₦airaland Forum

KaLuCh:
Omo, make I no lie, To slap you dey hungry me. I dey tell you.

E no go surprise me say that person na APC agent, Most of dem don't even reason.

CoronaVirusPro:
Only in Lagos!

Leave the state if you want peace, sanity, safety and best of health. It’s not worth it.

Only in Lagos?!!

Sigh... You see my issue with many of you?!!

You all think life in Nigeria begins and ends in that global slum called Lagos.


Inflation is wrecking havoc unchecked across the nation, but because you have never traveled nor lived beyond your "discomfort" zone in the Southwest, you have concluded that all is well all over Nigeria.


Call somebody or people in other states and ask questions. Look up current rent prices in Delta, Edo, Imo, etc.

I wonder what rent will be when the compulsory householder insurance takes effect.

Our 2 bedroom is 1.3m sha

ednut1:
Nigerians like to buy land for outrageous prices which drives up cost of buildings. Last last some of us need to go back to mud houses

come buy land or house in Abuja

Edoreborn:
This is serious oooooooo..the funny thing be say u go still see people dey rush am..u begin to wonder where d money dey come from

Exactly

Adaumunocha:
come buy land or house in Abuja

i no get money o.
Wait o is this Ada from wey back that stayed around ikotun axis or so.

Big problem

Why won't Rent crisis hit the skies, when cities like Lagos and Abuja etc are experts in demolishing houses. Una never see anything. You can't provide houses, the small that the private borrow money build u demolish it. You are not even demolishing structurally failed buildings oo it is very strong houses you are breaking down.

I'm developing some flats which is like a mini estate in awka and I swear if he rents the flats for less than 3mil, then I will confirm he is a modern day Jesus. His lawyer who comes from time to time to inspect the new project told me how he insisted on not raising the rent of his current houses. I wanted to call him and question his sanity but each to his own calling in life.

The monopoly of dangote in the cement industry, raising cement to 10k per bag is one of the causes of rent hike

Nonexisting1:
I'm developing some flats which is like a mini estate in awka and I swear if he rents the flats for less than 3mil, then I will confirm he is a modern day Jesus. His lawyer who comes from time to time to inspect the new project told me how he insisted on not raising the rent of his current houses. I wanted to call him and question his sanity but each to his own calling in life.

What is your business if the landlord wants to charge low rents so his houses will be affordable?

People like you are part of the problem

Apcnewrecruit:
The monopoly of dangote in the cement industry, raising cement to 10k per bag is one of the causes of rent hike

Did Dangote prevent you from building your own cement factory?

Princedapace:
And they want me to pay 25 percent of my income to govt after all these plus VATs, bank taxes, import taxes and I will fetch electricity for my self, fix my car becus of bad roads, pay expensive private hospitals that are actually wacky. Make una dey play. Na this tax go show Tinubu serious pepper when he starts blocking accounts and arresting youths, especially G boys. lol, na wetin cause endsars problem

Don't mind him! That law can't be enforced in Nigeria,this is not Europe or America.

Gerrard59:
To solve the housing shortage problem anywhere is relatively simple:

- Increase the supply of land and ease the process of building houses/apartments. The government should also go into public housing provision. That is what the Singapore government does. After COVID, property prices ballooned because of WFH policies, returning Singaporeans from abroad, people who emigrated from Hong Kong because of kini kon CCP laws, rising costs of labour as most workers moved back to their home countries, rising costs of building materials because of supply chain backlog from COVID etc. Expectedly, citizens complained and the government rose to action by easing border rules for construction workers and investing massively into newer PUBLIC housing developments. On the other hand, she released new lands to private developers while also increasing the taxes on those who purchased more than one property. The government also increased the tax rates on foreigners who purchased properties and closed loopholes. As I write, house rents have declined considerably compared to 2022 levels. It is not magic, but specific government policies.

- In Hong Kong, prices plummeted as many foreigners emigrated for various reasons. The government still had to invest in PUBLIC housing developments to satisfy the demands of younger Hong Kongers, especially as housing is tied to marriage, which is tied to fertility rates. But because the HK City Council generates hooge revenues from land sales, the government has not reduced the prices, unlike its counterpart in Singapore. However, compared to pre-COVID, house prices have declined significantly. To prop up demand, the government has eased immigration rules.

P.S. None of those governments DICTATED or stipulated to private developers the prices they should peg to lease their properties like our resident Karl Marxes argue, foolishly as expected anyway. Dictating to private developers how to price their rented properties has not worked anywhere in the world.

---

To solve Lagos housing issues, again, it is simple:

- Lagos MUST build UP. It is Nigeria's smallest state with the biggest economy and the most populous. That is more than enough to warrant consistent and increasing demand for apartments.

- High-speed railways to Ogun, Oyo and even Osun states. Everyone must not live in Lagos itself. Well-tarred roads leading to train/metro hubs so that commuters can easily and quickly move from Point A to Point B. Make driving, especially personal cars/vehicles, expensive within Lagos itself. Upgrade and privatise the water ferry transport systems. Insist on safety, cleanliness, punctuality and efficiency.

- Other states should be opened up economically so that the majority of young Nigerians don't have to move to Lagos to begin their nascent careers. States like Delta, Edo, Ogun, Oyo, Ebonyi, Bayesla, Cross River, Benue, Nasarawa, Niger, Kaduna, Plateau, and even the unfortunate Kogi should and can be developed as commuter hubs for residents. That is how it is easy in Japan, where most commuters live in Chiba and Saitama but work in Tokyo. How is this possible? Trains!

