More Nigerian workers are turning to their pension savings to raise equity contributions for residential homeownership as rising property costs and declining purchasing power make it increasingly difficult to buy homes.

Data from the National Pension Commission (PenCom), as reported by Financial Vanguard, showed that 28,437 pension contributors accessed their Retirement Savings Accounts (RSAs) for homeownership equity contributions in the first quarter of 2026.

The figure represents a 284.3 per cent increase from the 7,399 contributors who accessed their pension savings for the same purpose in the fourth quarter of 2025.

The amount withdrawn also increased sharply. A total of N92.7bn was accessed from the contributors’ RSAs for residential homeownership equity contributions in Q1 2026, compared with N28.27bn in Q4 2025.

That represents a 227.9 per cent increase in the value of pension savings accessed within one quarter.

The increase in both the number of contributors and the amount accessed highlights the growing role of pension savings in helping workers meet the upfront financial requirements for homeownership.

It also reflects the widening gap between household incomes and the cost of residential property, particularly as rents, construction costs and mortgage-related expenses continue to rise.

Nigeria’s housing deficit was estimated in the report at 14.9 million units, while experts put the funding requirement for bridging the gap at about N21tn.

Despite the existence of the National Housing Fund (NHF), which was established as a financing mechanism to improve access to housing finance, stakeholders continue to raise concerns about workers’ ability to access loans through the scheme.

How pension savings can support homeownership

Under the Contributory Pension Scheme (CPS), eligible Retirement Savings Account holders can access up to 25 per cent of their RSA balances as equity contributions for residential mortgage financing.

The provision applies to active RSA holders who have contributed to the CPS for at least 60 months and are seeking to purchase their first homes, in line with Section 89(2) of the Pension Reform Act 2014.

PenCom’s guidelines provide that where 25 per cent of a contributor’s RSA balance exceeds the required equity contribution, the contributor can only access the amount needed for the equity contribution.

Where the 25 per cent is insufficient, contributors may use voluntary contributions where applicable, while personal pension contributors may also access the contingency portion under the relevant guidelines.

Where the available pension resources remain insufficient to meet the required equity contribution, the RSA holder is expected to provide the balance to the mortgage lender.

The policy covers pension contributors who are actively employed, including salaried workers and eligible self-employed contributors.

Workers still struggle to access NHF loans

The growing reliance on pension savings comes amid concerns over the effectiveness of the National Housing Fund in providing affordable mortgage finance to workers.

President of the Nigeria Labour Congress, Joe Ajaero, said workers had continued to face difficulties accessing housing loans despite regular deductions from their salaries for the NHF.

Ajaero said the government had consistently deducted the mandatory 2.5 per cent contribution from workers’ salaries, but argued that the Federal Mortgage Bank of Nigeria had not adequately communicated information about the contributions made into workers’ NHF accounts.

According to him, the lack of information has frustrated workers who are unable to take full advantage of the scheme.

He also raised concerns about delays in processing housing loans.

Ajaero said the NHF Act provides for a 90-day period from loan application to disbursement, but claimed that delays in approving loans had forced some workers to abandon their applications.

He further alleged that some applicants had resorted to third-party agents to accelerate the process, sometimes at unofficial costs.

“Despite the increase in the total pool in NHF, workers were still unable to get loans to get shelter,” he said.

Experts back pension-backed homeownership

Urban planner and environmentalist Michael Simire said the difficult economic environment, including naira depreciation, had made homeownership increasingly difficult for many Nigerians.

He said the pension scheme was nevertheless creating an avenue through which some workers could raise the funds required to purchase homes.

Simire also pointed to the existence of vacant residential and commercial properties, arguing that affordability remained a major reason many Nigerians could not take up available housing.

Director of the Centre for Pension Rights Advocacy, Ivor Takor, described the inclusion of homeownership within the pension scheme as a positive development.

However, he said Nigerians who were outside the pension scheme should also have access to housing loans at moderate interest rates.

Takor called for additional measures such as subsidies, tax concessions and appropriate private, cooperative and public-sector housing initiatives to expand access to affordable homes.

High property costs weigh on housing demand

Principal Partner of M.I. Okoro and Associates, Meckson Innocent Okoro, said the difficult economic environment had contributed to weak demand for residential mortgages and real estate.

He said high exchange rates had pushed up the cost of inputs across the property sector, making homes increasingly unaffordable for average investors.

According to Okoro, the high cost of property also creates longer investment recovery periods.

He illustrated the pressure by comparing a property that previously cost N30m with one that could now cost N90m, arguing that an investment that might previously have been recovered within five years could now require a much longer period.

Okoro said the entry of pension savings into the housing market could help moderate property prices and increase homeownership if the scheme is effectively implemented.

