A member of the Lagos State House of Assembly, Mr. Stephen Ogundipe, has said the proposed Tenancy Bill currently under consideration is aimed at protecting tenants from exploitation by estate agents while fostering better landlord-tenant relations in the state.
Ogundipe, who chairs the House Committee on Information, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday, a day after the Assembly held a public hearing on the bill.
He explained that the legislation was a direct response to public complaints about high agency fees and other financial burdens faced by accommodation seekers in Lagos.
One of the key provisions of the bill is the reduction of agency fees on annual rents from 10 per cent to 5 per cent, a move Ogundipe said would ease the financial strain on tenants and encourage more investments in the housing sector.
“The new bill is designed to protect the rights of both tenants and landlords. It will also reduce disputes and remove barriers to large-scale housing development by private investors,” he said.
Ogundipe added that if passed into law, the bill would end recurring controversies between landlords and tenants, promote mutual understanding, and clearly define rights and obligations for peaceful coexistence.
He also stressed the importance of reviewing legal requirements for landlords to insure their premises against loss or damage and noted that the proposed law allows landlords to inspect and maintain their properties, provided they give prior notice to tenants.
Wednesday’s public hearing was attended by Mr. Olusegun Ege, Chairman of the House Committee on Housing; Mr. Noheem Adams, House Majority Leader; and Mr. Moruf Akinderu-Fatai, Lagos State Commissioner for Housing.
Ogundipe thanked stakeholders for their contributions, saying their inputs would help shape a balanced and progressive tenancy law for Lagos.
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