Lagos State Governor, Mr. Babatunde Fashola SAN (2nd left) addressing invited guests, pre-qualified participants in the scheme and other stakeholders during the Third Draw to pick winners of the Lagos Home Ownership Mortgage Scheme (LAGOS HOMS) at the Blue Roof, LTV 8 Complex, Lateef Jakande Road, Agidingbi, Ikeja, Lagos, on Wednesday, May 7, 2014.
A total of 76 new home owners emerged on Wednesday, 7th May, 2014, after the completion of the Third Public Draw of the Lagos Home Ownership Mortgage Scheme (HOMS) with Governor Babatunde Fashola (SAN) declaring that the present administration has delivered on its promise to provide affordable homes to the people.
The Governor who spoke at the Blueroof Hall in LTV, Agidingbi explained that the state government has also made the homes available in the one, two and three bedroom apartment types and designed to fit into the different income brackets for people who have a source of income.
He recalled that right from his campaigns in 2007, what he had always promised was an affordable housing scheme and that is what he has been delivering, stressing that the homes are affordable because allotees can pay over a period of 10 years instead of once.
According to the Governor, a number of practical painstaking steps have been taken by his administration to ensure that the homes are affordable in every respect.
“It is affordable because the interest rate will not exceed 9.5 percent whatever happens to the Nigerian economy. Every mortgage payment you make every month is not into a bottomless pit but towards owning your own home”, he said.
He said the present administration has also taken practical steps to make the houses very affordable by putting a 25 percent discount on it after calculating the cost of the building and the land.
The Governor explained that his administration decided from the outset on the practical solution to the housing issue against the backdrop of current realities.
“For cynics who say we have not done low cost housing, I want them to show me where low cost land is, low cost cement and low cost iron rod and they must give us labour that is low cost and Naira that is low cost as well”, he said.
Reiterating that the state Government believes that the citizenry irrespective of their social status deserved the best, the Governor said it would be unfair to describe any class as “low cost people”.
“The people who elect me are not low cost people and I will not give them low cost houses and whether rich or poor, they are not low cost people and they deserve the best that their votes and taxes can give”.
According to the Governor, there is a clear difference between merely criticizing and articulating a practical solution to a problem and implementing same.
“Everybody can criticize the government but not everybody can see a problem, find a solution to it, design a solution, stay with it and implement it and see it grow gradually.
“We did not promise low cost, we promised affordable houses. Our opponents are too preoccupied with the embarrassment of their own failures that they are accusing us of what we did not promise.
“If our opponents can find the missing 20 billion Dollars, let them go and use it to build low cost houses. Then the people would have the choice of an alternative”, he noted.
Governor Fashola emphasized that he would rather stay with what is achievable and not propaganda as being dished out on national television with comparison with Martin Luther King Junior, Barack Obama and stay with what is practicable.
The Governor stated that through the monthly draws, the scheme and housing programme will get stronger and more reliable as it goes on and expressed the conviction that it has continued to increase hope for its residents with perseverance, stressing that through it, the state has stood in support of its residents against those who seek to make life difficult for them like the Omo Oniles.
He explained that young and old winners have emerged in the process with the prevalence of young winners who do not have to go through what his generation went through in terms of owning a home.
He maintained that the public draws process is just the beginning with a little over 31 emerging in the first draw and about 37 being successful in the second draw and that as the administration did promise to put 200 homes on the draws monthly, it is doing so without failingly.
“We have unfailingly complied with our commitment. We will continue to do whatever it is not to break that commitment. So month after month for the third month running, we have held these draws and incrementally winners are emerging”, he added.
The Governor who also spoke about one of the lucky allotees who shed tears of joy when her name was announced said the tears were her expression of emotions having finally been able to put a stop to her travails in the bid to own a home.
He urged successful allotees to faithfully and diligently fulfil their obligations under the mortgage scheme reminding that as they pay their monthly mortgage they are building homes for homeless people because it is money collected from them that would be used in building more new homes.
