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. I am inclined to think that if we just change the
payment system for housing we will accommodate a significant number of
people.” he said
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