The Oyo State Government has opened talks with the Estate Rent and Commission Agents’ Association in a bid to address escalating rents and curb alleged commission extortion within the state’s housing sector.
This was disclosed in a statement issued on Thursday in Ibadan by the Commissioner for Information and Civic Orientation, Dotun Oyelade.
According to Oyelade, the engagement, which took place on Wednesday, was aimed at protecting tenants and sanitising real estate practices across the state. The government delegation was led by the Commissioner for Lands, Housing and Urban Development, Mr Williams Akin-Funmilayo, while the association was represented by its chairman, Mr Mutahir Okekunle, and other executive members.
Oyelade quoted Akin-Funmilayo as saying that the activities of estate agents required proper regulation, necessitating the government’s dialogue with the association’s leadership. He noted that although the government could not fix rental prices charged by property owners, such practices could be regulated through appropriate legislation.
The commissioner recalled that the Oyo State House of Assembly had debated similar concerns during its sitting on Monday and hinted that a law to regulate the operations of estate agents might soon be enacted.
“Before that happens, it is important for us to deliberate and develop a clear position to be presented to the House of Assembly to guide its deliberations,” Akin-Funmilayo said.
He urged members of the association to articulate their stance on rent and commission-related issues, stressing that their recommendations would be forwarded to the legislature for further consideration.
He added that it would be inappropriate for the ministry to unilaterally determine the percentage agents should charge, explaining that input from practitioners was essential.
“Practitioners in the field should offer guidance, which the ministry will review, form opinions on and develop into recommendations for the House of Assembly,” he said.
In his remarks, Okekunle commended the state government for policies he said had largely supported the association’s operations. He acknowledged the concerns raised over rent-related practices, noting that the association was already addressing the issue.
He identified inspection charges as one of the channels through which some unscrupulous agents extort prospective tenants and appealed to the government for support in flushing out such elements from the profession.
Meanwhile, housing sector stakeholders have warned that Nigeria’s rental market is under mounting pressure. The Managing Director of Stallion Cardinal Homes, Dr Waliu Adeoye, recently noted that rents in parts of Lagos and Abuja have increased by as much as 20 per cent annually, worsening affordability for tenants.
Adeoye said the demand for one to two years’ rent upfront had become a major barrier to housing access, stressing that effective implementation of ongoing reforms was critical to easing the burden on renters and improving long-term affordability nationwide.
