Business

Fashola seeks monthly rent payment, urges states to enact laws

Minister of Works and Housing, Mr. Babatunde Fashola, on Thursday advised state governments to enact laws to make mandatory monthly rent payment to make housing more available to Nigerian masses.

Fashola made the call at the 10th Meeting of the National Council on Lands, Housing and Urban Development in Ikeja, Lagos.

The theme of the meeting was “Housing Development as a Catalyst for Job Creation, Social Inclusion and Economic Development.”

He said that it was difficult to remove inequality in any society or nations but commitment of governments could reduce the ratio.

“We may not be able to make all people homeowners, but we can reduce the number of those who lack shelter or live on the edge so often when rent is falling due.

“I am sure that our country will be a much better place when three years rent in advance, two years rent in advance or one year rent in advance for middle class and working family residential homes becomes monthly rent, payable at the end of the month.

“Why we may not get there immediately, this is an area of immense exclusion that we can remedy by legislative action at state level.

“This is a matter in which the Federal Government has no legislative competence. It is a matter for the states, and I urge you not to turn your backs,” he said.

He said economic indicators showed that payment for a year or more in arrears affected affordability thereby increasing shelter gap, hence the need for legislation.

“All state legislators must see this as an important area of representation of their people to make life easier.

“So must governors and commissioners through executive bills,” Fashola said.

He also appealed to states to make processes of obtaining construction permit or planning approval documents less cumbersome to improve the nation’s ease of doing business rating.

Editor

Recent Posts

Adeleke to pardon man sentenced to death for stealing fowl in Osun

Osun State Governor Ademola Adeleke has promised to pardon a resident of the state, Segun…

28 seconds ago

NUC approves marketing, anatomy, 8 other programmes for KWASU

The National Universities Commission (NUC) has approved 10 new programmes to be run by the…

35 mins ago

Woman gets N500,000 reward for returning FG’s N748,320

The Katsina State Government has rewarded a woman, Amina Abdulkadir-Yanmama, with N500,000 for returning N748,320…

1 hour ago

Tight security in NASS as Tinubu sets to present 2025 budget

Security has been beefed up at the National Assembly complex ahead of the presentation of…

1 hour ago

NBS: 2.2m Nigerians abducted as victims paid N2.2trn ransom in one year

The National Bureau of Statistics (NBS) has disclosed that 2,235,954 Nigerians were abducted by gunmen…

4 hours ago

All-Share Index crosses 100,000 mark at stock market

The Nigerian stock market has maintained its positive momentum with the All-Share Index crossing 100,000…

4 hours ago

This website uses cookies.