The Member representing Oshodi-Isolo Constituency 01 in the Lagos State House of Assembly, Hon. Ogundipe Stephen Olukayode, has assured Lagosians that the new Tenancy Bill will soon bring satisfaction to both investors and residents.
Speaking as Chief Host while representing the Speaker, Rt. Hon. Mudashiru Ajayi Obasa, at the Public Hearing on the Lagos State Tenancy Bill 2025 held today at the Lateef Jakande Hall, Lagos State House of Assembly Complex, Hon. Ogundipe expressed optimism that the bill would foster harmony in landlord-tenant relations and stimulate real estate investment in the State.
The new tenancy bill, currently under consideration by the House, is designed to protect the rights of both tenants and landlords, reduce disputes, and remove barriers to large-scale housing development by private investors.
Hon. Ogundipe stated that once passed into law, the bill will put an end to many of the recurring controversies between landlords and tenants. “This bill will promote mutual understanding, clearly define rights and obligations, and ensure peaceful co-existence,” he noted.
He appreciated all stakeholders for their participation, highlighting that their contributions would help in shaping a progressive and balanced law. According to him, the bill will not only restore the confidence of real estate investors but also open opportunities for new financiers to enter the market.
Addressing newsmen on the bill’s content, Hon. Ogundipe said it contains provisions to protect tenants from exploitation by estate agents, including mandatory registration for agents and caps on commissions and agency fees. “This is in direct response to the complaints and yearnings of the public,” he added.
He also emphasized the need to review the existing legal requirement for landlords to insure their premises against loss or damage, while commending the new provision granting landlords the express right to inspect and maintain their property upon giving prior notice to tenants.
The Public Hearing was chaired by Hon. Ege Olusegun Adebisi, Chairman of the House Committee on Housing. Also in attendance were the Majority Leader, Hon Noheem Adams, Honourable Commissioner for Housing, Hon. Moruf Akinderu-Fatai; several Honourable members; Engr. Abdulhafis Toriola, Permanent Secretary, Ministry of Housing; directors and heads of departments from the Ministry; the Senior Special Assistant to the Governor on Housing, Esv. Ayodeji Amodu; and representatives from key real estate organisations, including the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Nigerian Bar Association (NBA), Real Estate Developers Association of Nigeria (REDAN), Association of Realtors, and the Real Estate Agents Association of Nigeria, among others.
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