Former President of the Pension Fund Operators Association of Nigeria (PenOp), Olumide Oyetan, also said the residential mortgage scheme could improve contributors’ welfare and have a positive impact on the wider economy.

He said successful implementation of the initiative would improve people’s welfare and contribute to economic progress.

Housing finance remains a major challenge

The sharp rise in pension-backed housing finance comes as Nigeria continues to face a significant gap between housing supply, property prices and household purchasing power.

While allowing eligible workers to use part of their retirement savings provides an additional source of equity for home purchases, stakeholders continue to point to the need for broader reforms in mortgage finance and housing delivery.

The figures show that pension savings are becoming an increasingly important source of housing finance for Nigerian workers.

However, the continued increase in the amount workers need to withdraw from retirement savings also highlights the financial pressure prospective homeowners face in raising the initial capital required to enter the housing market.

For workers outside the pension scheme, stakeholders say alternative financing mechanisms will also be required if homeownership is to become more accessible.

The combination of affordable mortgage financing, improved access to housing loans, lower construction costs and increased housing supply remains central to efforts to address Nigeria’s housing crisis.

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The Federal Government and state governments are set to review some of the structural challenges affecting housing delivery in Nigeria, with mortgage financing, land administration and institutional systems expected to take centre stage at the 15th Meeting of the National Council on Land, Housing and Urban Development.

The five-day meeting is scheduled to hold in Sokoto from October 12 to 16, 2026, bringing together federal and state housing authorities, regulators, housing corporations, built-environment professionals and other stakeholders.

The meeting is themed “Strengthening Mortgage, Land and Institutional Systems for Accelerated and Inclusive Housing Delivery.”

The council is expected to examine some of the persistent barriers limiting access to housing across the country and consider measures that can improve the systems supporting housing development.

The discussions are expected to cover access to land, housing finance, mortgage systems, land administration and urban development, with participants expected to share experiences and consider areas where stronger collaboration between the Federal Government and states is required.

Mortgage and land systems in focus

The meeting comes amid continued concerns over the affordability and accessibility of housing in Nigeria.

Stakeholders in the housing sector have increasingly highlighted the importance of improving access to land and long-term housing finance, particularly for households that are unable to meet the upfront costs associated with homeownership.

The council is therefore expected to examine how mortgage systems can be strengthened while addressing land administration challenges that affect the development and transfer of residential properties.

The Federal Ministry of Housing and Urban Development has previously identified effective land management and innovative financing among the areas requiring coordinated action between the Federal Government, states and other stakeholders.

At the 14th meeting of the council held in Ilorin in January 2026, stakeholders considered issues including effective land management and administration, urban renewal, local building materials, public-private partnerships and innovative financing and investment strategies for housing expansion.

States, housing agencies to participate

The Sokoto meeting is expected to bring together state commissioners and permanent secretaries responsible for lands, housing and urban development.

General managers and chief executive officers of state housing corporations, state surveyor-generals and representatives of regulatory agencies are also expected to participate.

The National Council on Land, Housing and Urban Development serves as a platform for the Federal Government and states to coordinate policy discussions around land administration, housing delivery and urban development.

The council also provides an avenue for stakeholders to review previous decisions, exchange experiences and consider policies that can be implemented at both federal and state levels.

At its 14th meeting in Ilorin, the council reviewed 98 memoranda submitted by stakeholders, with 62 considered suitable for deliberation. It also reviewed progress on decisions reached at the 13th council meeting held in Gombe in 2024.

Reforming systems beyond housing construction

The focus of the 15th meeting reflects a growing emphasis on the systems behind housing delivery rather than simply increasing the number of houses constructed.

Land availability, property registration, mortgage financing and institutional coordination can influence how quickly housing projects are developed and how easily prospective homeowners can access them.

Previous council deliberations have similarly highlighted land as a key requirement for housing development and homeownership, while identifying mortgage financing as an important component of housing affordability and accessibility.

The council is expected to use the Sokoto meeting to examine practical strategies for improving these systems and strengthening coordination between federal and state authorities.

Towards more coordinated housing delivery

The five-day meeting is expected to provide an opportunity for federal and state housing authorities to assess existing policies, identify implementation gaps and agree on areas requiring stronger cooperation.

Stakeholders will also be expected to consider measures that can improve access to affordable and inclusive housing while strengthening the institutional framework supporting land and housing development.

The outcome of the deliberations could provide further direction for federal and state housing policies, particularly in the areas of mortgage finance, land administration and urban development.

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The cost of renting a two-bedroom apartment on Lagos Island has risen to as much as ₦17.25 million annually, highlighting the growing pressure on tenants as housing costs continue to climb across Nigeria’s commercial capital.

