Babajide Sanwo-Olu, the governor of Lagos State, has approved a measure regulating real estate transactions in the state.
On Monday, the governor signed the law 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 law to regulate real estate transactions in Lagos State, according to Governor Sanwo-Olu, will help to protect citizens, particularly the unsuspecting Lagosians who fall prey to many real estate professionals. The law will also help players in the real estate sector understand what is expected of them, as well as the government’s ability to track who is doing what in the sector.
“It’s all about making it easier to conduct business and ensuring that we can continue to attract private-sector investment into the real estate market.”
Sanwo-Olu was cited as stating, “We think this law would be the first in the country to take a thorough dive into what is occurring in that arena, and it will further reinforce our engagement in housing via the Ministry of Housing.”
The governor also signed two additional acts into law: one requiring the registration of cooperative societies in Lagos State, and another regulating pet ownership, licensing, and sales, as well as prohibiting and restricting persons from having hazardous animals in their possession in public areas.
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Sanwo-Olu stated that the new legislation he signed will promote government-citizen interaction and partnerships, allowing inhabitants of the state to continue to live in an environment where the rule of law is upheld and they understand what is expected of them.
The governor praised Mudashiru Obasa, the Speaker of the Lagos State House of Assembly, and the state lawmakers for recognizing the importance of enacting the measures into law.
He said that the legislation requiring cooperative societies to register in Lagos State will make it easier to regulate the activities of thousands of cooperative societies in the state, allowing for peaceful collaboration.
The governor also stated that the law governing pet ownership, licensing, and sales, as well as prohibiting and restricting people from having dangerous animals in their possession in public places, would strengthen all of the Ministry of Agriculture’s deliverables, particularly those dealing with pets and animals
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