The Lagos State Governor, Babajide Sanwo-Olu, has promised to make available to developers 50 hectares of land for the construction of housing units as part of efforts to reduce the housing deficit in the state.
The promise was made known by Sanwo-Olu at the opening of the Second Edition of the Lagos State Real Estate Market Place Conference and Exhibitions with the theme: “Lagos: 21st Century Real Estate Investment Hub”.
What the Lagos State Governor is saying
Sanwo-Olu, while reacting to demand for land by the developers, said that the major problem was that a great number of developers did not have the capacity they claimed to have, with a lot of them holding on to the land and speculating.
The Governor said, “We can test you with 50 hectares of land to see your capacity and viability abound. A lot of people are holding on and speculating, but the real capacity are the ones that we want. Real people that are ready to hit the ground running are what we want.
“Once you are able to identify these people, I am saying to you here now, that we will work with your association and we will give you workable timelines so that you won’t turn us into speculators.
“Once you are ready, we would also be ready. This is your government that would make sure that we give you everything. I believe that the potential of this market is just starting, the potential is enormous, the potential is unbelievable.’’
Sanwo-Olu was full of praise for the Lagos State Real Estate Regulatory Authority (LASRERA), for its doggedness, noting that the agency was on the right path.
According to NAN, in response to Governor Sanwo-Olu’s offer of 50 hectares of land to developers, the Chairman of Real Estate Developers Association of Nigeria, Lagos State Chapter, Mr Bamidele Onalaja, said the association was delighted and will not disappoint the government in its efforts towards reducing housing deficit in the state.
He said, “There is little land in Lagos and that is why we want to partner with the government. Government will give us land, we have the money and we’ll get the off-takers to buy the houses.
“It is going to be affordable houses to support the government’s initiative of affordable housing. We are glad the governor has promised us 50 hectares of land to start with.
“When the government partners with us, we will deliver and we will make the governor proud.’’
What you should know
In a related development, the Lagos State Government had yesterday, as part of its efforts at ensuring housing development and reducing the deficit, announced plans to fish out and deal ruthlessly with government officials that frustrate and work against its efforts.
