The Lagos State Government yesterday initiated a rent-to-own housing policy, which it said, would basically step down 30 per cent equity contribution largely for artisans, traders and non-salary earners in the state. Also, the state government said the new policy would eventually lead to mortgage scheme, though it is designed to capture actors in the informal sector in Lagos Home Ownership Mortgage Scheme (Lagos HOMS). The state Governor, Mr. Babatunde Fashola (SAN), disclosed this at a town hall meeting on Lagos HOMS which he addressed at Lagos TV complex alongside the Commissioner for Housing, Mr. Bosun Jeje and his Commerce and Industry counterpart, Mrs. Olusola Oworu, among others.
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