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Lagos Assembly Moves To Slash Agents’ Fees, Targets Relief For Renters 


The Lagos State House of Assembly has proposed a landmark Tenancy Bill designed to ease the financial strain on renters by cutting estate agents’ fees from the current 10% to a maximum of 5% of annual rent.

The move comes in direct response to mounting public complaints over inflated agent charges in Lagos’s competitive housing market, where more than 70% of residents live in rented homes and many spend between 40% and 60% of their income on rent.

If passed, the bill will make it illegal for agents to charge above the 5% limit, with stiff penalties for offenders — including fines of up to ₦1 million, jail terms of up to two years, and mandatory refunds of any excess charges.

Lawmakers say the legislation aims to protect tenants from exploitative practices while promoting a fairer, more affordable rental system in Nigeria’s most populous city.

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