Oyo State Government to Begin Rent Recovery from Market Stall Owners
The Oyo State Government has announced plans to commence the immediate recovery of outstanding rent owed by market stall owners across the state. The recovery process is set to begin next week as part of a broader effort to enhance revenue generation and ensure the provision of critical infrastructure and services for residents.
According to the Commissioner for Trade, Industry, Investment, and Cooperatives, Mr. Adeniyi Adebisi, this initiative is a key component of the government’s strategy to boost revenue and promote accountability within the state's markets. The decision was made during a meeting held today with representatives from various markets at the Ministry.
Mr. Adebisi revealed that market stall owners who have defaulted on their rent payments were previously issued a three-week notice, which expires on Monday, September 9, 2024. He urged all defaulters to settle their overdue fees by paying into the government’s account to avoid penalties.
The Commissioner expressed appreciation for the efforts of Governor Seyi Makinde in enhancing the welfare of market traders. He highlighted several initiatives by the current administration, including the upgrading and modernization of market facilities, provision of security and sanitation services, and the introduction of a digital payment system for rent collection. Other measures include the creation of a market development fund to support traders and the regularization of market allocation and stall ownership.
Emphasizing the importance of compliance, Mr. Adebisi warned that failure to pay could result in penalties or eviction from the markets. He urged market representatives to encourage prompt rent payments to avoid disruptions to their businesses.
"The enforcement drive is aimed at ensuring that market stall holders contribute to the state's revenue, which will be used to further develop our markets and benefit the traders," stated Honourable Adebisi.
Representatives from the Ogbomosho and Podo Ultra-Modern markets, Mr. Olasiji Olaosebikan and Alhaja Oluremi Animashaun, expressed their gratitude for the government’s support and pledged to cooperate fully with the state’s efforts. They acknowledged the necessity of a structured rent collection system and committed to working with the government to ensure the success of the initiative.
Markets targeted by this enforcement drive include the Bola Ige International Business Complex, New Gbagi, Ibadan; Temidire Ultra Modern Business Complex, New Ife Road, Ibadan; Ultra Modern Business Complex, Ogbomosho; Scout Camp Neighborhood Business Complex, Challenge, Ibadan; Podo Ultra-Modern Business Complex, New Garage, Ibadan; Adamasingba Business Complex, Ibadan; and Oke-Bola Business Complex, Ibadan.
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