Experts flay Lagos government over proposed law on property ownership

Experts in the real estate sector have condemned the recent pronouncement by the Lagos House of Assembly to pass new property acquisition and business ownership laws that only favours indigenes of the state.

They described the move as an attempt to jeopardise economic development, especially in the real estate sector, which has over time been driven by indigenes and non-indigenes.

The Speaker of the Lagos State House of Assembly, Mudashiru Obasa, had during his acceptance speech as a third-term speaker of Lagos parliament, said the state parliament would pass new property and business ownership laws to favour indigenes in property acquisition and business ownership.