Lagos State Government has said that it will deliver 14,187 housing units across the state in the next two years through joint venture partnership.
The Commissioner for Housing, Mr. Gbolahan Lawal, stated this at the ongoing 2018 ministerial press briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration.
He said by this initiative, the state intends to provide 20,000 housing units over a period of four years spanning 2017-2020.
“This initiative is implemented through a joint venture arrangement between the state and the private investor/joint venture partner. Under this initiative, the state provides land, the documentation in terms of permits, approvals, registration of documents and stamping as its own contribution while the joint venture partner provides funds and construction expertise as its contribution,” he said.
According to him, the Special Purpose Vehicle (SPV)/Project Company is made up of both parties and that the shareholding would be based on the value of the equity contribution of the parties.
Besides, the Lagos State Government yesterday commenced the urban regeneration of Ikoyi, Victoria Island and Ikeja Government Reserved Areas (GRAs), with the unveiling of 45 new road construction equipment and commissioning of newly-interlocked road in Lekki.
The equipment, which include three road printers and three giant wheel leaders, among others, were unveiled after a public demonstration to the media and government functionaries to complete the construction of interlocked road in Joseph Hotounu Street, Lekki.
Governor Akinwunmi Ambode, who spoke at the unveiling, represented by Commissioner for Physical Planning and Urban Development, Mr. Rotimi Ogunleye, said the new equipment were procured in line with efforts to reposition the Lagos State Public Works Corporation for the urban regeneration programme aimed at addressing environmental and infrastructural challenges in Ikoyi, Victoria Island and Ikeja GRAs.
Ambode said the equipment would be immediately deployed across the state for the urban renewal initiative, saying that they would go a long way in ensuring the regeneration of the entire Lagos landscape.
Also, Secretary to the State Government, Mr. Tunji Bello, said the paving stone machines and road printers were acquired to basically construct roads that would last longer considering the state of the Lagos environment being waterlogged.