The Lagos Building Investment Company Plc is restrategising towards creating more affordable mortgages for Lagos residents in 2021.
The Chairman Board of Directors of LBIC, Mr. Hakeem Ogunniran said this shortly after the company’s 15th annual general meeting on Tuesday.
He said that the next fiscal year would reveal a new design framework that would not only solve Lagosians’ housing problem but also provide dividends for its shareholders.
Despite the challenges that both private and public sectors faced in 2020, Ogunniran said that the New Year would usher in hope for many Lagos residents who are desirous of having their own homes.
In his comment, the Managing Director of the company, Mr. Oluwatobiloba Lawal said that there was steady improvement in LBIC and that the present management would capitalize on the positive development for a greater leap in the coming year.
“The much await dividends for our shareholders will definitely come. Our intention is to utilize the resources at our disposal optimally to bring the dividends,” he said.
He noted that the company would target mostly the civil servants whose wages are not big enough to acquire homes. “There are many government’s estates that are under the management of LBIC. We will unlock the economic value in those estates to get more shareholders,” he said.
During the meeting, the company re-appointed Akapo and Partners as its external auditors and re-elected retiring directors with their remunerations and fees of the directors unanimously fixed at N6.8 million.