All Progressives Congress governorship candidate Obafemi Hamzat has outlined plans to overhaul public transit and introduce long-term mortgages in a bid to ease the cost of living for Lagos State residents.
Speaking at Sunday’s Lagos Governorship Debate, the sitting deputy governor addressed public concerns over economic hardship, emphasizing that targeted state interventions in transportation and housing can alleviate financial pressure on everyday citizens.
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Hamzat acknowledged the national economic climate, pointing out that essential commodities and fuel prices have surged during the country’s ongoing fiscal adjustments, with petrol reaching N1,600 per litre and long-grain rice climbing to N66,000. He argued, however, that the state government retains decisive leverage in key sectors like agriculture, urban transit, and shelter.
To improve mobility across the metropolis, Hamzat detailed a multi-modal transport strategy combining rail, road, and waterways designed to move commuters efficiently on a mass scale.
“Our objective is to deliver a fully linked transit system connecting rail, road, and water to move people en masse,” Hamzat said. “That is why we are committed to extending the Blue Line through to Agbado and linking it with the Red Line, alongside key hubs like our Trade Fair terminal. As a coastal state, we must fully transform our lagoons into vibrant commuter waterways.”
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The administration’s transit agenda also includes rolling out 34,000 compressed natural gas (CNG) buses to boost the public transport fleet.
Turning to housing, Hamzat pointed to the state’s track record of delivering 18,000 units across 24 estates over the last eight years. To make future developments more accessible, he proposed a structured mortgage framework featuring a 10 percent initial deposit and a 25-year repayment window.
“Our goal is to ensure people do not have to buy homes the way they purchase rice or yam in the market,” he said. “With a 10 percent down payment spread over a 25-year plan, homeownership becomes achievable over time.”
Hamzat noted that this financing model will support ongoing state housing developments, including the 2,700-unit Ibeshe Housing Scheme, eliminating the barrier of lump-sum cash purchases for prospective homeowners across Lagos.
