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Surge In House Rent: Millions Of Lagos Residents Face Displacement
LAGOS – A relentless surge in rental prices across Lagos State over the past two years is pushing millions of residents, especially low-income earners, towards homelessness and economic hardship.
Findings by Sunday Independent indicate that accommodation costs in both urban and suburban areas have risen by over 100 percent in many locations, forcing families to consider relocation or drastic lifestyle adjustments.
Surveys conducted in Lagos Island, Tinubu Square, Oshodi, Ajegunle, Ojo, and Agege reveal that a single room now rents for about N300,000 per year, exclusive of agency fees, caution deposits and other charges that bring total entry costs to N600,000.
Two-bedroom apartments in middle-income areas such as Festac Town, Satellite Town, and Ogba now attract between N1.2 million and over N2 million annually, excluding additional charges.
Estate agent, Mrs. Anne Jonathan, confirmed that no two-bedroom flat in Satellite Town, Agboju, Maza or Tradefair is available for less than N2 million a year.
In Ajegunle, Amukoko, Ojo, Alimosho, Mushin and Agege, a two-room self-contain goes for N700,000, while total move-in costs rise to N1.3 million.
In Igando, Ikotun and Isheri, rents for two-bedroom flats have jumped by as much as 150 percent, now ranging from N800,000 to N1.3 million, according to estate agent Prince Olalekan Ojo.
Agents in Egbeda put current prices at N3 million for a three-bedroom flat and N1.8 million for a room-and-parlour self-contain.
They attribute the increases to inflation, rising building material costs, electricity tariffs, tenement rates and other levies.
High-demand areas such as New Festac, Okota and the Post-Service Housing Estate in Ojo now attract N4 million and above annually for three-bedroom apartments—far beyond the reach of average income earners.
Residents Groan
Many Lagos residents say the rising costs are unbearable.
Mr. Lucky Nwosu, a clearing and forwarding agent in Ojo, said his rent rose from N400,000 to N800,000, forcing him to consider relocating his family to Abia State.
“Landlords in Lagos are frustrating people. It looks like a deliberate attempt to force some people out of the state,” Nwosu lamented.
A single mother, Mummy David, said her rent for a two-room self-contain increased from N120,000 to N300,000. She now plans to move into a single room with her youngest son and send her two older children to stay with friends.
At Iba-LASU, car dealer Godspower Ukala, revealed that the 16-unit building he lives in has been put up for sale and tenants have been given quit notices to vacate by December 2025.
The cheapest two-bedroom flat available in the area now costs N800,000, with overall move-in costs rising to N1.3 million.
Small businesses are also affected. Provisions seller Fatima Ajayi said she may shut her shop and relocate because she can no longer afford N300,000 annual shop rent and N250,000 living apartment rent amid declining sales.
Landlords Cite Rising Construction Costs
Some landlords insist their hands are tied due to inflation and escalating building material costs.
Property owner, Mr. Stanley Nweze, said he is selling off properties in Igando, Ikotun and Iba because rental income can no longer support his business needs.
Alhaji Tajudeen, another landlord, said: “If government reduces inflation and the cost of building materials, rents will naturally come down. As it stands, prices increase almost daily.”
Lagos Assembly Moves to Curb Arbitrary Increases
The Lagos State House of Assembly has called for strict enforcement of the Tenancy Law of 2015, which limits advance rent to six months for monthly tenants; one year for yearly tenants, and prohibits unreasonable rent increments.
The House tasked the Attorney-General with enforcing the law and directed the Ministry of Information to embark on an intensive public sensitisation campaign.
Mover of the motion, Lukman Olumoh (Ajeromi–Ifelodun I), noted that arbitrary rent hikes are worsening homelessness. Desmond Elliot (Surulere I) reported increases of 100–200 percent in his constituency and called for a review of laws permitting multi-year advance rents.
Other lawmakers condemned illegal evictions and rent increases imposed without adequate notice, urging the government to expand affordable housing options.
Speaker Mudashiru Obasa linked the rent crisis to rising construction costs and called for engagement with real estate stakeholders to find long-term solutions.
Expanding Housing Deficit
Nigeria’s population of 220 million, growing at 2.5 percent annually, is driving rapid urbanisation. The UN projects that 60 percent of Nigerians will live in cities by 2030, worsening the housing deficit.
Experts estimate that Nigeria needs N5–N5.5 trillion, and 550,000 to 2 million new housing units yearly to address a deficit now estimated between 20 million and 50 million units.
At a recent Africa International Housing Show, experts warned that the country must construct at least two million homes annually for 20 years to close the gap. This requires each state to deliver a minimum of 56,000 units annually.
Calls for Rent Control, Government Intervention
Several estate agents—including Prince Akintode (Alimosho), Timothy Akande (Agege) and Alhaji Taju Ibrahim (Ikotun), blamed landlords for excessive rent increases and additional charges of up to N400,000 for agreement and caution fees.
Stakeholders emphasise that as the government works to stabilise the economy, strong rent control measures and expansion of low-cost housing initiatives are urgently needed.
Without decisive action, millions of Lagos residents risk losing both their homes and their livelihoods.
– Sunday Independent
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