This scheme is better known as Lagos State Home Ownership and Mortgage Scheme. It is basically aimed at providing affordable and convenient apartments for Lagos residents with a legitimate source of income, to enable them pay in instalments just like mortgages that operate abroad. This scheme was initiated by the former Governor of Lagos State in person of Akinwunmi Ambode who laid the blue-print of the scheme to which the current Lagos State Government Governor Babajide Sanwo-olu is making a reality. The scheme is administered by the Lagos State Ministry of Housing.
The scheme set as beneficiaries, all Lagos State residents with a pliable source of income irrespective of your tribe, state of origin, religious, political leanings or social strata. This unbiased scheme will have as priority Civil servants in Lagos State ministries and parastatals but credence will also be given to other applicants. The beneficiaries are; salary earners with minimum monthly net pay of ₦70,000.00, self-employed engaged in a productive vocation for a reasonable time, for example business owner, Founder, Director, Chairperson or President of such business/enterprise. Professionals that can be engaged as consultants like IT, HR, Medical Doctors, lawyers, realtors, Accountants, Stockbrokers etc.
CONCLUSION
This scheme is a laudable one, a prayer answered to many Lagosians who believed considering his/her income and indigeneity, owning a property in Lagos will simply be a mirage. The scheme is capable of living up to its expectation and surrounding realities if it is done objectively devoid of nepotism and favoritism from all quarters.
Olympus Law Partnership