Governor Babatunde Fashola of Lagos State on Tuesday said his administration would soon start a new policy that would enable Lagos residents to own their homes after paying rents for a specified period of time.
According to the governor, the new policy is known as “Rent to Own” initiative coming under the Lagos Home Ownership Mortgage Scheme. He added that the initiative would encourage more residents to participate in the state housing scheme.
Fashola said this during a special interactive session with artisans in the state in Ikeja, explaining that a research conducted by his team showed that traders, transport operators, bricklayers and fashion designers, among others in the informal sector could conveniently pay for the homes across the state.
He said, “The investigations indicated that most people in the informal sector could also afford the mortgage scheme, going by their monthly income and profit. So, the Rent to Own initiative will further make the scheme affordable for all and sundry.
“I urge you to apply for your choice homes in the scheme because government will, through the Lagos Mortgage Board, ensure that artisans benefit from the scheme. The board will allocate blocks of flat to you in accordance with your monthly income and profit to enable you take part in the scheme.
“What we need to do now is to help you order your record keeping in order for you to qualify. This is a new policy that is slightly different from the mortgage scheme itself, but will ultimately lead to mortgage. Your money will be saved monthly and put in the scheme.”
Fashola also took time to brief the participants on security measure put in place in the state and urged them to be involved in the Residents’ Registration and the Commercial Drivers’ exercises of the government.
Chairman, Lagos State National Union of Road Transport Workers, Alhaji Tajudeen Agbede, said average commercial drivers in the state could afford the homes and would participate in the scheme.
He said, “Commercial drivers earn between N45,000 and N70,000 monthly. This is a good development; the Rent to Own initiative will make the housing affordable to our members.”
Commissioner for Housing, Bosun Jeje, said the meeting was to encourage artisans to partake in the LagosHOMS.
Source- http://www.punchng.com/news/lagos-proposes-rent-to-own-home-policy/

Nice

Millitory zone (keep off!)

i pray make my landlord no read this news.......amen

..Nothing is impossible...we are waiting ,Front page thing

See Front-page..Fashola's picture is now Nyako..Chai,there is god ohhh

Double post. Sorry o

Ok, we will soon know the real owners of Lagos

flyca: Ok, we will soon know the real owners of Lagos

pls what ar u trying to insinuate ?

.

The only problem I have is that the scheme will be politicized. All those top guns having many houses before will still be the ones to benefit from the scheme, thereby defeating the goal of the scheme.
I long to see the day things will start working well in this country.

hmmm

Goos development from BRF.

All na wash. Its not gonna happen in Fashola's era. He has less than 1yr to pack his azsszz out of Govt. House

nice well fingers crossed

I was afraid ohh, I thought a tenant would pay for my own house and claim it, if u know the kind of fear I just experienced in 30 seconds ehhh, u will sue op. Not that I even have one in Lagos ohh but am working towards that.

abeg who carry toilet key?

mencade5: abeg who carry toilet key?

na andy

It's welcome!

But I wonder when this will be done as you have got about < 10 months

I like the phrase "will soon start" typical of fashola

BRAV0O: na andy

hmmm...hahaha...na wa for you oooo.

This is a very nice initiative that should be well embraced and commended, a lot of folks have been living in lagos for many years, paying enormous house rent year in year out, this means they can finally own the rented government property after some years, Kudos to Gov. Fashola may God in his finite mercy, gives us a leader like you in this country NIGERIA, continue to enrich and bless you with lofty ideas.

EKO O NI BAJE Oooo

Hmmm...i think fashola was the cause of germany beating brazil..7-1...SMH

E dey inside the toilet naaa

mencade5: abeg who carry toilet key?

mencade5: hmmm...hahaha...na wa for you oooo.

cool bro

TRADELYN: E dey inside the toilet naaa

tradelyn my oga...goodmorning...i no come hear from you again oooo. Wetin happen?

If I hear!!!

Landlords will learn how to evict tenants before they'll be able to own the house.

Maybe it can work for government properties.

But how many government residential houses are out there?

Rent to own indeed. Fashola with all this his smart ideas which he uses in robbing people. Land use no reach am again, na rent to own now.

Nonsense, bringing in new policies when his tenure is expiring soonest.

I didn't even get what he meant. After paying house rent for awhile, you automatically become d owner?...is dat wat he meant?

Interesting