The increase reflects a wider trend in Lagos, where strong demand, limited housing supply, rising construction costs and higher property management expenses continue to push rental prices upward. Market data from Nigeria Housing Market shows that premium areas on Lagos Island already command significantly higher rents than many Mainland locations.

Lagos Island remains one of the city’s most expensive residential markets because of its proximity to major commercial districts, employment centres, business hubs and high-value infrastructure. Areas such as Ikoyi and Victoria Island attract professionals, expatriates and corporate tenants willing to pay a premium for location and access.

The latest rent figure illustrates the widening gap between premium housing and what many households can realistically afford. As rents increase, tenants are increasingly forced to consider smaller apartments, less central locations or longer commuting distances.

Housing Supply Remains a Major Pressure Point

One of the major factors behind Lagos’ rental increases is the persistent mismatch between housing demand and available supply.

Lagos continues to attract people seeking employment and business opportunities, increasing pressure on existing housing stock. At the same time, new residential developments face high land, financing, construction and infrastructure costs.

These pressures ultimately feed into the price landlords charge tenants.

The situation is particularly pronounced in locations where demand remains consistently high and available properties are limited. According to Nigeria Housing Market’s broader rental analysis, rents have continued to rise across both Island and Mainland neighbourhoods as demand outpaces supply.

Construction Costs Add to Rental Pressure

The cost of developing and maintaining residential property has also become an important factor.

Developers and landlords face higher expenses for building materials, electricity, security, maintenance and facility management. In many Lagos estates, property owners also provide infrastructure and services that would ordinarily be supplied through public systems.

These additional costs can be reflected in both rent and service charges.

For tenants, the headline rent therefore doesn’t always represent the full cost of occupying a premium apartment. Service charges, power costs, security fees and other property-related expenses can substantially increase the annual housing bill.

Affordability Becomes the Bigger Question

The rise in Lagos Island rents raises a broader question about housing affordability in Nigeria.

A growing number of residents are being priced out of central locations and are increasingly looking towards areas farther from major employment centres. While these locations may offer lower rents, the savings can be offset by longer commuting times and higher transportation costs.

This creates a difficult trade-off for households: pay more to live closer to economic opportunities or pay less and absorb the cost of commuting.

The situation also strengthens the argument for greater investment in affordable housing, mass transportation and infrastructure outside the traditional premium districts.

The Market Is Becoming Increasingly Polarised

Lagos’ housing market is increasingly divided between premium properties serving high-income tenants and a much larger population competing for relatively affordable accommodation.

Two-bedroom apartments remain particularly important because they offer a practical option for small families and working professionals. Nigeria Housing Market has previously identified two-bedroom units as one of the strongest segments of the country’s urban rental market.

However, when rents for such units reach millions of naira annually in premium locations, the category becomes inaccessible to a large section of the population.

The challenge for policymakers and developers is therefore not simply to build more houses, but to increase the supply of homes that ordinary households can actually afford.

Without significant improvement in housing supply, infrastructure and access to affordable housing finance, rising rents are likely to remain one of the biggest pressures facing Lagos residents.

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Housing sector stakeholders have called on the Federal Government to declare a state of emergency on rising building costs, warning that escalating construction expenses are making homeownership increasingly unaffordable and slowing housing delivery across Nigeria. They argue that tackling the cost of building, rather than regulating rents, is the most sustainable way to address the country’s housing crisis.

Former President of the Real Estate Developers Association of Nigeria (REDAN), Dr. Aliyu Wamakko, said the sharp increase in the prices of cement, steel, roofing materials, electrical fittings, labour, transportation, and financing has significantly raised the cost of housing development. According to him, developers are finding it increasingly difficult to deliver affordable homes under current market conditions.

Wamakko explained that high rental prices are largely a consequence of expensive housing production rather than the root cause of the housing affordability challenge. He maintained that efforts to control rents without reducing construction costs could discourage investment in the real estate sector and worsen the housing shortage.

He urged the Federal Government to introduce targeted policies aimed at lowering construction costs, including support for local production of building materials, improved access to affordable housing finance, better transport infrastructure, stable energy supply, and incentives for large-scale housing development. He noted that reducing the cost of production would encourage developers to build more homes and improve housing affordability.

Industry stakeholders also emphasised the need for reforms in land administration, mortgage financing, and infrastructure development to stimulate private sector investment in housing. They argued that increasing housing supply through lower development costs would have a greater long-term impact on affordability than direct intervention in rental prices.

Experts believe that coordinated government action to reduce construction costs, strengthen housing finance, and encourage local manufacturing of building materials will be critical to closing Nigeria’s housing deficit, improving access to affordable homes, and supporting sustainable growth in the real estate sector.

