The Lagos State House of Assembly is pushing forward a major reform to ease the financial strain on tenants, with the introduction of the Tenancy and Recovery of Premises Bill 2025.
Speaking after a public hearing at the Assembly complex in Alausa-Ikeja, the Chairman of the House Committee on Information, Security and Strategy, Chief Stephen Ogundipe, said the proposed law is designed to shield tenants from exploitation by estate agents.
A key highlight of the bill is the reduction of agency fees on annual rents from 10% to 5%, a move Ogundipe described as a direct response to mounting public complaints about excessive charges in the property market.
“The bill contains provisions that will significantly reduce the financial burden on accommodation seekers in the state,” Ogundipe noted, adding that the legislation will also restore confidence among real estate investors and attract fresh financing into the housing sector.
If passed, the bill is expected to bring relief to thousands of Lagos residents navigating the city’s competitive rental market while fostering a more transparent and fair housing system.
Writing by Wahre Bello