Despite COVID-19, Lagos attracted over $620m DFI, says Sanwo-Olu —

Despite COVID-19, Lagos attracted over $620m DFI, says Sanwo-Olu

Lagos

By Patrick Okohue

Governor Babajide Sanwo-Olu has assured residents of Lagos State that his government will continue to do everything within its powers to attract investors with a view to creating more job opportunities and improving the lives of the people.

Sanwo-Olu said it was this determination that helped his government to attract about $600million investment into the state even during the seven months of the COVID-19 pandemic, adding that he will continue to do more in creating an enabling environment for investments to thrive in the state.

The governor who spoke at the Lagos State Real Estate Regulatory Authority (LASRERA), Policy Roundtable Dialogue with the theme: ‘International Best Practice on Real Estate Regulations,’ in Victoria Island, Lagos, said that though COVID-19 posed a serious challenge to investment and job creation, he is not ready to use that as an excuse for failing to make the lives of the people better.

According to him, “we want to tell you that from the point where we are, we are a level where we are consciously opening the economy.

Also, Sanwo-Olu assured operators in the real estate sector of the state that he is ready to work with them to address issues of housing deficit, with a view to creating an environment where housing will be easily accessed by residents of the state at affordable rate.

The governor said his target is to make residents of the state not have to pay their rents on annual basis. Sanwo-Olu said that partnership and good relationship between the state government and stakeholders in the real estate sector will help the people to live in a more suitable environment.

While charging real estate practitioners and investors to work with the Government to create a home ownership model that will help her address the deficits observed in housing market in the state, the governor raised concerns over the huge gap observed in the provision of mass housing to large number of residents, describing the situation as unacceptable.

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He said the state government was ready to bridge the gap by partnering the private sector and working with stakeholders to ensure people have access to viable home services.

While also challenging operators in the sector to work out modalities on how to migrate from annual rent payments by residents to monthly, Sanwo-Olu said his administration had started to identify big players in the real estate sector that can partner with the government to raise housing stock in the State, assuring that the state government was ready to provide enabling environment for the investors to put their finances in creation of viable housing market for residents.

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