Lagos plans to reduce fraud in real estate sector

Prince Gbolahan Lawal.jpg

Faced with concerns on the activities of land grabbers, Lagos State government has pledged to bring to the barest minimum illegal and fraudulent activities in the .

Lagos Commissioner for , Prince Gbolahan Lawal, who disclosed this at the second Stakeholders’ Forum in Ikeja, said the state would not tolerate activities of fraudulent real because matters of real estate are of great concern to the government.

While expressing worries over the rising housing deficits in the state, Lawal noted that the authorities plans to reduce housing deficits, which has hit the three million mark, by providing 20,000 housing units in the next four years.

He pleaded with stakeholders in the real estate industry to cooperate with the government to make Lagos investors’ friendly.According to him, the fact that Lagos is Nigeria economic hub has made it susceptible to influx of people, which in turn put continuous pressures on the state’s infrastructures.

To reduce
The commissioner stressed that about 87 people enter Lagos per hour on daily basis, which has led to unusual pressure on land and housing infrastructural facilities. “This, has led to inadequate housing and increasing number of slums in the state. “Today, the state has about three million units of housing deficit”, he said.

The commissioner further disclosed the appointment of facilities managers for both old and new housing estates, stressing that with such appointments, the tide of continuous depreciation in values of such houses would be stemmed.Also Governor Akinwunmi Ambode’s special adviser on housing, Mrs. Adebimpe Akinsola, decried the negative effect of fraudulent practices in Laagos’ real estate sector.



Guardian