Fashola advocates monthly rent payments, Urges data-driven policy decisions at the book launch
In a bold call for reform aimed at easing the burden on tenants and optimizing housing occupancy rates, former Minister of Power, Works and Housing, Babatunde Fashola, has advocated for the revision of tenancy laws across states in Nigeria to mandate landlords to collect rents on a monthly basis. Fashola made this impassioned plea during the launch of his latest book titled: “Nigerian Public Discourse: The Interplay of Empirical Evidence and Hyperbole,” held in Lagos.
Addressing a diverse audience gathered for the book launch, Fashola highlighted the pervasive challenges posed by the prevalent practice of demanding advance payment of rents for periods extending up to three years or more. He underscored how this practice disproportionately burdens tenants and contributes to the high rate of unoccupied housing units across the country.
“Increasingly, we have witnessed how the burden of paying rents in advance for periods spanning three, four, or even five years has become a significant challenge for tenants. This not only strains their financial resources but also contributes to the alarming rate of unoccupied houses nationwide,” Fashola remarked.
Amidst calls for reform, Fashola urged for a recalibration of tenancy laws to align with contemporary realities and alleviate the financial strain on tenants. He proposed a transition from multi-year advance payments to a more manageable monthly rent structure, which would coincide with individuals’ monthly income cycles.
“Can we reevaluate the current practice and consider reducing the duration of advance rent payments from three years to one year, or perhaps even further to six months? Can we synchronize rent payments with individuals’ monthly income cycles, thereby offering a more equitable and sustainable approach to housing affordability?” Fashola queried.
Highlighting the critical role of accurate data in informing policy decisions and facilitating effective governance, Fashola emphasized the indispensable value of data as the cornerstone of informed decision-making. He underscored the need for Nigeria to harness the power of accurate data to address pressing socio-economic challenges and drive sustainable development.
“Data serves as the most valuable currency in the world, one that no central bank can print. It is through accurate data that we gain insights into our population size, resource needs, and societal requirements. Data-driven governance is essential for achieving a future where basic needs such as food, water, shelter, and energy are abundant and accessible to all,” Fashola asserted.
The launch of Fashola’s book also featured a panel discussion on the significance of data in driving development initiatives, with experts underscoring the pivotal role of data in shaping policy frameworks and catalyzing positive change. Panelists, including former Special Assistant to President Muhammadu Buhari on Digital/New Media, Tolu Ogunlesi, and social entrepreneur Mrs. Toyosi Akerele-Ogunsiji, echoed Fashola’s sentiments on the transformative potential of data-driven governance.
As the discourse on data-driven governance gains momentum, Fashola’s book serves as a timely reminder of the importance of factual accuracy and empirical evidence in shaping public discourse and policy formulation. With insights from a diverse array of topics spanning corruption, poverty, governance, and constitutional issues, Fashola’s book seeks to debunk myths and hyperbole, providing a roadmap for informed decision-making in Nigeria’s socio-political landscape.
Amidst a gathering of esteemed dignitaries, policymakers, and thought leaders, Fashola’s book launch served as a rallying cry for a data-driven approach to governance and public discourse. With calls for reform echoing across the nation, the imperative for accurate data and evidence-based policymaking has never been more urgent, as Nigeria strives to chart a course towards sustainable development and inclusive prosperity.
