By Bilesanmi Abayomi
In a recent exclusive interview with KosofePost, Mayor Dele Oshinowo, the Executive Chairman of Agboyi Ketu Local Council Development Area (LCDA), unveiled the benefits of the newly commissioned Multiple Estates initiative. Contrary to some speculations, Oshinowo clarified that the project is a collaborative effort between the local council, a developer, and financial institutions, rather than a personal business venture.
Mayor Oshinowo emphasized that the land used for the estates is owned by Agboyi Ketu, marking the council’s contribution to the project, while the developer provided the necessary funding. Importantly, the project was executed without drawing on the council’s financial resources.
Highlighting the advantages of the initiative for the local council, Oshinowo explained that Agboyi Ketu LCDA is set to benefit from a equity share in any construction within the estates. Additionally, the council stands to generate internal revenue through the allocation process and the issuance of a Deed of Sublease, a requirement for homeowners to secure a certificate of occupancy from the Lagos State government.
Mayor Oshinowo, known for his open-door policy and commitment to public engagement, welcomed questions from concerned residents, reinforcing the transparency of the initiative.