Lagos Building Investment Company Plc (LBIC) has expressed its readiness to work with Governor Babajide Sanwo-Olu’s administration by ensuring that Lagosians have access to affordable houses.
Mr Hakeem Ogunniran , Chairman, Board of Directors of LBIC, disclosed this to journalists after paying a courtesy visit to Governor Sanwo-Olu at Lagos House, Ikeja on Tuesday.
In a statement signed by the Chief Press Secretary to the Governor of Lagos State, Mr Gboyega Akosile, Ogunniran disclosed that LBIC already had an N1billion funding from the Federal Mortgage Bank adding that the company had an ongoing 340,000 housing units project in Surulere, which he said would be an addition to housing projects in the state
“We are on a courtesy call on Mr. Governor. First, to appreciate him for giving us the opportunity to serve and also to share with him our vision and programmes, and how we want to work with the government to key into the developmental agenda of Lagos State” he said
“As LBIC, we understand that housing is at the root of all the programmes of Lagos State and we have a programme in place. First is to focus on our core business, which is mortgage banking.
“Recently, Lagos State returned to the National Housing Fund (NHF) and we are grateful that the state government has appointed our bank – LBIC – as the sole mortgage provider, so we are the default mortgage provider for all civil servants in Lagos State” he disclosed.
“So we are creating the framework to implement that. We already have funding from the Federal Mortgage Bank of N1billion and we need to begin to see how civil servants in Lagos State will be able to access that funding and own their homes.”
“We have started a PPP programme. The other element of our programme is to unlock value in our assets, which is sitting, either as our own direct asset or Lagos State Government asset. Already we have a programme ongoing now at Surulere, being 340,000 housing units, which will add to the stock of housing in Lagos State and further reduce the deficit” Ogunniran said.
“So as a board, we understand the significance of our role and our plan is to work with management to ensure that we build a framework that enables us to support the Lagos State Government and deliver on its promise to the citizens.”
Also speaking the Managing Director and Chief Executive Officer of LBIC, Mr. Tobi Lawal, said the company would provide mortgage for housing in Lagos State, particularly for civil servants and citizens of Lagos State.
“For us, there is a revolving fund which Mr Governor just mentioned. This fund is going to be created in such a way that people, particularly the civil servants will have access to money, facility to buy those houses that they like to buy and in such a way that the proceed of that sale will be invested in building another housing for other people” he said
“So for us as a primary mortgage bank, we are ready to perform our role in this regard and I can assure you that not only in terms of money that we are providing, even speed that the process will be so fast.
“So the housing you need today, the money was paid yesterday. So I am using this medium to appeal to every citizen who wants a house of their own that they should come to LBIC for the needed mortgage facility” he added.