Thread by @lshaofficial

Welcome to A-day public hearing on

“A Bill for a Law to Regulate Real Estate Transactions in Lagos State and for other Connected Purposes”

#LSHAPublicHearing #lshaofficial

As part of the House tradition, this public hearing is aimed at ensuring the participation of relevant stakeholders and members of the public to seek their opinion before passage of the Bill into law.

#LSHAPublicHearing #lshaofficial

***START***

The Opening Prayer to commence the beginning of the Public Hearing

#LSHAPublicHearing #lshaofficial

Introduction of Invited Guests

#LSHAPublicHearing #lshaofficial

Welcome address by Hon. Adebisi Yusuf @Princebisiyusuf , Chairman, Committee on Housing.

#LSHAPublicHearing #lshaofficial

“The proposed bill intends to sanitise real estate transactions, through the operation of a data base containing particulars of persons and organisations engaged in the business of real estate agency in the State,... - @Princebisiyusuf

#LSHAPublicHearing #lshaofficial

“... in order to monitor their activities and protect citizens against fraudulent real estate transaction.

In addition, it plans to guarantee the protection of persons and organisations dealing in real estate,...

... ensure they register with the State, obtain a Permit on registration before commencing operations, ensure that real estate transactions are transparent, gain market confidence and are devoid of fraudulent practitioners and all forms of property fraud.” - @Princebisiyusuf

#HappeningNow
Keynote address by Rt. Hon. Mudashiru Ajayi Obasa @mudashiru_obasa ably represented by the Deputy Speaker, Hon. Wasiu Eshilokun Sanni @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

“This sector have long been yearning for befitting beneficial regulatory and policy modernization. The danger in having unrecognized and often unqualified person operating in the key areas of this sector like facility management, property developers,valuer,...

... agents, etcetera, can’t be overestimated to say the least. Essentially, it’s not only security untidy, it portends many other grave strains like revenue leakage to the government, proliferation of substandard facilities, exploitation of several kinds, fraud, amongst others.

This bill is a laudable attempt to cover a rather policy evasive but socio-economically salient sector of our socioeconomic life. This bill is admirably seeking to solve the problems being faced by this sector with a single stroke.

This bill commendably seeks to create a regulatory authority to oversee, monitor, regulate and manage the property transactions in Lagos state.” - Deputy Speaker, Hon. Wasiu Eshilokun @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial @followlasg @LagosMoj

“Section 2 of the Bill creates the Real Estate Regulatory Authority whilst section 4 clearly states the functions to include creating a register and ensuring data collation on all landed property transactions amongst others.” - @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

“Section 14 unambiguously establishes the units and departments operational within the Authority whilst section 17, 18 and 19 exhaustively enumerated the issues pertaining permits.” - @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

“A very key section of this bill is section 21 which now seeks to codify the operational standards for the practitioners in the sector.” - @wasiu_eshilokun  

#LSHAPublicHearing #lshaofficial

“Hence, the whole gamut of this bill from section 1-37 seeks to introduce, promulgate and codify a clear policy framework to be operational in this sector.” - @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

“This bill if passed will ensure transparency, professionalism, equity, specialisation and operational efficiency in the sector.” - @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

#HappeningNow
General Overview of the Bill by Hon. Sanai Agunbiade @Sobagunbiade; Majority Leader @lshaofficial

#LSHAPublicHearing #lshaofficial

“The proposed bill has 37 sections, one of the most important areas of our economy in Lagos State, Real Estate is so much affected by all sorts of practices that drive away investors, frustrating those who are involved already and not encouraging to so many that...

...wants to come into it, it is for this reason that the extant laws has been reviewed, evaluated and all the dark areas that needs attention has been addressed in the present bill.” - Hon. Agunbiade S.O.B @Sobagunbiade

#LSHAPublicHearing #lshaofficial

#HappeningNow
Presentation of Memoranda by stakeholders and members of the public.

#LSHAPublicHearing #lshaofficial

Cross section of guests at the Public hearing on “A Bill for a Law to Regulate Real Estate Transactions in Lagos State and for other Connected Purposes”

#LSHAPublicHearing #lshaofficial

Be a part of the Public Hearing by sending your questions, comments or memorandum through this platform either via REPLY or DM for onward delivery for on-site deliberations.

#LSHAPublicHearing #lshaofficial

[PHOTO]
Cross section of Hon. Members and Invited Guests at the Public Hearing on a bill to regulate real estate transactions in Lagos State and for other connected purposes.

#LSHAPublicHearing #lshaofficial

#HappeningNow
[PHOTO]

Stakeholders and members of the public are currently adding their voices to the proposed bill.

What are your contributions?

#LSHAPublicHearing #lshaofficial

Send in your memoranda via mail :

[e-mail]

#LSHAPublicHearing #lshaofficial

#HappeningNow
Comments / Responses by the Deputy Speaker; Hon. Wasiu Eshilokun @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

“The housing committee will look into the composition in order to accommodate relevant stakeholders for the sole objective of having a robust all-inclusive Law” - Hon. Wasiu Eshilokun Sanni @wasiu_eshilokun

#LSHAPublicHearing #lshaofficial

#HappeningNow
Vote of Thanks by the acting Clerk of the House; Barr. O.B. Onafeko
#LSHAPublicHearing #lshaofficial

#HappeningNow
Closing prayer to end the Public Hearing session.

#LSHAPublicHearing #lshaofficial

***END***