The Lagos State Government has issued a firm warning to homeowners found renting out their apartments at exorbitant prices, stating that they will face penalties for their actions.
This announcement was made by the state’s housing commissioner, Moruf Akinderu-Fatai, who emphasized that allottees engaging in such behavior would encounter severe consequences from the government.
According to Akinderu-Fatai, complaints from residents of various public housing schemes regarding the high rents charged by homeowners have prompted this action. He noted that the government’s intention in allowing allottees to make a five percent down payment and spread the remaining amount over ten years was to improve the living conditions of Lagosians. However, some individuals have been exploiting this opportunity solely for profit, contrary to the government’s objectives.
“The essence of asking allottees to make a five percent down payment and spread the remaining amount for ten years was to make life bearable for Lagosians,” stated Akinderu-Fatai. “But some people seem to be taking Mr. Governor’s magnanimity for granted.”
Akinderu-Fatai urged estate facility managers and association members to report any negligent allottees to the ministry, warning that the government would revoke allocation from those found guilty. He reassured the public that the State Government would continue to provide outright purchase and rent-to-own platforms to meet the needs of first-time homebuyers who require housing amenities urgently.
