The Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, has raised serious concern over the unchecked operations of real estate agents across the state, warning that their exploitative activities are worsening the housing crisis for residents, especially those in low- and middle-income categories.
Delivering his keynote address at the Oyo State Real Estate Conference 2025 in Ibadan, Ogundoyin condemned the widespread exploitation of clients by certain agents who, he said, impose outrageous agency fees without any form of standard regulation or transparency.
According to him, these unethical actions have placed a heavy financial strain on potential tenants and property buyers, deepening the difficulty of accessing decent housing in the state.
“Residents have increasingly raised concerns over the unregulated activities of real estate agents, many of whom exploit clients by charging excessive agency fees without any standard procedure or accountability,” Ogundoyin said.
“This practice has made access to housing more difficult for many, particularly low- and middle-income earners, and there is a need to correct this situation.”
A push for regulatory framework
The Speaker revealed that the Oyo State House of Assembly had passed a resolution calling on the Executive and relevant stakeholders, especially the Ministry of Lands, Housing and Urban Development, to design a comprehensive regulatory policy that would reform the sector and shield citizens from exploitation.
“We have to work together to achieve success in this sector,” he added. “You cannot dictate to a private homeowner how much to rent out their property, nor can you tell an agent what to charge, but we must collaborate to curb the extortion of low- and middle-income earners. It must be a joint effort.”
Ogundoyin stressed that beyond new laws, strict enforcement of existing regulations was vital to restore discipline and integrity within the real estate market.
“It is time for the laws to take their full course. Any agent found guilty of exploitation or malpractice must be prosecuted to serve as a deterrent to others,” he declared.
The Speaker also lauded Governor Seyi Makinde for his administration’s progressive land reform initiatives and continuous fight against land grabbing — a major obstacle to real estate growth in the state.
He pointed out that the creation of the Anti-Land Grabbing Task Force, which investigates and prosecutes illegal land transactions and harassment of legitimate landowners, has renewed investor confidence in the sector.
“If anybody comes across Omo Onile (land grabbers), I can guarantee you that the Oyo State Government is determined to ensure that any situation capable of discouraging investors is reduced to zero,” Ogundoyin stated.
He reaffirmed the commitment of the State Assembly to maintain close collaboration with the Executive arm and private stakeholders in building a transparent, accountable, and investor-friendly housing system in Oyo State.
Earlier, in his welcome address, the Special Adviser to the Governor on Housing and Urban Development, Hon. Akinsete Olakunle, restated the government’s dedication to creating a smart, inclusive, and sustainable real estate environment that promotes economic expansion and urban renewal.
He emphasized that although the state had made commendable strides under the current administration, greater strategic and data-based planning was needed to achieve long-term housing goals.
“Innovation, transparency, and evidence-based planning must guide the growth of our real estate sector if we are to ensure its long-term success,” Hon. Akinsete said.
The Oyo State Real Estate Conference 2025 assembled top government officials, developers, investors, and housing experts to discuss ways of strengthening regulation, improving urban design, and promoting affordable and sustainable housing across the state.
