Residents in several parts of Lagos State have raised concerns over the sharp rise in house rents, warning that the growing cost of accommodation is placing severe pressure on households and could deepen the state’s housing challenges if urgent action is not taken.
Many tenants who spoke recently, as ENigeria Newspaper gathered, said rent now consumes a substantial portion of their income, leaving limited funds for savings and other essential needs.
A 2023 housing market report indicated that Nigerian households spend between 50 and 70 per cent of their income on rent, far above the globally recommended threshold of 30 per cent, describing the trend as a sign of structural imbalance rather than a temporary surge.
Some residents reported that landlords are introducing steep increases, with rent reviews occurring within short intervals. Others said they had been forced to relocate to neighbouring states due to unaffordable rates in Lagos, resulting in higher transportation costs and longer commuting hours.
As ENigeria Newspaper also learnt that several working professionals disclosed that annual rents for modest apartments have increased significantly within a year, leaving them with little choice but to renegotiate with landlords or remain in shared or temporary accommodation.
A political aspirant of the Lagos State House of Assembly seat in Eti-Osa, Ayo Adio, recently noted reasons in the sporadic increase in the prices of house rents. He described the situation as a “rent crisis,” noting that many workers now spend between 60 and 70 per cent of their income on rent and transportation combined. He proposed linking rent increases to official inflation rates, capping agency and legal fees, and mandating longer notice periods before rent adjustments take effect.
He also advocated increased government involvement in housing delivery, including large-scale construction of affordable housing units and mortgage reforms to ease access to long-term financing.
As the cases of this crisis continue to fill the news, the Lagos State Government is yet to make any official intervention.