He added that with the way the scheme has been designed, in about seven or eight years, the State Government would not have to put any more money into the scheme because by then it would have become self financing by mortgage returns.
He said they also owe a duty to fulfil their obligations because if they failed to do so, the state would repossess the home but would refund the equity and that one of the reasons why the applicants were being prequalified was to ensure that only those who can afford to repay get the homes.
Speaking earlier, the Executive Director, Operations of the Lagos Mortgage Board, Mrs Bola Fashola said the board has handed over keys to some of the lucky allotees, adding that out of the 27 allottees at the March draw, 22 have made their 30 percent payments while for April, 11 allottees were successful and four out of them have closed the financial payments.
The list of the successful applicants and the scheme are as listed hereunder: A:Alhaja Adetoun Mustapha Scheme, Ijaiye-Ojokoro – 3 Bedroom Flat -Akanni Tunde Musibau (Mr) And Akanni Bukola Omolara (Mrs) – Co Applicants, Bello Taibat Keke (Mrs) Shittu Olayemi Olamide (Mr), (B)Choice Gargens, Abijo-Lekki – 2 Bedroom Flat- Dawodu Damola Ayoka (Miss)Duru Senami Chinanu (Miss)Obagun Abibayo Afolabi Lateefah (Miss)Obagun Abibayo Aflolabi Lateefah (Miss), 3 Bedroom Flat-Ajayi Olalade Jolade (Miss),Jegede Amoke Iteoluwakiishi (Mrs),Junaid Oluwakayode (Mr),Okungbowa Nosa (Mr),Olayokun Olanrewaju Asimiyu (Mr),Omogbenigun Olumuyiwa Oluwadamilola (Mr). C.Hon. Olaitan Mustapha Scheme, Ijaiye-Ojokoro – 3 Bedroom Flat-Obiwale Olusola Moses (Mr), Ojo Adejoke Moyosade (Mrs)
Others include Hon. Shotomiwa Estate, Igbogbo-Ikorodu – 3 Bedroom Flat- Asaba Ayokunle (Mr), Shittu Basiru Olaleye (Mr), E. Shitta Estate, Surulere – 1 Bed Room Flat,Adekanmbi Helen Olusola (Mrs),Aina Emmanuel Olajide (Mrs),Alakija Mausy Oluwabunmi (Ms), Bamigboye Adebimpe (Miss),Clegg Taiwo Olaide (Miss),Gbosu Samuel Friday (Mr),Shiteolu Yetunde Titilayo (Mrs), F.Shogunro Scheme 1, Ogba-Ikeja – 1 Bedroom Flat-Akanji Akinwunmi Olalekan (Mrs) Okon Princess Chinyere (Mrs), 2 Bedroom Flat-Abioye Peter Moloyeola (Mr),Adelaja Ejundayo Adeleke (Mr), Adeyemi Morounkeji Abosede (Miss), Damazio Oluwatobiloba Olajumoke (Mrs), Echebiri Christopher Ogbemudia (Mr), Egbon Edosa Victor (Mr) Ejemeyovwi Ovwigbh Emmanuel (Mr),Gbadamosi Mojirayo Rukayat (Miss),Ibu Charles Ibu (Mr) Idaewor Rachel Omomhoare (Mrs),Jamiu Kazeem Olashile (Mr),Kuforiji Olubunmi Folashade,(Mrs)Majolagbe Abiodun Owolabi (Mr),Majolagbe Agbolahan Lanre (Mr),Odoh Veronica (Mrs),Ogunleye Gbenga Adegbola (Mr),Ojediran Adeyemi Ojetunde (Mr),Okeke Chinedu Anthony (Dr),Okeke Chito Elizabeth (Mrs),Olakodo Tunde Idowu (Mr),Olowo Rabiu Onaolapo (Mr),Osinowo Titilola Inumidun (Mrs),Sosanya Samuel Olugbenga (Mr),Vaughan Adetola Susana (Mrs), 3 Bedroom Flat- Adebanjo Adeyemi Adetutu (Mrs),Ademodi Kolapo Kolade (Mr),Akanbi Olusola Micheal among others