₦airaland Forum

The House of Representatives has called for urgent measures to regulate arbitrary rent increases by landlords across the country, proposing a nationwide cap limiting annual rent hikes to no more than 20 percent of existing rates.

This followed the adoption of a motion on the “Need to Regulate Arbitrary Rent Increase and Protect Tenants from Exploitation” moved by Hon. Bassey Akiba during Thursday’s plenary.

Presenting the motion, Akiba cited examples from the Federal Capital Territory (FCT), where rents in some neighbourhoods with newly constructed roads have reportedly jumped from N800,000 to as high as N2.5 million per annum, placing an unbearable financial burden on tenants.

Akiba decried the “wanton exploitation” by property owners who take advantage of public infrastructure improvements to impose arbitrary rent increases, saying such practices undermine the government’s welfare initiatives and could drive vulnerable citizens into crime to meet inflated demands.

Adopting the motion, the House urged the Federal Government to prioritise investment in affordable housing schemes to reduce pressure on the rental market and ensure access to low-cost housing for citizens.

It also urged the Federal Ministry of Housing and Urban Development to collaborate with state governments to enforce rent control measures, ensuring that public infrastructure projects do not trigger exploitative rent hikes, and to cap rent increases at no more than 20 percent of existing rates, irrespective of new developments or other factors.

The House further mandated its Committee on Housing and Habitat to ensure compliance with the resolutions and report back within four weeks for further legislative action.

iwaeda:
How many estates have they built for the poor? They are increasing from fuel to food and essentials, but don't want landlord to increase theirs.

iwaeda:
How many estates have they built for the poor? They are increasing from fuel to food and essentials, but don't want landlord to increase theirs.

OkanlawonB:
Such capping will not work, one significant means of controlling rental prices is by providing government built low cost housing as was done by Ahji Lateef Jakande in 1979/80 as the Lagos State governor.
He built numerous low cost housing estates at various Locations like Iponri, Ojokoro, Iyana Iba, Isolo,and Amowo Odofin, Just to name a few.

Rindo69:
How do you want to achieve this? How many housing estates has the FG built. You didnt regulate price of cement, blocks, iron, land, gravel and other building materials. An individual builds his house and then has to put in infrastructure; roads, water, drainage...then FG wants to regulate the rental value?

Granted, landlords are exploiting tenants but rather than cap rents...tax empty properties heavily especially unoccupied estates. Owners will be forced to put them up for rent or have them occupied. Hopefully...more houses on the rental market will lower rent.

GenghisCan:
See how landlords the lament and attacking the man

Nigerians are too greedy and selfish, imagine from 800k to 2.5m

advanceDNA:
Awon werey....when u wanted to wreck the naira/peoples purchasing power, causing catastrophic increasing in price of goods and services, did u ensure it was not more than 20%??

Eyin werey.....there is no goods or service that ddnt increase in price by at least 500%>>> yet you are playing politics by pretending to care for tenants.....
first go and put a leash on cost of production, price of goods, electricity, currency, cost of transport before you'll have the right to tell people how much tolet out their houses