Lagos State Governor Babajide Sanwo-Olu has advised the state real estate business practitioners to ensure probity in their practice so as to attract Foreign Direct Investment (FDI), after the coronavirus pandemic.
The state governor emphasized the importance of creating a homeownership model that will aid in addressing the deficits that have already been observed in the housing industry.
Sanwo-Olu said this during a roundtable meeting that was organized by the state Real Estate Regulatory Authority, (LASRERA) with relevant authorities. The governor pledged the state readiness to bridge the gap by partnering with the private sector and working with necessary authorities in ensuring people have access to encouraging home services.
“We will introduce legislation that would enthrone probity and also help curb bad behaviors among tenants and property owners,” The governor said while noting that apart from facilitating business relationships among people, the sector contributes to the state GDP, hence, his administration is determined to provide the right environment for its practices.
“Our administration intends to make the real estate market competitive and best in international practices in terms of regulations that conform to global practices,” he said.