Unpaid Market Rent: Oyo State Govt Goes After Defaulters

The Oyo State Government has put plans in motion to begin the immediate recovery of rent owed by owners of market stalls, starting from next week.

The move, according to the Ministry of Trade, Industry, Investment and Cooperatives, is critical for the provision of infrastructure, as well as delivery of quality services to the residents of the State.

The Commissioner for Trade, Industry, Investment and Cooperatives, Mr. Adeniyi Adebisi, said this is part of the government’s moves aimed at boosting revenue and promoting accountability.

The decision according to him was reached during a meeting held with Market representatives at the Ministry 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 Commissioner appreciated the efforts of the State Governor, Engineer Seyi Makinde to improve the lives of marketers, citing his administration’s initiatives which include upgrading of infrastructures and modernization of market facilities, provision of security and sanitation services and introduction of a digital payment system for rent collection.

Others are creation of a market development fund to support traders as well as the regularization of market allocation and stall ownership.

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

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

Honourable Adebisi stated that, “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.”

Mr. Olasiji Olaosebikan and Alhaja Oluremi Animashaun from Ogbomosho and Podo Ultra – Modern markets respectively, appreciated the government supports 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, Ibadan and Oke- Bola Business Complex, Ibadan.