Rivers Assembly initiates bill to regulate real estate

The Rivers House of Assembly faction loyal to Gov. Siminalaye Fubara, on Wednesday, initiated a bill to regulate the real estate sector.

The Leader, Mr. Sokari Goodboy, who presented the River State Real Estate Regulatory Authority Bill 2024, said it was aimed at ensuring transparency in the sector.

Goodboy stated that the bill would regulate the activities of real estate operators with a view to promoting transparency and professionalism.

READ ALSO:FG to borrow $500m from World Bank for HOPE Project 

“When fully passed into law, the will also provide opportunity for dispute resolutions through mediatory mechanisms.

“It will also make provisions to tackle challenges that impede sustainable growth in the sector,” he said.

In a related development, Goodboy also submitted a report of the audited accounts of the 23 local government councils in the state to the assembly.

READ ALSO:Online row stirs debate in Nigeria after comments on UK Tory leader

The Speaker, Mr. Victor Oko-Jumbo, described the report as strategic towards promoting prudence and financial discipline in local government councils.

He said that the assembly would continue to ensure thorough oversight of local government councils to ensure accountability.