Nigeria’s biggest cities, like Lagos and Abuja, are vibrant cultural and economic hubs, hosting major music festivals, art exhibitions, and fashion events that attract global attention. Young creatives and entrepreneurs are transforming these cities, but while opportunities are growing, actually living in them is becoming increasingly difficult, especially when it comes to rent inflation.
Rent prices are rising faster than most people’s incomes, making affordable housing harder to find. Many are forced to live far from work or settle for overcrowded spaces. With demand surging and landlords hiking prices, renting in Nigeria has become a serious struggle.
X user @AyshaHamman highlighted Abuja’s pricing crisis
Another user, @omonna14, shared his frustration over his friends renting a mini flat for ₦1.6 million.
ALSO READ: Understanding Rental Agency and Legal Fees in Nigeria: Who Pays and Why?
Many others have come out in similar fashion to express their shock over the inflation that has cast over real estate in major cities.
The frustration over high rent prices and housing inequality has led to heated debates on social media. One major case currently unfolding in the digital space involves popular content creator Scott, who is facing a N100 million defamation lawsuit from a real estate company.
Scott has built a following by calling out real estate companies that overprice their houses and comparing them to similar properties in other countries. His content highlights the stark differences in affordability, quality, and fairness between Nigerian rentals and housing markets abroad.
Many Nigerians support him, seeing his work as exposing industry negligence and speaking up for struggling tenants. However, real estate companies argue that his comparisons are misleading, failing to account for factors like Nigeria’s inflation, infrastructure challenges, and market structure.
This legal battle highlights a critical issue: how much power do digital influencers have in shaping conversations about rent and housing? More people now rely on social media for information, making it essential to distinguish personal opinion from potential defamation. The case also raises questions about how much transparency the real estate industry is willing to tolerate.
Can Social Media Protest effect changes on Nigeria’s Real Estate Market Price
Social media has become a powerful tool for activism in Nigeria, enabling citizens to voice concerns and mobilize for change. Notable movements like #EndSARS in 2020 showcased how online platforms could amplify public outcry. In August 2024, the #EndBadGovernance protests addressed issues like soaring inflation and fuel prices, further highlighting social media’s role in organizing large-scale demonstrations.
Despite these successes, the impact of social media protests on Nigeria’s real estate market prices remains limited. The real estate sector is influenced by complex factors such as economic conditions, government policies, and urbanization trends. While social media can raise awareness about housing affordability and pressure policymakers, translating online activism into changes in property prices is quite challenging.
The entrenched nature of property markets, coupled with regulatory and economic complexities, means that altering real estate prices requires sustained policy interventions and economic reforms beyond the scope of social media activism alone.
ALSO READ: Detty December: Real Estate Lessons for Future Opportunities
What Can Tenants Do in the Meantime?
While waiting for systemic reforms, tenants can take practical steps to manage the rising cost of rent.
1. Consider Co-Living or Shared Apartments
With rent prices soaring, co-living has become a viable option for many Nigerians. Instead of renting a one-bedroom flat alone, tenants can opt for a two- or three-bedroom apartment and split the costs with trusted roommates. For example, a mini-flat in Lagos might cost N1.5 million per year, while a three-bedroom apartment in the same area could go for N3.5 million. By sharing, each occupant could end up paying much less than if they rented separately.
2. Negotiate Rent with Landlords
Many tenants assume rent prices are fixed, but landlords are sometimes willing to negotiate, especially if they believe the tenant is reliable. Offering to pay a longer-term lease upfront or demonstrating a stable income can improve bargaining power. Some tenants have successfully negotiated 5–10% reductions, particularly in areas where demand isn’t excessively high.
3. Explore Rent-to-Own Options
A few real estate developers now offer rent-to-own schemes, where a portion of the rent paid goes toward eventual ownership of the property. For instance, some housing projects in Abuja and Lagos allow tenants to make structured payments over 10–15 years, gradually transitioning from renters to homeowners without requiring a mortgage. While not yet widespread, these options are worth exploring for those who want to escape perpetual renting.
