 The Nigerian Senate has passed for second reading a bill seeking to regulate rent payments in the Federal Capital Territory, FCT. Senator Smart, Adeyemi, specifically, seeks to stop yearly advance payment of rent and compel house owners to collect rent monthly in arrears. The report is presented from our studios. Senator Adeyemi, in his lead debate, said the bill was to cushion the effect of outrageous rent on properties on residents in the nation's capital. He said many properties in Abuja were empty because of the outrageous rents placed on them. Distinguished colleagues, you may wish to know that many residents of FCT are finding it difficult to cope with huge rent payments and as an aftermath of this, Mr. President, many houses built within the city centre for such purposes are empty. Other senators will equal you through their weights behind the bill, describe the proposed law as people-centred. If nothing, this bill is a sample and a testimony to that very important mantra we adopted in this chamber. Mr. President, distinguished colleagues, there is no gain saying the truth is out there. Many residents in the FCT are groaning under this very, very difficult system. I rise to totally support this bill. You see, we have to do something to the masses of this country and the only way we can do it is to make sure that this is paid monthly rather than being paid in, let's say, in advance. The question to ask is whether it is just to ask the clerk of the Senates whose salary is not up to $800,000 or maybe $400,000 to pay $2 million at once in advance. Where are you expecting him to get that money? Where? In opposing the bills, Senator Chimarroke Nnamani said rents are determined by market forces, like the cost of acquiring land and building materials. The issue of rental payment, either in advance or in installment, is purely economic. It should be driven by market forces. So, market forces ask availability of land, cost of building materials, income. If government wants to ameliorate the sufferings of the masses, government can go into housing skiing. But his position, however, did not stop the passage of the bill for second reading. A bill for an act to regulate the mode of payment of rent on residential apartments, office spaces, etc., in the federal capital territory, FCT, and for other matters connected there with 2022 second reading taken. The bill has been referred to the Senate Committee on Housing, giving it four weeks to report back in plenary for further legislative imputes. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.