In a move aimed at promoting transparency and accountability in the real estate industry, the Rivers State House of Assembly has committed the Real Estate Regulatory Authority bill to the Committee on Lands and Housing......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
This development follows a robust debate on the bill, which took place yesterday on the floor of the Assembly.
House Leader Real Estate Regulatory Authority bill initiated the debate, highlighting the numerous benefits of the bill.
According to Sokari, the legislation seeks to address the persistent issue of rising house rents in Port Harcourt, a concern that has been weighing heavily on residents.
Sokari emphasised that the bill once passed into law, would not only facilitate real estate development but also provide a significant boost to the state’s economy.
Deputy Speaker Timothy Orubienimigha Adolphus also made significant contributions to the debate, stressing the importance of transparency in real estate transactions. Adolphus noted that the bill would ensure that disciplinary actions are taken against estate owners who exploit innocent citizens, thereby protecting the rights of Rivers State residents.
The commitment of the bill to the Committee on Lands and Housing marks a significant milestone in the legislative process. As the bill progresses, it is expected to have a profound impact on the real estate sector in Rivers State, promoting a more regulated and transparent environment for stakeholders.
Deputy Speaker Timothy Orubienimigha Adolphus also contributed to the debate, stressing that the bill would bring transparency to real estate transactions.
He noted that the bill would ensure disciplinary actions against estate owners who exploit innocent citizens.
Speaker Victor Oko-Jumbo, in his submission, condemned the act of overbilling people looking for accommodation in the state.