In a significant development aimed at addressing the rising cost of housing, the Nigerian House of Representatives has called for a cap on rent increases to no more than 20 percent of the existing rent across the country. This move, spearheaded by Bassey Akiba, the member representing Calabar Municipality/Odukpani Federal Constituency, was adopted during plenary on Thursday.
The resolution follows growing concerns over arbitrary and exorbitant rent hikes that have severely impacted tenants, especially in urban centres. Akiba highlighted that landlords often exploit government infrastructure projects such as new roads and markets to drastically increase rents, sometimes raising annual rents from ₦800,000 to as high as ₦2.5 million in parts of the Federal Capital Territory (FCT).
Describing this trend as “wanton exploitation,” the lawmaker stressed that these sudden rent surges undermine government efforts to improve citizens’ welfare and contribute to economic hardship, pushing many Nigerians into debt or even crime as they struggle to meet inflated rental demands.
The House urged the Federal Government to collaborate with state governments to implement and enforce these rent control measures, ensuring rent increments are capped regardless of infrastructure improvements.
Additionally, the Ministry of Housing and Urban Development has been mandated to oversee compliance alongside the House Committee on Housing and Habitat, with a report due in four weeks.Besides the rent cap, lawmakers called for urgent investment in affordable housing schemes to ease demand pressures on the rental market. This legislative action comes amid warnings from real estate stakeholders about the adverse effects of rising land and construction costs on Nigeria’s housing deficit.
The House’s proactive approach seeks to strike a balance between property owners’ rights and tenants’ economic realities, aiming for fairness, sustainability, and stability in the housing sector nationwide.
