Hamzat pledges affordable housing, better transport

Lagos All Progressive Congress candidate, Obafemi Hamzat

The All Progressives Congress governorship candidate in Lagos State, Obafemi Hamzat, has promised to expand the state’s transportation infrastructure and introduce long-term mortgage arrangements to make housing more affordable for residents.

Hamzat made the pledge during the Lagos Governorship Debate on Sunday, while responding to a question on why residents continued to experience economic hardship despite the state’s enormous wealth.

He acknowledged the financial difficulties facing Nigerians, citing the rising prices of essential commodities and petrol, but argued that the state government could intervene in key sectors to ease the burden.

“Because Nigeria is undergoing a corrective session financially, things are a little bit tough for people. Long-grain rice, for example, is N66,000, and petrol is N1,600. That’s high, but the levers that the state government can control are housing, agriculture and transportation,” he said.

On transportation, Hamzat said his administration would prioritise an integrated network of road, rail and water transport to facilitate the movement of large numbers of commuters across the state.

“That’s why we have a plan to complete the Blue Line up to Agbado and the Red Line to link it up. We have already shown you the development of the terminal, which we normally call our Trade Fair terminal. It is to move people en masse,” he said.

He added that Lagos, being a water-bound state, needed to maximise its waterways as part of efforts to improve public transportation.

“Lagos is a water state, and therefore we must turn the lagoon into a waterway. The idea is to build rail, road and water transportation so that they are all connected and move people en masse,” he said.

The Lagos State deputy governor also said the state’s transportation plan included the provision of 34,000 new compressed natural gas-powered buses to improve mass transit.

On housing, Hamzat said Lagos had recorded the development of 24 housing estates comprising 18,000 housing units in the last eight years.

He said his administration would introduce mortgage arrangements requiring prospective homeowners to make a 10 per cent initial payment and spread the balance over 25 years.

“Our plan is to make sure that we don’t buy houses the way we buy yam and rice. That is to make sure that we have mortgages with a 10 per cent down payment and a 25-year payment plan, so that people can pay over time,” he said.

Hamzat added that the arrangement would complement ongoing housing projects across the state, which he said would be completed to provide more accommodation for residents.

He cited ongoing developments, including the Ibeshe Housing Estate, which he said had 2,700 units, alongside other housing schemes.

According to him, the mortgage system would address the difficulty many residents face in raising the huge sums required to purchase houses outright.

He argued that spreading payments over an extended period would make homeownership more accessible to Lagosians.