Are we so unintelligent in that part of the world that we cannot copy good things from others who have mastered them?!

For those aforementioned states to become commuter zones, invest in infrastructure, especially roads and railways, and most importantly, in security. Again, these are simple policies. Nothing is hard here, as it is not rocket science.



Because fewer people are not building newer homes for tenants to rent. People rather build and offer as Airbnbs. The Airbnb phenomenon also affects house prices elsewhere in the world. Since private investors own those properties, the government cannot regulate them, so the government should invest in public housing. The Singapore government banned Airbnb in public housing.



How is that bad? Is the landlord unaffected by the increase in goods and services in 2024? Is the value of 50K in 2013 the same as 50K in 2024? The very reason why landlords with older homes can increase their prices to compete with newer ones is supply and demand. I already covered supply above. If the demand for residential properties remains consistently high, basic and elementary economics says there would be a corresponding increase in the prices of properties regardless of their ages.



And if the shape is renovated to 2024 standards, should the landlord lease them on 2013 prices because the property was built in 2013? Is the price of cement in 2013 the same as that in 2024? What about the wages of construction workers?



It is not wickedness but basic economic principles and concepts. Nigerians have this attitude of using words anyhow. Wickedness is when the landlord outrightly refuses to lease the property even after offered millions. Looking at it again, that is not wickedness because the landlord has the right to choose whether or not his property should be rented out.

If you want to be kind with your properties, it is very simple. Go out there to build houses and rent them out however you like. That is the beauty of capitalism: you choose what to do. Hopefully, you and many others get to practice what you people have mendaciously preached in this thread.

Nothing has changed. The solutions are simple. Other people have implemented them.

.

NNtv:
This rent matter is very serious. Imagine paying 1.5m for two bedroom apartment and agents will be at the other conner asking for extra 1m that will cover their fee, lawyer agreement and management.
Now, how many youth or public services employees can afford that.
It is clear price of things in Nigeria raises by the drive of yahoo guys because they are the only people who can easily pay such.

What about remote workers who earn between $1K - $2, 500 per month? Abi na every young person dey do yahoo?

Please how do I get the loan? What are the requirements?

ednut1:
Nigerians like to buy land for outrageous prices which drives up cost of buildings. Last last some of us need to go back to mud houses

They call it land banking

Apcnewrecruit:
The monopoly of dangote in the cement industry, raising cement to 10k per bag is one of the causes of rent hike

BUA exists. A Chinese company bought over Lafarge.

That is not a monopoly.

ednut1:
i no get money o.
Wait o is this Ada from wey back that stayed around ikotun axis or so.

One and only. Good you doing good

You see Tinubu he came to ruin a generation

Yet the mofo that resides abroad is praying that Nigeria should happen to him. That prayer HAS been answered. Give it time!

Housing Deficit

Living in Urban Areas

Inflation

Greed and greedy Nigerians

#2.5m for a 2 Bedroom Flat? That's too much.

bazoodo:
Truth is today the housing deficit crisis Nigeria is facing today is as a result of the failure of governments post 1999 in planning ahead for the future. Kids born post 1999 today are already adults. Most of them are into tech legitimately and earn in USD while living in Nigeria. So a civil servant who barely earns 500k a month is forced to compete in the rental market with a young person working remotely earning USD 🙄🙄. So it's very sad situation

If APC apologists have some active brain cells, Nigeria’s problem would not have been this complex.
Are you not aware that some civil servants earn below 500K ANNUALLY?
Are you now pretending to not know that you must be at least in Grade 15 , which is a director cadre, for you to be thinking of up to 500k monthly?
Even if you don’t know, go to Google , use chatbots…better still make a call. Keep hyping failure. It only makes it worse .
The worst that can happen is Tinubu doing two terms. There is life after that. But history will remember him as the nightmare that should never have been.

Angelfrost:
A nation's citizens are getting poorer but prices of everything are flying up.

My question remains... How is the minimum wage in Nigeria not keeping pace with rising cost of living?!!

I mean... Globally, it's called "Living" wage for a reason!

If minimum wage is 70k, then rent and other basic necessities shouldn't rise beyond the affordability capacity of such!


This is how it works world over.


Something is seriously wrong with this nation...!

i dont even see nigeria as a nation, geographical location is what it is....

this cannot be a nation by any definition

Mblingz:
The best thing for man to be safe from these shit is to build his own house.. thou depends on area for you to rent house 2.5milli

is it from under bridge you would move to your personal house?

press9jatv:
It's the high inflation rate in the economy that caused it.

Dangote cement has still not reduced in price yet for more 7 months now.

What has Dangote cement got to do with the removal of subsidy to make petrol and life unaffordable for Tinubu to save $84 billion for his luxury and stealing to bribe politicians for his reelection?

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

CoronaVirusPro:
Only in Lagos!

Leave the state if you want peace, sanity, safety and best of health. It’s not worth it.

Asaba is 2.5m for same 2 bedroom
Benin is 2.5m for same 2 bedroom.

Funny thing is, these houses are not new ones but old houses, just touched and repainted.

What a country if it is china or europe you will be hearing of 40,000 housing units construction going on all over d places.

Thank God say I get my three bedroom flat jeje.. but I put 4 shops for rent I dey collect 270k each yearly.. I dey plan increase am self lol