Home » Headlines » Fashola Calls for Review of Tenancy Laws to Encourage Monthly Rent Payments

Fashola Calls for Review of Tenancy Laws to Encourage Monthly Rent Payments

by Vicky Oselumese
0 comment
Fashola Calls for Review of Tenancy Laws to Encourage Monthly Rent Payments

Former Works and Housing Minister, Babatunde Fashola, has advocated for the review of tenancy laws in states to make it mandatory for landlords to collect rents on a monthly basis.

Fashola made this call during the launch of his book titled “Nigerian Public Discourse: The Interplay of Empirical Evidence and Hyperbole” in Lagos.

Fashola highlighted the issue of housing surplus in rural areas and the subsequent housing deficit in cities, which forces people to rent houses.

He expressed concern over the practice of tenants paying rents for three years or more in advance, stating that it places a significant burden on tenants.

The former minister suggested that the collection of rents for extended periods should be discouraged.

He proposed reducing the rent payment period from three years to one year or even six months, aligning it with the monthly income cycle of individuals.

Fashola emphasized the importance of data in effective planning and decision-making.

He described data as the most valuable currency in the world, which cannot be printed by any central bank.

Accurate data, according to Fashola, is crucial for determining the country’s population, water and food requirements, and other basic needs.

At the book launch, a panel of experts discussed the significance of data in development.

They agreed that data should form the basis for policies and decisions that would positively impact the people.

The event was attended by notable personalities, including Presidential Chief of Staff Femi Gbajabiamila, former All Progressives Congress (APC) Interim National Chairman Chief Bisi Akande, and Lagos Deputy Governor Obafemi Hamzat.

The book launch also featured a review of the book by Opeyemi Agbaje, an author and academic.

This article was updated 3 weeks ago

BEFORE YOU GO...

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Copyright © – 2024 CIV DigiTech Media Ltd. All Rights Reserved