Lagos State Governor, Babajide Sanwo-Olu, has signed a bill regulating real estate transactions in the state in line with his commitment to sanitise the sector and protect residents’ interests across Lagos.

The governor signed the bill at the Executive Chamber at the Lagos House in the Ikeja area on Monday, according to a statement by his spokesman, Gboyega Akosile, titled, ‘Sanwo-Olu Swears-in Special Advisers on PPP, Agriculture’.

Benefits for Lagos residents

Sanwo-Olu said the new bills he assented to will strengthen government and citizens’ engagement and relationships and for residents of the state to continue to live in an atmosphere where the rule of law is enshrined for people and to know what is expected of them.

He added that the law to regulate real estate transactions will help to protect the citizens; the unsuspecting Lagosians who fall prey to many real estate professionals.

According to him, 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 about 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,” he said.

Source : PUNCH