Residents across parts of Lagos say soaring house rents are becoming unbearable, calling for urgent legislative and executive action to avert a worsening housing crisis.
In interviews on Tuesday, residents revealed that rent now consumes nearly half — or more — of their annual income, leaving little for savings or basic needs.
A 2023 report on Nigeria’s housing market found households spend between 50% and 70% of their income on rent — far above the globally recommended 30% threshold — describing the trend as a sign of “structural dysfunction” rather than a temporary spike.
Rasaq Adebanjo, a resident of Ogba, said rising accommodation costs have become overwhelming.
“House rents in Lagos have become too expensive. Some landlords even state that rent increases automatically after three years. And that’s if you can find one you can conveniently pay for without it consuming your entire yearly income. It’s really hard,” he said.
Mercy, a National Youth Service Corps member, described her shock while searching for accommodation after arriving in Lagos.
“An agent asked for N1.5 million for a mini flat in Surulere — not even on the Island. I was shell-shocked,” she said.
She added that even pooling resources with colleagues did not solve the problem.
“We earn N77,000 allowance and a N30,000 stipend from the company where I’m serving, yet we still couldn’t afford an apartment.”
A recent graduate, Peter, said he now lives with a relative in neighboring Ogun State due to high rents.
“Transport alone is extremely expensive. I still don’t understand how people adapt to this in Lagos,” he said.
Damola Hafiz, a banker in Obalende, warned that the situation could deteriorate without decisive action.
“I paid N800,000 last year. This year, my landlord increased it to N900,000 for a single room in Ketu. When I protested, he asked me to leave. After house-hunting, I had to return and beg,” he said.
Another tenant, Moses, said rising living costs have made saving nearly impossible.
“When someone earns N300,000 monthly and cannot save even N50,000 at year-end because everything goes to rent, food and transport, it leads to frustration,” he said.
Ayodele Adio, a Lagos State House of Assembly aspirant for Eti-Osa, described the situation as a “rent crisis,” noting that many residents spend 60% to 70% of their income on rent and transportation combined.
“When people are spending almost all their earnings just to keep a roof over their heads and get to work, something is broken,” he said.
Citing inflation data from the National Bureau of Statistics, Adio proposed tying rent increases to official inflation rates. Under the proposal, landlords would only be allowed to raise rents within the previous year’s inflation margin.
He also proposed legislation to cap agency and legal fees at 5%, require a minimum 12-month notice before rent increases and limit rent hikes to once every three years.
Adio called for tighter regulation of short-term rental platforms such as Airbnb, arguing their expansion has reduced long-term housing supply.
“These are short-term stabilisers. The real problem is supply,” he said.
He advocated building at least 20,000 housing units annually over the next decade and urged greater government involvement in housing delivery.
“Land costs are high, building materials are expensive and the cost of capital is rising. If only the private sector builds, prices will continue to climb. Government must intervene massively,” he said.
Adio also called for mortgage reforms to improve access to long-term, affordable financing for working-class residents.
“Reducing rent burdens, improving transportation and strengthening public services will free up income, stimulate businesses and promote economic growth,” he said.
Lagos State Commissioner for Information and Strategy Gbenga Omotoso did not respond to requests for comment.