4. Plan Your Finances Wisely
Rent is often the largest annual expense for many Nigerians, making financial planning essential. Setting aside a portion of income each month in a dedicated rent savings account can help prevent last-minute financial strain. Additionally, using cooperative societies or thrift savings groups (ajo/esusu) can provide lump sums when rent is due, easing the pressure of upfront payments.
What Can Be Done to Fix Nigeria’s Rental Crisis?
Renting shouldn’t be a lifelong financial burden, yet for many Nigerians, it feels like one. Addressing the housing crisis requires a mix of policy changes, financial solutions, and better regulation. Here are some possible ways to make housing more affordable.
1. Government Regulation on Rent Pricing
Many experts believe Nigeria needs some form of rent control laws to prevent landlords from arbitrarily increasing rent. While a free market is necessary, unchecked price hikes have led to exploitation, forcing tenants to spend a large portion of their income on rent. Some countries, like Germany, use rent caps to prevent excessive increases, ensuring affordability while still allowing landlords to profit. In Nigeria, states like Lagos and Abuja could introduce similar policies to prevent rent from rising faster than inflation and wage growth.
2. Flexible Rental Payments
One of the biggest challenges for Nigerian tenants is the requirement to pay rent annually or biennially. In most developed countries, tenants pay rent monthly, making it more manageable.
One solution is rent financing, where banks or fintech companies offer short-term loans, allowing tenants to pay in monthly installments while landlords receive full payment upfront. Another approach is structured payment plans, where landlords accept quarterly or bi-annual payments instead of a lump sum. Offering discounts for early payments or flexible terms for reliable tenants can help reduce defaults.
3. More Affordable Housing Projects
Nigeria has a housing deficit of over 28 million units, meaning the supply of homes is nowhere near enough to meet demand. One solution is for both the government and private developers to invest in mass housing projects, providing low-cost, high-quality homes for middle- and low-income earners. A few initiatives, like the National Housing Fund (NHF) and Family Homes Fund (FHF), exist, but their reach is limited, and many Nigerians struggle to access them. In comparison, countries like Brazil have successfully implemented large-scale public housing programs, such as Minha Casa Minha Vida, which has provided millions of affordable homes. If Nigeria could replicate similar efforts, housing costs would drop, making rent more affordable.
4. Better Mortgage and Homeownership Options
In developed economies, most people buy homes through long-term mortgage plans, repaying over 20–30 years. In Nigeria, however, mortgage interest rates can exceed 20%, making homeownership nearly impossible for the average worker.
Lower interest rates and government-backed mortgage schemes would allow more Nigerians to transition from renters to homeowners. Countries with supportive housing policies, such as Kosovo (6.3%), Romania (6.76%) and Singapore (around 2.4%), have successfully implemented mechanisms that make homeownership more accessible. Nigeria’s government could partner with banks to create a similar scheme, enabling workers to purchase homes with affordable repayment plans.
5. Strengthening Tenancy Laws
Lagos already has a Tenancy Law (2011) that prevents landlords from demanding more than one year’s rent upfront, yet many landlords completely ignore this law. A lack of enforcement means tenants continue to struggle with two-year rent demands, even in cases where the law is technically on their side. Strengthening these laws and introducing clear penalties for non-compliance could help protect tenants from exploitation. In some countries, such as the United Kingdom, tenants can report landlords who break rental laws, and the government actively mediates disputes and enforces penalties. If Nigerian states adopted similar tenant protection mechanisms, landlords would have to follow the rules, easing the financial pressure on renters.
6. Alternative Housing Solutions
Countries like China and Singapore have successfully implemented state-sponsored public housing, allowing people to rent or buy affordable homes at reasonable rates. In Singapore, over 80% of the population lives in government-built housing, and residents can gradually buy their apartments with long-term payment plans. Nigeria could adopt a similar model, where the government directly funds and builds housing estates for low- and middle-income earners. This would reduce dependence on private landlords, ultimately driving down rent prices.
What are your thoughts on Nigeria’s rental system? Have you faced rent struggles before? Share your experience in the comments!
