An Estate Surveyor and Valuer ESV Joseph Ogbonnaya has disclosed major causes of rent crisis in Nigeria and ways in which it can solved .
Ogbonnaya stated this in Abuja during a media chat .
He said that usually what fuels rent crisis in Nigeria,did just not emerge overnight.
“ It is the product of several intertwined factors that reflect broader weaknesses in Nigeria’s housing and economic systems, such as severe housing shortage, high cost of construction, poor access to mortgage and finance, lack of government subsidized housing, high cost of urban land acquisition, and increase in migration”.
According to him, Across Nigeria’s major cities, the rising cost of rent has become a pressing social and economic concern, where tenants groan under the weight of skyrocketing rental prices, while landlords face increasing challenges maintaining properties amid inflation and weak infrastructure.
“The result is a rent crisis that threatens not only household stability but also the broader goal of affordable housing for all”.
The Estate Surveyor who explained that the Landlords’ Perspective, by saying that while tenants bear the brunt of high rents, landlords face their own challenges.
He said that property maintenance costs have surged, utility bills are unpredictable, and taxes and levies continue to increase. “Many landlords rely on rent as their main source of livelihood or pension income. Without stable economic policies or access to low-cost building materials, they often pass rising costs to tenants”.
He added that the absence of rent control and structured tenancy frameworks in many states means that rent negotiations are left entirely to market forces, often to the detriment of tenants.
Social Implications of the Rent Crisis:
He said that the rent burden has ripple effects across society. It contributes to urban poverty, limits savings and investment, and deepens inequality. “Young adults delay marriage or family formation due to housing costs. Informal settlements continue to expand, straining public infrastructure and worsening health and safety conditions.
In the long run, unchecked rent inflation could deter investment in productive sectors, as more income is diverted toward basic shelter rather than wealth creation”.
The Way Forward:
He stated that the rent crisis can be addressed through coordinated action by government, private developers, financial institutions, and professional bodies.
Expand Affordable Housing Supply: Governments at all levels must prioritize mass housing schemes through Public-Private Partnerships (PPPs). By providing land, infrastructure, and policy incentives, private investors can be encouraged to develop low- and middle-income housing.
Reform Land Administration: Simplifying land titling and registration will reduce costs and attract more developers into the formal sector. Transparent land allocation also prevents speculative hoarding.
Promote Rent-to-Own Schemes: Innovative housing finance models that allow tenants to gradually acquire ownership can reduce pressure on the rental market.
Implement Fair Tenancy Laws: States should review tenancy regulations to promote fairness, prevent exploitation, and encourage dispute resolution mechanisms.
Others are : Encourage Local Building Materials: Supporting local production of cement, tiles, and other materials can cut costs and stabilize housing prices.
Strengthen Professional Oversight: Estate surveyors, valuers, and other real estate professionals must continue to promote ethical practices, accurate rental valuation, and fair representation in landlord-tenant relations.
He stressed that
the rent crisis in Nigerian cities reflects more than just rising prices. It is a symptom of deeper structural challenges in the housing sector. “Solving it will require bold reforms, innovative financing, and strong political will”.
He noted that “A nation cannot truly prosper when its citizens struggle to afford a decent place to live. By addressing the root causes of the rent crisis, Nigeria can take a decisive step toward achieving inclusive growth, economic stability, and a more equitable society”, he added.
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