The New Town Develop-ment Authority (NTDA) in Lagos state says it is seeking the involvement of banks, local and foreign investors in financing its housing project.
Mr Yemi Isiba, the NTDA General Manager, told the News Agency of Nigeria (NAN) on Monday in Lagos that this would enable the authority to cope with the increasing demand for houses.
“We are looking for investors to partner with us in a joint venture development. We are meeting with stakeholders on how we can design our schemes,” he said.
Isiba said that since the establishment of the NTDA in 1981, over housing 100 schemes had been executed.
He said in the next five years, the population of Lagos would be more than double of the present figure.
Isiba said that contrary to the general belief, “land is in abundance in Lagos state, the only issue is that population is concentrated in the Central Business District (CBD).
“Right now, NTDA is in the process of how to decongest the Central Business District (CBD) to the sub-urban areas.
“This is why we are trying to decentralise the population in these areas but our major constraint is finance,” he said. (NAN)
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