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He said faced with the competing demand and limited resources, ''we are focussed by prioritising our programmes and redirecting the implementation of our housing programmes to private sector participation in the provision of mass housing.
We are convince that the future of housing delivery should be private sector- driven with government strengthening the operational environment and legal framework for private sector participation.''
The governor stated that such collaboration with the private sector would not just ensure the provision of sustainable human settlements, but would also increase productivity, reduce operation cost and attract private capital.
According to him, the result is that the public got quality and affordable houses and the private sector , new business opportunities.
Fashola said over the years, the sectoral challenges that bedeviled housing delivery propgrammes was rooted in lack of finance and high cost of building and infrastructural development.
'' Out of these factors, finance is the most critical ; both for housing production and home acquisition . The mortgage market which should provide finance for home ownership had been stifled by federal laws and rates.
'' Furthermore, the neck breaking confidentiality and red- tapism involved in accessing mortgage loan had made it unattractive,'' adding that towards this, the Lagos State Mortgage Bill was promulgated .
" In order to further regulate aspect of consumer loans acquisition of property in the state, we have concluded plans to set up Mortgage Board to give legitimate hope of home ownership to our people and ensure that low income citizens have access to these houses.''
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