New House Owners Emerge In Lagos Public Draw

A total of 76 new home
owners have emerged after the completion of the third public draw of the Lagos State Home Ownership Mortgage Scheme (HOMS) on Thursday.
The Lagos State governor, Babatunde Fashola had at the event declared that his administration had delivered on its promise to provide affordable homes for the people.
According to him, the apartments were designed to fit into the different income brackets for people of different class who had a source of income.
Fashola, who spoke at the Blueroof Hall of LTV, in Agidingbi, explained that the state government had also made the homes available in the set of one, two and three-bedroom apartment types.
He recalled that right from his campaigns in 2007, what he had always promised was an affordable housing scheme and that was what he had been delivering, stressing that the homes are affordable because allotees could pay over a period of 10 years, instead of once.
According to Fashola, a number of practical painstaking steps have been taken by his administration to ensure that the homes are affordable in every respect.
“It is affordable because the interest rate will not exceed 9.5 per cent, whatever happens to the Nigerian economy.
Every mortgage payment you make every month is not into a bottomless pit, but towards owning your own home” he said.
The governor maintained that the present administration had decided to take practical steps to make the houses affordable by putting a 25 per cent discount on each apartment, after calculating the cost of the building and the land.
Fashola stated that his administration has also decided from the outset on the practical situation to the housing issue, against the backdrop of current realities.
He said “for cynics who say we have not done low cost housing, I want them to show me where low cost land is, low cost cement and low cost iron rods, and they must give us labour that is low cost and naira that is low cost as well”.
Reiterate that the state government believed that the citizens, irrespective of their social status, deserved the best, Fashola said it would be unfair to describe any class as “low cost people.”
According to him, the people who elected me are not low cost people and I will not give them low cost houses and whether rich or poor, they are not low cost people and they deserve the best that their votes and taxes can give.