Speeches

Commissioning Of Aso Savings & Loans Bank Plc Branch At Construction House, 18, Adeyemo Alakija Street, Victoria Island, Lagos

Apr 14, 2009 - The issue of shelter as an indicator of human development has been a priority with governments in the developed and developing economies. It is a fundamental right for every person to have shelter and a place to call home. It was in realization of this fact that government has tried to put in place strategies that will assure standard housing for the majority of our people.

I am, therefore, happy to welcome the Chairman, Board of Directors, Executive Management and Staff of Aso Savings & Loans Bank Plc to the Centre of Excellence, Lagos State, the veritable centre for commerce and industry in Nigeria and the ECOWAS Sub Region.

It is common knowledge that for decades we have been operating a cash based economy in Nigeria due to our traditional social systems, perhaps, sometimes apathy and inadequate enlightenment on the benefits of a savings culture in formal institutions among our people. I am happy to note that the situation is changing gradually, especially with the development of technology that has made banking in Nigeria more customer-friendly and dynamic with the introduction of Automated Teller Machines (ATM) for the dispensation of cash without entering the Banking Hall.

Our financial sector has definitely injected some confidence in the populace even in the face of the crises rocking the same sector in other nations. Lagos State has a population of about 18 million and more than half of them have acquired the habit of saving their money or building their investments with support from the Banks. With the emergence of the sub-banking institutions many are becoming more interested in creating wealth and building investments by patronizing these financial institutions.

I would therefore expect Aso Savings & Loans Bank Plc to live up to its Vision and Mission Statement in giving quality service to the banking public in the State, especially in the area of mortgage lending.

Our administration has provided various platforms for collaboration with the Private Sector in the provision of social infrastructure for the benefit of our people. There is a huge market for mortgage banking in Lagos State as our people have embraced the Sites and Services Scheme of Government Land Allocation and Privately Developed Estates to build and own their homes according to the approved specifications. We believe that all these efforts will, to a large extent, help in curbing the menace of collapsing buildings with the attendant anguish and social trauma.

It is expected that the population of Lagos State will peak at 25 million by 2015; therefore, there is a need to provide adequate housing for residential, commercial and industrial use before then. Government cannot do it alone, which is why our administration is inviting you to key into our strategy by providing relevant mortgage packages to the banking public who desire to develop their own property.

I congratulate the Chairman, Board of Directors, Executive Management and Staff of Aso Savings & Loans Bank Plc and welcome you to Lagos State. I assure you that our doors are open to everyone who is willing to join hands with us in the development of the Mega City of Lagos State and make life more rewarding for our people. You can be sure that there is a huge market here for you and a high net worth dividends on your investment. As a government, we assure everyone that we shall continue to invest in infrastructural development of the state so that Lagos will be the choice bride for investors.

Thank you for listening and God bless.

Eko O Ni Baje O!

Babatunde Raji Fashola, SAN
Executive Governor,
Lagos State