the houses, the state government sets aside N500 million monthly for the continued financing of the housing scheme. The prices of the houses range between N4 million  (for one-bedroom flat) and N32 million (for three bedroom flat) depending on location.

Fashola, speaking at the fourth draw which held yesterday at the Lagos Television Corporation premises, Ikeja, said he has released additional N2bn to contractors handling the construction of the housing scheme across the state, reiterating his administration’s commitment to providing affordable homes for residents.

“Nothing delights me more than seeing citizens who are happy. My day is made. This is the reason why I have this job. All of the home owners today, their joy and their happiness and excitement make this day worthwhile for me. We have 92 new home owners.” Fashola said.

He also appealed to contractors on the Lagos HOMS project whom he acknowledged have done well so far, to step up their pace without compromising safety and quality of the buildings.

He reiterated his call for the introduction of shifts at construction sites, stressing that workers could do two shifts of eight hours each, and in that way reduce construction time without compromising quality and not compromising the safety of the workers at the construction sites.

Governor Fashola said the successful holding of another public draw was a confirmation that people who live in the state, who have some means, and who work hard, can legitimately aspire to have a place to call their own.