Nigeria: Lagos Launches ‘Rent-To-Own’ Mass Housing Scheme

Lagos Rent-To-Own Hosing Scheme

Lagos — Following the on-going Lagos State Home Ownership Mortgage Scheme in the state, Governor Babatunde Fashola yesterday introduced Rent-to-Own policy to provide homes for its residents.

The Governor said the initiative was to encourage residents in the informal sector to participate in the housing scheme.

Fashola said research conducted by his team had revealed that traders, transport operators, traders, bricklayers, brick makers, fashion designers and others in the informal sector could conveniently pay for the homes located across the state.

The governor added that the ‘Rent-to-Own’ initiative would further make the scheme affordable for all and sundry, urging artisans to apply for their choice homes in the scheme.

Fashola said the government would, through the Lagos Mortgage Board ensure that artisans benefit from the scheme.

He added that the board would allocate block of flats to them in accordance with their monthly income and profit so as to enable them to take part in the scheme.

 

This post was first published on Daily Times NG HERE

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