Federal And State Governments Agree On Monthly Rent Payment

Babajide Raji Fashola
Photos Credit: Getty

Nigerians may start paying property rent on a monthly basis going by the latest resolution between the federal and state government on the matter. The clamour for the monthly payment of rent by clients in the housing sector received attention at the recently concluded sixth meeting of the National Council on Lands, Housing and Urban Development. The council is the highest gathering of senior officials from the federal and state governments, as well as stakeholders and experts in the built industry.

At the meeting of permanent secretaries during the council, senior government officials from the 36 states and Federal Capital Territory, as well as those from the Federal Ministry of Power, Works and Housing (Works/Housing sector) agreed to enact a law that would allow monthly rental payments across the country. The Minister of Power, Works and Housing, Babatunde Fashola, also charged property developers to reduce their rents and the value of properties in consideration of the economic hardship across the country.

Photo Credit: Getty

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