Babajide Sanwo-Olu, the governor of Lagos State, has approved a bill regulating real estate transactions in the state.
On Monday, the governor signed the bill at the Executive Chamber of the Lagos House in Ikeja.
Moruf Akinderu-Fatai, the state’s Commissioner for Housing; Moyosore Onigbanjo, the Attorney General and Commissioner for Justice; and Toke Awoyinka-Benson, the governor’s Special Adviser on Housing, were among those present at the signing.
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The bill to regulate real estate transactions in Lagos State, according to Governor Sanwo-Olu, will serve to protect the public, particularly the unwary Lagosians who fall prey to numerous real estate experts.
He also added that the law will also help players in the real estate sector to know what is expected of them and for government to be able to track who is doing what in the sector.
“It is really around ease of doing business and ensuring that we can continue to attract private sector investments into the real estate space. We believe this law would be the very first in the country that has taken a deep dive into what is happening in that space and it further strengthens our intervention in housing through the Ministry of Housing,” Sanwo-Olu was quoted as saying.
