The Oyo State Government on Saturday, said it is set to regulate the activities of Real Estate Developers in the state, which is part of the second-term agenda for Sustainable Development.
The Commissioner for Lands, Housing and Urban Development, Mr. Williams Akin Funmilayo stated this in a meeting with Real Estate Developers held at Secretariat, Ibadan.
He stated that the development is part of efforts to guard against bad eggs among the developers, adding that one of the components of the present administration, is to ensure the urbanization of the state.
He added that the Oyo State Government has been duly informed by several innocent victims, who have been duped by the bad eggs, among the developers.
Mr. Akin-Funmilayo stressed that the Oyo State Government is taking the bull by the horns, by registering practitioners, and not letting dubious real estate developers take advantage of its people.
“They cannot be operating in the state without knowing them as a custodian of land in the state, which will equally protect their interest”.
He said, “it is essential for the government to know who is who in the real estate business in the state, we should work hand in hand to achieve the same purpose with Governor Seyi Makinde’s Agenda”.
“To protect the interest of innocent investors in the state, we have come up with modalities to accredit all real estate developers in the state, in other to have a robust relationship and curb excess of those that have polluted the industry”.
“To this end, they will know where we have designated for housing development not all land in the state is meant to be developed for a housing estate, we will provide them with the government land information that is needed to be developed even outside Ibadan”.
“With this, our people in the state cannot be duped and if they have land to be developed into a housing estate they will apply to the state government and they will be profiled properly. This will give our people in the diaspora a hope to come home and invest in the state”, he said.
In his remarks, one of the Real Estate Developers, and representative of Ark View Investment Limited, Peter Olutoyese applauded the laudable initiative.
He said, the advantage of free entry has been abused and the industry has been polluted, adding that the regulation will limit the pollution and it will also give credible developers more chance to thrive.