The Governor of Lagos State, in collaboration with Access Bank Plc, has announced a joint effort to provide 704 affordable housing units for low-income residents in Odo-Nla, Ikorodu. This initiative aims to address the housing deficit in the state by offering two-bedroom apartments with accessible mortgage options. The governor stressed the importance of tackling the global housing crisis, citing alarming projections by the United Nations. The project, a Public-Private Partnership, will require beneficiaries to make a 10% down payment with a single-digit interest rate and a repayment period of up to 20 years. The governor highlighted the economic benefits of the project, such as job creation and stimulating the construction value chain. To encourage more private sector involvement, incentives like rebates on permits and tax incentives will be provided. The governor expressed gratitude to Access Bank for their innovative financing model and emphasized the collaborative effort needed to address challenges like affordable housing. Timely delivery of the housing units is promised within the next 24 months.
Lagos, Access Bank partner to deliver 704 housing units
