Lagos State government plans sinking fund for own estates’ upgrade

The Lagos State Government is planning a sinking fund for the renovation and upgrading of existing state-owned estates to meet the mega city’s goal of a 21st Century City economy.

Permanent Secretary of the Ministry of Housing, Mr. Wasiu Akewusola, who disclosed this yesterday in a virtual meeting with the resident associations and facility managers of various state-owned estates, said that the move would enhance the residents’ life in the estates.

Akewusola, who was represented at the meeting by the state Director of Estate, Mrs. Olayinka Patunola-Ajayi, decried the present state of some of the estates, stressing that the faded externals do not befit the Greater Lagos image. He said that the state government was committed to making the environment liveable for all the residents of the estates.

“We are working out a plan through which a sinking fund, comprising of contributions by residents, is made available for the upgrade,” he said.
Akewusola appealed to the resident associations and the facility manager assigned to work in each estate to do so harmoniously to achieve the set goals and objectives of the upgrading exercise.

He, however, said that henceforth, both the resident associations and facility managers would be signatories to the bank accounts meant for the maintenance of the joint facilities in the estates, urging residents who are defaulting in their payments to the state government or yet to balance their payments to pay up. as a task force will soon be empowered to help in enforcing outstanding payments.