Nigeria: Lagos to Deal With Fraudulent Estate Agents

12 May 2021

The Lagos State government has vowed to deal ruthlessly with real estate agents who exploit and defraud residents, saying that their days are numbered.

The Special Adviser on Housing to the Lagos State Governor, Mr. Babajide Sanwo-Olu, Mrs Toke Benson-Awoyinka, stated this during a press briefing to commemorate the second year in office of the governor.

Benson-Awoyinka said: "The State Executive Council has approved two critical bills as part of the state government's efforts to sanitise and rebuild the industry. The bills are the Mortgage Foreclosure Law and the Lagos State Real Estate Regulatory Authority's Bill 2021."

She reeled out different measures put in place by the government to curb the excesses of practitioners in the housing industry and also vowed that the Sanwo-Olu's administration would not leave any stone unturned in order to make sure residents get value for their money in the housing industry.

She said: "The proposed bills have been forwarded to the State House of Assembly. The bills are currently awaiting the endorsement of Mr. Governor before finally becoming laws."

The Lagos State Commissioner for Housing, Mr. Moruf Akinderu-Fatai, also disclosed that the state government has successfully completed 14 housing schemes within two years.

Akinderu-Fatai said that some of the completed schemes included the Lateef Jakande Gardens in Igando; the Lagos State Affordable Public Housing Scheme, Idale Badagry; the LAGOSHOMS Lekki Phase 2; the Babatunde Raji Fashola Estate and the Courtland Villas Igbokushu among others located across the state.

He added that four of the estates have been completed and waiting to be commissioned at Odo Onosa Ayandelu, Agbowa, Magodo/Omole, Gbagada and Ibeshe.

The commissioner disclosed that 21 schemes are being constructed through the budgetary allocation and joint ventures in various parts of the state.

He also revealed that the homes being provided are for both low and high net worth individuals and are located in all parts of the state such as Igando, Igbokusu, Lekki, Badagry, Igbogbo, Odo-Onosa/Ayandelu, Agbowa, Sangotedo, Epe, Ilubirin, Epe and Egan- Igando.

Akinderu-Fatai said: "Based on the all-inclusive stance of the Sanwo-Olu-led administration, there are completed and ongoing projects in all parts of the state and all categories of residents have the opportunity of accessing the housing provision."

He hinted that the state government is already engaging multinational development partners for the construction of mass housing units in the state.

The commissioner commended Sanwo-Olu for his passion to ensure that a greater number of residents would achieve their dream of becoming homeowners.

Akinderu-Fatai also appealed to private sector developers to actively partner with the state government in the provision of more homes for the citizens due to the rapid population growth of Lagos.

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