Reps Move to Curb Exploitative Rent Hikes, Propose a Nationwide 20% Cap and Demand FG Action on Affordable Housing

The House of Representatives on Thursday urged the Federal Government to take urgent and decisive steps to curb the alarming trend of arbitrary and exploitative rent increases across the nation. The resolution, which followed the adoption of a motion sponsored by Hon. Bassey Akiba, highlights the critical threat posed by unregulated rent hikes to the welfare of Nigerian citizens.

Speaking at the plenary session, Hon. Akiba argued that the current economic climate makes it “increasingly difficult for families and businesses to meet rental obligations,” warning that “unregulated rent increments threaten stability in the housing sector.” He cited shocking examples from the Federal Capital Territory (FCT), where annual rent for a two-bedroom apartment has reportedly skyrocketed from N800,000  to N2.5 million, plunging many citizens into severe economic distress.

The House resolved that the welfare and security of citizens, including access to affordable housing, is a primary responsibility of the government, referencing the 1999 Constitution and the UN Habitat Agenda.

Consequently, the House passed three key mandates and recommendations to the Federal Government, through the Ministry of Housing and Urban Development:

1. Implement a Rent Cap: The House recommended that any rent review nationwide should not exceed 20 per cent of the existing rate, regardless of facility improvements or other factors.
2. Enforce Rent Control: The Ministry must collaborate with state governments to implement effective rent control policies and ensure that public infrastructure development such as new roads or markets does not lead to unjustified rent escalations.
3. Boost Supply: Intensify efforts toward providing affordable housing schemes and expanding access to low-cost homes to alleviate pressure on the private rental market.

The House further mandated its Committee on Housing and Habitat to monitor the government’s compliance with these resolutions and submit a comprehensive report within four weeks for legislative follow-up.