Three years advance rent harmful to economy – Fashola

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The Minister of Works and Housing, Babatunde Fashola, on Thursday declared that the collection of two to three years’ rent in advance by property owners was causing more harm than good to Nigeria’s economy.

Fashola, who intensified the push for monthly rent payments across the country, charged state governments to look at ways to make the payment of rent easier and more comfortable for both tenants and landlords.

The minister disclosed this during his address at the 2022 National Council Meeting on Lands, Housing and Urban Development, the 11th in the series, which held in Sokoto State. In his speech at the event, which was made available to our correspondent in Abuja, Fashola said, “I concede that majority of the houses belong to the private sector and they expect legitimate income from rent for the properties.

“However, I hold a strong view that asking for two to three years rent in advance from working class people does more harm than good to all concerned and to the economy.

 

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Now u're talking to Nigerians as if we're babies sir, big men or rich dude don't pay half. We sometimes do that because of opportunities & fear of features. Failed Leaders

Pbuy

Three years advance from which account?

But rising cost of materials and tenament rates not harmful?

Is he just realising it?

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