NO ROOM FOR THE POOR? Rent Prices in Lagos and Abuja Jump by 20% as Landlords Blame High Cost of Cement and ‘Dollar Fever’ for New Rates!

If you are planning to renew your house rent in Lagos or Abuja this month, you might want to sit down before you check your bank balance. New reports show that house rents in Nigeria’s two biggest cities have surged by a painful 20% in just one year.

Finding a “cheap” house in places like Ikeja or Garki has become almost impossible. Property experts say the reason is simple: it has become incredibly expensive to build or even maintain a house in Nigeria. With the prices of cement and roofing sheets hitting the roof, landlords are passing the bill straight to the tenants.

“My landlord just added ₦300,000 to my rent without even painting the house,” one frustrated tenant in Abuja shared. This story is becoming the “new normal” for millions of Nigerians.

But it’s not just about the building materials. There is also a “supply and demand” war going on. Everyone is moving to the city to find work, but there aren’t enough houses for everyone. This has given landlords the “upper hand,” allowing them to hike prices knowing that if you don’t pay, ten other people are waiting in line to grab the keys.

The situation is getting so bad that even the “low-cost” areas on the outskirts of town are starting to get expensive. For many workers, the dream of living close to their office is fading, as they are forced to move further and further away just to find a roof they can afford.