The National Youth Council of Nigeria (NYCN) has backed Lagos State Deputy Governor, Dr Obafemi Hamzat, over his call for economic policies that would improve the earning capacity and living conditions of young Nigerians.
NYCN Lagos Chairman, Mr Adigun Ibrahim, made the position known in a statement issued in Lagos on Sunday, saying the council agreed that stronger incomes were essential to helping young people cope with rising housing and living costs.
Ibrahim said the challenge facing young workers extended beyond employment opportunities to whether their earnings were sufficient to support independent living. He noted that rent and other essential expenses were placing increasing pressure on young people whose incomes had not kept pace with the cost of living.
Hamzat had argued that improving the economy should include creating conditions that allow citizens, particularly young people, to earn more. He also pointed to the reliance of many young workers on parents and relatives for accommodation, especially at the early stages of their careers.
According to the deputy governor, controlling the cost of essential goods and services should be part of efforts to improve living conditions. The comments highlight the connection between household purchasing power and access to housing, particularly for workers attempting to establish independent households.
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Ibrahim said NYCN welcomed the emphasis on affordability but stressed that assistance from family members should serve as a temporary support system rather than a substitute for economic and housing policies that enable young people to live independently.
The council called for greater investment in affordable housing, improved wages, decent employment and economic programmes targeted at young people. It also advocated wider access to housing finance to help young workers obtain decent accommodation without placing excessive pressure on their incomes.
The issue has broader implications for Nigeria’s housing sector because housing affordability is closely tied to income levels and access to finance. Even where housing supply exists, workers may struggle to secure suitable accommodation when rents, transport costs and other household expenses consume a large share of their earnings.
For the mortgage and housing finance market, the NYCN position also points to the importance of creating financing options that reflect the realities of younger workers. Access to suitable housing finance can be difficult when income is low or unstable, limiting the ability of many potential buyers to transition from renting to homeownership.
Ibrahim said policies should not require young Nigerians to reduce their ambitions because of economic constraints. Instead, he argued that government and other stakeholders should work toward an economy in which young people can earn enough to pursue independent lives and meet basic needs.
The NYCN chairman commended Hamzat for connecting discussions about youth welfare with earnings, housing and broader economic conditions. He also reaffirmed the council’s willingness to work with the Lagos State Government and other stakeholders on measures aimed at improving economic opportunities and living conditions for young Nigerians.
The wider significance of the discussion lies in the relationship between employment, income and housing affordability. For Nigeria’s growing young population, sustainable access to decent housing will depend not only on increasing housing supply but also on creating economic conditions that give workers the purchasing power and financing capacity to afford it.
