….accelerates Investment In Housing Sector
The Commissioner for Housing in Lagos State, Moruf Akinderu-Fatai, has said the new tenancy bill will ensure a full protection of both tenants and landlords as well as reduce inhibitions to mass housing development for private investors.
Akinderu-Fatai stated this during the Public Hearing on Lagos State Tenancy Bill 2025.
He said that “as of today, there are issues surrounding the landlord and tenant relationship, this bill is intended to make sure that everybody knows his/her rights, the tenant is protected, the landlord is protected”
The Commissioner stated that the bill will create confidence for real estate investors and open up opportunities for new real estate financiers in the State.
According to him, the new tenancy bill will “escalate investment in the real estate sector and encourage investors to come in with confidence that when they build, their investment is well protected”.
The Commissioner applauded some of the highlights of the new bill, adding that it will protect the tenants from exploitation by estate agents.
He noted that the new suggestion to include virtual hearing in proceedings will aid the speedy dispensation of trials, adding that Alternative Dispute Resolution Agreement, when deployed, can also be enforced by the courts in case legal representatives chose the ADR option.
Akinderu-Fatai also reiterated the need for the new bill to ensure the provision of the existing law to “keep premises insured against loss or damage” by landlords is favourably reconsidered. He commended the new provision that expressly states the right of the landlord to inspect and maintain the premises, upon giving prior notice to the tenants.
