The Oyo State Government is set to accredit and regulate the activities of real estate developers in the state. This is part of the government's second term agenda for sustainable development and efforts to guard against bad eggs in the industry.
The Commissioner for Lands, Housing and Urban Development, Mr. Williams Akin-Funmilayo, made the announcement in a meeting with real estate developers in Ibadan. He said the accreditation would help to protect the interest of innocent investors in the state and curb the excesses of those that have polluted the industry.
The commissioner also said that the accreditation would help the developers know where the state government has designated for housing development, as not all lands in the state are meant to be developed into housing estates. The government would provide the developers with the government land information that is needed for development even outside Ibadan.
The accreditation and regulation of real estate developers in Oyo State is a welcome development. It is expected to help sanitize the industry and protect the interests of investors and property buyers.