₦airaland Forum

Gerrard59:
You stated this...


Then this....


Then this...

Bros, this is either trolling or sarcasm, or you don't understand what you have there.

P.S. A free market economy allows importation. Nigeria is not self-sufficient in cement production, else the price should not be at its current price.

Dancebreaker:
One main issue is that the cost of budding a house is almost similar in Ikorodu and Ojo. Costs in GRA Benin and Oluku near Benin are virtually same.

The cost of land is what may differ quite a lot. If you built a standard 2 x 3-bed flats for 70million and rent both out, how long will it take you to recoup investment? Very long. And you need ongoing maintenance.

Not to mention high inflation that necessitates rent increases that tenants find annoying. Rental agents have to eat too.

Cromagnon:
o so you want good infra but you don't want to pay
Who is your slave what is fair pricing?
Build your own then price it fairly na

thesicilian:
I once met an agent who said the same thing you just posted, almost word for word. Funny thing is, he lived in a dirty face-me-I-face-you single room of 5k per month in Bariga. He said this when I complained about the substandard nature of the 2 bedroom flat he was showing me for 3.5m at Mende, Maryland.
Maybe you're even the one self.

Rutherinspace:
Again I'll be clear. The government should not allow importation of cement. Whoever encourages that has no idea of that industry.
FYI: Nigeria holds one of the largest reserves of limestone in Africa. Limestone is exported.

Also understand words based on context. Free market doesn't mean free trade. A country can operate a free market domestically while maintaining regulated international trade.

Josywhyte:
One landlord in ph, during the COVID-19 pandemic, reduced rent for his tenants by 30% so they could pay for their rent. Last year, he reduced the rent again because of the economic hardship.
Late last year, the said landlord ran into some financial struggles. Guess what? All his tenants came out to bail him out financially and even gave him money to restart his business. There was an estate meeting which all landlords agreed to increase rent. He told his tenants about it that the rent has been increased by 20%,none of them argued. They all paid with joy. I mean standard houses. Most of the tenants don't want to leave the compound. They're still there paying the rent. Most landlords are heartless wen it comes to rent. Even the ones that built their houses in the 90s are telling you "building materials don cost" as if they built the house this year. Just find the one your money can afford because yahoo boys don make most landlords turn their heart backwards

Adakintroy:
Rent no high for Lagos na you wan stay porch area. I de stay mile 12_ 150_ 250 for room self control depending on the facility. Water de rush light de nomal. That na millions for some area

potent5:
Madam, go and build your own house and give it out for free. You won't hold government responsible, it's a private person who invested his money that's your problem. Go and live under the bridge if you like.

omoredia:
Sebi u encouraged Yahoo boys now landlord has gotten the format.

davidotokiblog1:
But it’s not always that simple. ‘Cheap’ apartments often come with serious issues poor water supply, bad infrastructure, or unsafe environments. That’s exactly why people complain, not just about price but about the standard of living.

Telling people to just move back to their parents doesn’t address the real issue. The discussion is about fair pricing and decent living conditions, not avoiding responsibility. Everyone deserves a reasonable place to live for what they pay.

Gerrard59:
Yet housing is expensive, and there is a severe shortage. How does the problem get solved since one of the major components of construction is very expensive?


Not while housing is expensive. The govt allowed the importation of food, so prices reduced. The same govt allowed the importation of derivatives of cassava into the country, and there was a corresponding decrease in cassava prices within the country because the major buyers/off-takers (the pharmaceutical industry) bought imported products. The pharma industry lobbied for the importation.

Nigeria, which produces cement and has huge limestone deposits, is meaningless when cement prices are very high which result in high rents. Allow the importation of cement to ease prices so the wider population can construct more affordably. Countries do this to ease prices, just as they restrict exports for national security purposes. Our govt has done the same with food and plans to do the same with eggs by attracting an almost $1BN investment from the Chinese. Why should it be different with cement?

Rutherinspace:
Nice take on the subject. The reason for the high cost of housing is not only because of cement. There are many factors but cement price is one of them.
Dangote is a dominant player in the industry. It controls over 60% of the market and influence prices and economic activities in that industry.
When you control over 60% of the market you have monopoly power which is bad for the Nigerian economy.
The government can encourage other investors in that industry. My initial post was for the government to create a level playing field for all investors. During Obj regime he was favoring Dangote to the detriment of other players. When you favour some investors and allow others to die, it destroys the economy. Nigeria can have one of the cheapest cement prices in the world through such reforms and not through importation.

potent5:
Madam, go and build your own house and give it out for free. You won't hold government responsible, it's a private person who invested his money that's your problem. Go and live under the bridge if you like.

thesicilian:
I once met an agent who said the same thing you just posted, almost word for word. Funny thing is, he lived in a dirty face-me-I-face-you single room of 5k per month in Bariga. He said this when I complained about the substandard nature of the 2 bedroom flat he was showing me for 3.5m at Mende, Maryland.
Maybe you're even the one self.

Hungrychicken:
Real estate is not a get rich quick investment. So, stop using greed to bill tenants.

Offpoint1:
Nigerians are not known for paying back loans and a lot of Nigeria factors can prevent those who truly want to pay back along the line.

davidotokiblog1:
As the OP, I’ll say this clearly this discussion is not about attacking individuals or guessing who anyone is. Let’s keep it focused on the main issue rather than turning it into personal assumptions. Contributions are welcome, but let’s keep it civil and on topic

nairalanda1:
The federal mortgage bank works. Some of the major banks eg first bank also provide mortgages.

The problem is income. Most nigerians work in the informal sector, so they can't afford a sustainable way of paying back their mortgages on time, but yes, we have a working mortgage system

And yeah, even in sane countries, people run into problems paying back their mortgages.

davidotokiblog1:
But it’s not always that simple. ‘Cheap’ apartments often come with serious issues poor water supply, bad infrastructure, or unsafe environments. That’s exactly why people complain, not just about price but about the standard of living.

Telling people to just move back to their parents doesn’t address the real issue. The discussion is about fair pricing and decent living conditions, not avoiding responsibility. Everyone deserves a reasonable place to live for what they pay.

Hungrychicken:
See as you de argue de comot spit for mouth.
You must be an agent, those people are insufferable. Na that agent fee de sweet you to collect

potent5:
Madam, go and build your own house and give it out for free. You won't hold government responsible, it's a private person who invested his money that's your problem. Go and live under the bridge if you like.

blackmantis:
The rate it is going Government may have to step in and regulate the cost of house rent. How can someone in Calabar or Benin be asked to pay thee same rent as someone in Kubwa or Lekki.

The earnings in each state differs. While you can get a job of 250k to 500k in Lagos or Abuja where will you get such in Calabar or Benin.

JooEeL:
Yahoo na

The landlords in Benin have caught the format

AllBlack:
When will you ever build a house?

before you become manure when will you ever have tenants in this life?

Your father failed means you will fail? Yes?

Unfortunate boy. You will only get older in age but you will spend your existence in tears and anguish achieving Nothing but sad tears.

AllBlack:
When will you ever build a house?

before you become manure when will you ever have tenants in this life?

Your father failed means you will fail? Yes?

Unfortunate boy. You will only get older in age but you will spend your existence in tears and anguish achieving Nothing but sad tears.

Love800:
In summary what message are you trying to pass?
Am interested in your comment.

Josywhyte:
Go for the one your money can afford