Fund new Mortgage Scheme, Architects urge Lagos

The Nigerian Institute of Architects on Tuesday urged the Lagos State Government to adequately fund its new Mortgage Scheme.

This is contained in a Communiqué issued at the end of the Lagos Architects Forum 5.0, signed by Mr. Ladipo Lewis, Chairman, NIA, Lagos Chapter, and its Secretary, Mr. Bayo Ogunmefun.

The forum with the theme “Architecture and Real Estate Development,” noted that funding the new mortgage scheme would enable the government take care of the housing deficit in the State.

“There is a massive housing shortage in Lagos State for the low and medium Income classes.

“This situation is caused by lack of an effective mortgage system, inadequate provision of finance and difficult access to land.

“We believe that funding the new scheme will help the low and medium income earners in both the formal and the informal sectors of the economy,” the communiqué said.

It also urged the State Government to make procurement of Certificates of Occupancy and Governor’s Consents easy.

The communiqué said that the State Government should either adopt the National Building Code or evolve its own State Code, to stem building failure and collapse.

It suggested that the state should put in place policies that would encourage continuous development of quality Hotels of various standards.

The communiqué said that this was necessary because of the mega-city status of Lagos and its economic importance in the country and the West African Sub-Region.

It, however, stated that there should be deliberate state government interventions to ensure hotels charge globally acceptable lodging rates, to encourage continuous attraction of tourists and investors.

The communiqué also said that the government should intensify efforts in the development of more infrastructure in both urban and the hinterlands, in line with what obtains in developed cities worldwide.

Source: Punch Newspaper