Unpaid Market Rent: Oyo Govt Goes After Defaulters

Plans have been put in motion to begin the immediate recovery of rent owed the Oyo State Government by owners of market stalls in the State.

The move, according to the Ministry of Trades, Industry, Investment and Cooperatives, will boost revenue generation which is critical for the provision of infrastructure, as well as delivery of quality services to the residents of the territory.

The Commissioner for Trades, Mr. Adeniyi Adebisi said this is part of the Government’s moves aimed at boosting revenue and promoting accountability.

This decision was reached during a meeting with market representatives at the ministry’s conference hall today.

Adebisi stated that defaulting marketers were initially given a three-week notice, which ends on Monday, September 9th, 2024 to pay their overdue stall fees into the Government’s account

The Honourable Commissioner appreciated the efforts of the Executive Governor of Oyo State, Engineer Seyi Makinde to improve the lives of marketers, citing his administration’s initiatives such as:

• Infrastructure upgrades and modernization of market facilities
• Provision of security and sanitation services
• Introduction of a digital payment system for rent collection
• Creation of a market development fund to support traders
• Regularization of market allocation and stall ownership

The Honourable Commissioner emphasized the importance of compliance, warning that defaulters may face penalties or eviction.

Market representatives were urged to prioritize rent payments to avoid any disruptions to their businesses.

Honourable Adebisi stated, “We are grateful for the Governor’s commitment to enhancing the market environment and promoting economic growth. Our 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.”

Mr. Olasiji Olaosebikan and Alhaja Oluremi Animashaun from Ogbomosho and Podo ultra – modern markets respectively, appreciated the Government’s support and pledged to synergize with the State Government to ensure the success of the initiative.

They acknowledged the need for a structured rent collection system and expressed willingness to cooperate with the Government.

Markets affected by this enforcement drive include: 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 and Oke-Bola Business Complex, Ibadan.