• July 15, 2024

Nigeria Need to Re-evaluate Tenancy Regulation in States – Babatunde Fashola

 Nigeria Need to Re-evaluate Tenancy Regulation in States – Babatunde Fashola

By Ikugbadi Oluwasegun

Babatunde Fashola, the former minister of power, works, and housing has emphasized the need to reevaluate tenancy regulations in states, aiming to enforce landlords’ collection of rent on a monthly basis.

Fashola addressed the audience in Lagos on Thursday during the unveiling of his book titled “Nigerian Public Discourse: The Intersection of Empirical Evidence and Hyperbole”.

The former minister expressed concern about the excessive burden placed on tenants when they are required to pay rent in advance for up to three years or more. Fashola observed that the way rents are currently collected has resulted in a significant number of houses remaining unoccupied.

“That is not the only reason, but if you do not understand how dramatic and painful that three, four or five years rent has become to our nation, we have not consciously done anything to it,”

“Can we bring it down from three years to one year? Can we hopefully bring it down to six months? Can we let it coincide with when people get paid? At the end of the month instead of in advance?

“So accurate data will help us determine how many we are, what amount of water we need, what quantity of food, data makes this very important, accurate data therefore will be beneficial for us.
“Life without shortage of basic needs, like food, like water, like shelter and energy will be a good life, and data is critical to this objective.”

Leave a Reply

Your email address will not be published. Required fields are marked *