Lagos to Inject $500m into Housing Scheme

  •  Gives 7-day ultimatum for removing illegal structures on waterfront

Gboyega Akinsanmi

The Lagos State Government on Sunday disclosed that it had collaborated with a private investor to inject a whopping sum of $500 million into the Illubirin Housing Scheme on Lagos Island.

Consequently, the state government issued a seven-day ultimatum within which several shanties and illegal structures on the state’s waterfront should be demolished and removed without delay.

The state governor, Mr. Akinwunmi Ambode, revealed the state’s plan to bring private investment to Illubirin Housing Scheme when he visited the scheme alongside the Commissioner for Housing, Mr. Gbolahan Lawal, among other members of the State Executive Council.

At the inspection, Lawal debunked insinuation that the Illubirin Housing Scheme had been abandoned, saying that the project has been remodelled to accommodate 500 housing units.

Lawal disclosed that the state government had already collaborated with a private investor, who, he said, would invest about $500 million into the scheme, noting that the state government “has perfected plans to make the scheme a live, play and work environment.”