Deenee I can't agree more with u. The economies all over the world are at the bottom of the Ocean and the banks are trying 2 start another bubble 2 jump start their economies. For the last 3 yrs Facebook has been position itself for the IPOs it wants 2 issue. How much revenue is it generating, what is the quality of its assets to justify the $50B Networth, and it return on capital (net profit devided by total asset costis too low -1% ie if the figs are any thing 2 go by) The numbers don't just add u

Another Stock Market Bubble. If they are so profitable (30% from revenue) why are they planning an IPO simultaneously in 3 different stock markets To spread the wealth? I remember hearing these lines before the stock market bubble burst in Nigeria.

Remember before every IPO in Nigeria how they companies would sponsor articles in papers telling us how profitable they are & how they had increased revenue year on year. Where are those companies now?

Read between the lines!!!!!!!

Good Law but If I may ask - How practical is this law? How is the Law to be enforced, who will cases be reported to?? How does this help those who are looking for houses in Lagos? How does this affect the exorbitant sums being charged currently? How does it stop all the other 10% fees being charged for agreement, agency as well as the extra caution fee being charged by the Landlord?

The only area that seem reasonable is the issue of rent renewal being reduced to 6 months from one year. But the caveat here is what stops the Landlord from increasing his rent after 6 months. How does the law define unnecessary rent increases

The laws of supply and demand will not allow this to work. You dont need to look far to see where it has failed in recent past - GEJ ordered cement manufacturers to reduce the cost of cement some months back. At that time a bag cost N2,200, his order pushed it down it to about N1,700. Right now cement now goes for around  N2,500 a bag. I wonder why GEJ has not spoken since then. This laws only works (temporarily) in the days of the military. The only way to counter the Landlords in the long term is to increase capacity (build more houses). Until Fashola does what Jankande achieved in his 3 1/2 yrs in office, in the area of housing , the law is a waste of time and will only succced in creating a black market.

A land lord will simply say if u cannot accept my terms go and meet Lagos State to give you a house on their own terms,  

9jafreak

Your statment is well said!!!

So Agaga has spoken. Has we bothered to ask how many Jobs will be created locally ? What is the mutiplier effect of this investments on the economy (like we saw with telecoms licences issued in 2001) ? What exactly is this investment being spend on - increase in long term  production capacity (as in the case of most telecom investments) or  short term investments (Like most in the Oil sector especially in the Downstream  & Mid stream: the investment by Zenon in 2007 or 2008 for "storage expansion" to facilitate diesel importation comes to mind here).

And for those who are talking about N16B in Delta State. I hope it will not be another White Elephant. You only need to look at other invesments by other states to understand what I mean:
Tinapa resort in Cross Rivers State was supposed to be an investment & tourist Mecca in Nigeria & West Africa, but sadly I dont think it was fully thought through, leaving the place empty & largely ignored. Others include the so called International Airport every state govt expecially in the niger delta seem to be embarking on (Delta, Akwa Ibom & lately Kwara come to mind). Have we bothered to ask how many commercial planes (except the pivate jets of the previlaged few) take off  and land on a daily basis to justify the huge (in some cases inexplicable) sums spent constructing & maintainaing this project.

Then there is the issue of how much of this investment will be lost due to corruption & poor infastructure. Why is it so difficult to build new refineries especially as other African countries (Niger, Chad, Sudan and of late Ghana) have proven that it does not take rocket sceince to do so, fix our roads, solve the power problem or equation now as various Govt have shown, build viable rail networks to reduce the pressure on road transport and its side effects etc. These will go a long way in reducing the cost of doing Biz in this country and open the doors for even more investment.

Shame that when we Nigerians hear or read excepts & we just jump into conclusion both for and against.

Until we can collectively challenge the Govts at all levels constructively (devoid of ethnic, tribal & religious sentiments- I know say dat one hard) on their policies, statements & actions, Our leaders will continue to misrule us, steal our collective wealth and laugh at us while they watch us argue who is right or wrong.