Lagos— The Lagos State House of Assembly says its new Tenancy Bill is aimed at protecting tenants from exploitation by estate agents and easing the financial burden of securing accommodation in the state.

Chairman of the House Committee on Information, Stephen Ogundipe, disclosed this in Lagos on Thursday, a day after the Assembly held a public hearing on the proposed legislation.

Ogundipe said the bill responds directly to widespread public complaints about excessive agency charges, noting that one of its key provisions seeks to reduce agent fees on annual rents from 10% to 5%.

“The new bill currently under consideration is designed to protect the rights of both tenants and landlords. It will reduce disputes, remove barriers to large-scale housing development, and end many recurring controversies between landlords and tenants,” he said.

According to the lawmaker, the bill is expected to foster harmony in landlord-tenant relations, restore investor confidence in the real estate sector, and attract new financiers to the housing market.

He explained that the proposed law would clearly define rights and obligations, promote mutual understanding, and allow landlords to inspect and maintain their properties after giving tenants prior notice. The bill also considers a review of legal requirements for landlords to insure their premises against loss or damage.

Ogundipe thanked stakeholders for their input during the public hearing, emphasising that their contributions would help shape a balanced and progressive law.

Wednesday’s hearing was attended by the Chairman of the House Committee on Housing, Olusegun Ege; House Majority Leader, Noheem Adams; and Commissioner for Housing, Moruf Akinderu-Fatai. Also present were senior government aides and representatives of major real estate, legal, and professional bodies, including the Nigerian Institution of Estate Surveyors and Valuers, the Nigerian Bar Association, and the Real Estate Developers Association of Nigeria.