By Oloye Olajuwon Subair Adelokun, Anlugbua, Mogaji Ile Nla
Your Excellency,
The Government of Oyo State,
And the Good People of Our Dear State,
As Oyo State moves beyond the celebration of its Golden Jubilee and begins to shape the foundations of the next fifty years, we must confront the structural weaknesses that quietly undermine our growth, our security, and our economic potential.
One such critical sector is real estate.
Oyo State — historically the political and cultural stronghold of the Yoruba people — has grown into one of Nigeria’s most strategic and expanding subnational economies. Ibadan remains one of the largest indigenous cities in Africa. Our growth corridors in Ogbomoso, Oyo, Iseyin, Saki, Ibarapa, and across the state continue to expand. Land values are rising. Diaspora interest is increasing. Development is accelerating.
Yet, despite this growth, the real estate sector remains largely unregulated.
Today, anyone can operate as a “real estate agent” or “developer” without formal education, licensing, certification, or accountability. The consequences are visible and damaging:
• Rampant forgery of property documentation
• Multiple sales of the same property
• Land grabbing and violent disputes
• Client extortion and unethical commission practices
• Endless litigation in our courts
• Loss of investor confidence
These issues do not merely affect individuals — they damage the economic credibility of Oyo State.
If we are serious about building a sustainable and investor-ready state, we must professionalize and regulate this sector.
A Call for a Mandatory Real Estate Licensing Law
I respectfully propose that Oyo State enact a Mandatory Real Estate Licensing Law, supported by the establishment of a statutory Oyo State Real Estate Regulatory Authority.
Under this framework:
• Only licensed agents, brokers, and developers would be permitted to operate within the State.
• Practitioners would undergo approved training and pass a competency examination.
• A publicly accessible digital registry of licensed professionals would be created.
• Annual renewals would ensure ongoing compliance and ethical standards.
• Clear penalties would apply to unlicensed or fraudulent operators.
• A consumer protection and dispute resolution mechanism would safeguard citizens.
This reform is not about restriction — it is about protection, professionalism, and progress.
Why This Matters
1. Protection of Citizens
Families investing their life savings in land or housing deserve assurance that they are dealing with verified professionals.
2. Investor Confidence
Institutional investors, diaspora Nigerians, and development partners require regulatory certainty before committing capital.
3. Increased Internally Generated Revenue (IGR)
Through licensing fees, renewals, and compliance enforcement, the State can generate substantial sustainable revenue — without imposing new taxes on ordinary citizens.
4. Urban Planning & Data Management
A centralized registry improves land administration, planning coordination, and policy decision-making.
5. Positioning Oyo as a National Model
Oyo State has historically led in education and governance innovation. We can once again set the benchmark for other states in Nigeria.
Addressing Concerns
Reform always faces resistance. Unlicensed operators may object. Implementation may require institutional strengthening. However, these challenges can be addressed through:
• A reasonable transition period for compliance
• Public awareness campaigns
• Transparent digital systems
• Independent audits and citizen oversight
The long-term gains far outweigh the short-term adjustments.
The Oyo We Must Build
Our forebears built empires founded on structure, accountability, and organized systems of governance. The Old Oyo Empire thrived because it was regulated, coordinated, and institutionally strong.
As we enter the next chapter of our State’s history, we must build institutions that match our ambitions.
Real estate is not merely about land and buildings. It is about security, wealth creation, urban development, and generational stability.
Oyo State cannot afford to leave such a critical sector unregulated.
I therefore respectfully call on:
• The Executive Arm of Government
• The Oyo State House of Assembly
• Professional bodies
• Civil society organizations
• And all stakeholders
to prioritize the development and passage of a Mandatory Real Estate Licensing Law for Oyo State.
Let us protect our people.
Let us strengthen our institutions.
Let us build an Oyo State that inspires confidence, integrity, and sustainable prosperity.
The next fifty years begin now.
Respectfully,
Oloye Olajuwon Subair Adelokun
Anlugbua
Mogaji Ile Nla
