The Federal Housing Authority is opening up a new city in FESTAC town with hopes this new city will attract investors from the diaspora and create job opportunities for hundreds of Nigerians.
Senior Correspondent Sarah Ayeku visited some parts of the new site, she reports that reclamation work has begun on the new Festac town in Amuwo-Odofin local government area of Lagos.
The Federal Housing Authority is really stepping up to provide housing options to not just the housing population in Nigeria but the diasporan market.
The authority is looking a new FESTAC.
The FHA has the intention to develop new areas, cities, and corridors with the hope of making it easier for Nigerians to find decent and affordable places to live.
Lagos, being the economic hub of Nigeria, faces a significant housing deficit and having new estates with the right infrastructure will surely address this deficit.
Interestingly, the 1,126 hectares of land earmarked for development under this new scheme has a rich history.
It was originally part of the vast land acquired by the government for the iconic Festac 77 event in 1976.
Houses on this stretch have been earmarked for demolition. One would have thought the red markings on completed buildings would stop what the Federal housing authority calls illegal structures.
Some of these buildings are susceptible to collapse due to the soil conditions.
With the reclamation work and the development of new estates with modern infrastructure underway, Festac Town is poised to regain its former glory, attracting investors and creating jobs for hundreds of Nigerians.
