Fedral Housing Authority Begins Rehabilitation of Festac Town Roads

The Federal Housing Authority (FHA) has initiated the rehabilitation of roads in Festac Town, Lagos, starting with the 1st Avenue. During an inspection on August 22, 2024, FHA Managing Director Hon. Oyetunde Ojo emphasized the phased approach to the road rehabilitation and the Authority's commitment to restoring the town's former glory. He urged residents to cooperate with the FHA, particularly by paying statutory fees, as the Authority is no longer funded by the government and relies on property-generated revenue.

Hon. Ojo also highlighted the ongoing verification exercise aimed at updating FHA's database with accurate property ownership records. This is part of the Authority's move towards digitalization to ensure better management and security of information. The MD pointed out that only about 50% of the 23,000 FHA-approved properties in Festac have been verified so far.

Regarding the rehabilitation, Hon. Ojo outlined plans for improvements, including the demolition and reconstruction of the 1st gate, removal of illegal structures, installation of solar street lights along 1st Avenue, and road repairs. He also noted the need for residents to settle outstanding mortgages on their properties, which had a 30-year payment period.