The Lagos State Governor, Babajide Sanwo-Olu, on Thursday urged stakeholders in real estate sector to work out modalities for the monthly payment of house rents by tenants in the state.
The governor made the call during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector in Lekki.
The roundtable was organised by the Lagos State Real Estate Regulatory Authority (LASRERA).
The governor decried a situation where residents face pressure once their rents were due, saying housing deficit in Lagos was huge and urged private practitioners to play by the rules.
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Sanwo-Olu said: “The real estate can contribute 20 to 25 percent to the GDP. We need to have clear data where landlords would no longer be demanding one year rent ahead.
“Landlords should see how they can reduce yearly rent to monthly. The housing deficit in Lagos is huge and unacceptable, but the government cannot do it alone.”
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