By Lukman Olabiyi
Lagos State Government has said that ongoing demolition of illegal structures across the state may continue if developers refused to comply with all the necessary rules and regulations.
Head of Service, Bode Agoro, Commissioner for Housing, Moruf Akinderu-Fatai, Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide, Commissioner for Justice , Lawal Pedro and others revealed this at the 4th Lagos Real Estate Market Place Conference and Exhibition .
They affirmed that the ongoing demolition of illegal structures across the state has no political motivation or attempt to witch-hunt non-indigenes.
The two-day event was organised by the Lagos State Real Estate Regulatory Authority (LASRERA) to provide insight into the investment opportunities and threat in the sector.
The theme for the event was:”Real Estate Regulation: A panacea for disaster mitigation and recovery in the built industry”.
Agoro and others who were panellists at the event, said the only way issue of demolition of property could be abated is for the developers to adhere strictly to established rules and regulations.
The Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare in her contribution emphasized that professionals in the building sector must adhere to best practices in order to mitigate associated disasters in real estate investment, adding that following established guidelines and regulations is crucial to ensure the safety and resilience of buildings and infrastructure.
The Special Adviser averred that the state government is committed to promoting and enforcing best practices across the building sector by working closely with developers, contractors, and other stakeholders to ensure compliance and raise awareness about the importance of safety measures. She informed that real estate contributed 5.31 percent to the state’s GDP in the first quarter of this year.
“Real estate in Lagos has also displayed great potential to create jobs, bridge housing deficit as well as boost economic growth. This year alone the budget for affordable housing in Lagos was more than a billion,” she said.