The Lagos State Government has called on key real estate stakeholders to help reduce the rent burden on residents and eliminate illegal charges in property transactions.

At a stakeholders’ meeting chaired by the Commissioner for Housing, Moruf Akinderu-Fatai, and the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, representatives from the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Real Estate Developers Association of Nigeria (REDAN), and Association of Estate Agents in Nigeria (AEAN) were urged to support the enforcement of existing real estate laws.

“The aim of engaging all stakeholders is to strengthen the working relationship between the State Government and the professional bodies for the benefit of Lagosians,” said Akinderu-Fatai. “We will no longer tolerate the extortion of accommodation seekers with unwholesome practices.”

The state expressed concern over arbitrary rent hikes and illegal charges such as caution fees, inspection fees, and finder’s fees, calling them “professionally harmful practices” that undermine trust in the real estate industry.

Odunuga-Bakare reminded stakeholders that Lagos laws limit chargeable transaction fees to 10 percent, and encouraged full cooperation to ease housing access.

Gbenga Ismail of NIESV, Dr. Kolawole Tony of REDAN, and Dr. Adeniyi Tinubu of AEAN affirmed their readiness to work with the government to address housing costs and ensure ethical practices. “We are committed to advocacy, public enlightenment, and sensitisation on best practices,” they stated jointly.

The meeting concluded with plans to hold another broader stakeholders’ forum involving legal and professional institutions to ensure a holistic approach to real estate reform in Lagos.