Former Minister of Works and Housing Babatunde Fashola has urged the Lagos State House of Assembly to review the tenancy law to compel landlords to take six months rents.
Fashola spoke during a Gala Night to mark 25 years of unbroken democratic governance in Nigeria, organised by the House of Assembly.
The Tenancy Law was signed by Fashola in August 2011 which compels landlords to collect one year rent from new tenants.
The former governor said due to the present economic challenges, the Assembly should review the law to protect tenants from shylock landlords.
He said: “We are using this law to protect tenants and citizens from shylock landlords. I remember that this House once started by reducing the tenancy agreement from three years to one year which had its impact.
“At this time of economic challenges and cost of living issue, I think we can go back to the tenancy agreement where landlords should be compelled to collect three months to six months’ rent. This will help in no small way”.
