Minister for Works, Housing and Power, Babatunde Fashola has called for a review in the way Nigerians pay two years house rent whenever they are seeking to get an apartment. He stated this while speaking at a press conference in Abuja recently
“The way we collect rent is something that must change. If we are collecting two years rent in advance from a salary that is going to be earned in arrears monthly, there’s an accounting mismatch. This is something many of us have experienced, you pay two years rent in advance money you haven’t earned.
Something is distorted somewhere in our accounting model. We must all resolve, property owners alike, that maybe if we changed the way we collected rent alone many houses that are unoccupied, will be occupied.
This is definitely not coming as a surprise as this was to a great deal achieved while he was Governor of Lagos state