The post Experts Call for Emergency Action as Rising Building Costs Deepen Housing Crisis appeared first on Housing TV Africa.

A former President of the Real Estate Developers Association of Nigeria (REDAN), Dr. Aliyu Wamakko, has urged the Federal Government to declare a state of emergency on rising building costs instead of focusing on rent regulation, arguing that the country’s housing affordability crisis is fundamentally driven by the high cost of housing production.

Speaking in Abuja, Wamakko said soaring prices of construction materials, land acquisition, labour, infrastructure, and financing have significantly increased the cost of developing residential properties, making it impossible for developers to offer affordable rental housing. He maintained that high rents are a consequence of expensive housing production rather than the primary cause of the housing crisis.

According to him, the prices of cement, steel reinforcement, roofing materials, electrical fittings, plumbing supplies, and other essential construction inputs have risen sharply in recent years, while labour and financing costs have also increased substantially. He noted that developers cannot recover their investments if rental prices are artificially suppressed without addressing these underlying production costs.

Wamakko called on the Federal Government to prioritise policies that reduce the cost of building materials, expand access to affordable long-term financing, strengthen local manufacturing, improve energy supply, lower transportation costs, and encourage large-scale housing development. He argued that such measures would increase housing supply and naturally reduce rental prices over time.

He warned that attempts to regulate rents without tackling the economic realities of housing development could discourage private investment in the real estate sector and worsen the country’s housing shortage. Instead, he advocated market-driven solutions supported by government policies that lower construction costs and stimulate investment in affordable housing.

Housing experts have consistently maintained that reducing construction costs, expanding mortgage financing, simplifying land administration, and increasing infrastructure investment are essential to improving housing affordability and addressing Nigeria’s estimated housing deficit. They believe that boosting housing supply remains the most sustainable strategy for easing pressure on rental prices while supporting long-term economic growth.

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Nigeria’s housing sector is facing fresh pressure as the cost of a 50-kilogram bag of cement continues to rise sharply, with prices reaching as high as ₦15,000 in some locations nationwide.

The increasing cost has triggered concerns from the Real Estate Developers Association of Nigeria (REDAN), which warns that the trend could slow housing development, delay projects and worsen Nigeria’s growing housing deficit.

Cement Prices Surge Above 30 Percent

Industry data indicates that cement prices have experienced a steep increase within a short period.

A bag of cement that sold for about ₦7,500 in late 2025 reportedly rose to between ₦9,000 and ₦10,000 in early 2026 before climbing further to between ₦11,500 and ₦15,000 depending on location and brand.

The latest increase represents a rise of more than 30 percent in just a few months, making cement one of the most volatile construction inputs in Nigeria.

Developers Face Rising Project Costs

For real estate developers already operating in a difficult business environment, the increasing cost of cement is creating additional pressure.

REDAN warned that because cement accounts for a substantial share of construction costs, rising prices directly affect project viability.

The association noted that some developers are already scaling back projects, delaying delivery timelines and reconsidering planned investments.

According to industry stakeholders, the situation is particularly difficult for low- and middle-income housing developments where affordability margins are already narrow.

Other Building Materials Also Recording Price Hikes

The cement crisis is occurring alongside increases in other construction materials.

Reports indicate that:

• Steel prices have risen by roughly 20 percent
• Sharp sand costs increased by about 25 percent
• Timber and other construction materials have also recorded sharp increases

These combined increases are significantly driving up the total cost of housing delivery.

Rent Prices Rising in Major Cities

The effect of rising construction costs is gradually spreading into Nigeria’s rental market.

In cities such as Lagos and Abuja, reports suggest annual rent for self-contained apartments has increased sharply.

Some units previously rented at about ₦400,000 annually now reportedly cost between ₦800,000 and ₦1.5 million.

This trend is increasing pressure on households already dealing with inflation and declining purchasing power.

Concerns Over Construction Quality

Industry experts have also raised concerns that rising material prices may encourage some developers to cut costs through the use of lower-quality materials.

Stakeholders warn that such practices could create safety risks, especially as Nigeria continues to record cases of building collapse.

They stress that maintaining construction standards remains critical despite current economic pressures.

REDAN Calls for Government Intervention

REDAN has urged the Federal Government and regulatory agencies to intervene through coordinated measures aimed at stabilising the building materials market.

The association recommended:

• Improved supply chain efficiency
• Support for local production of construction inputs
• Greater pricing transparency
• Stronger engagement with stakeholders across the value chain
• Increased investment in alternative building technologies

Industry leaders warn that without urgent intervention, Nigeria’s affordable housing goals may become increasingly difficult to achieve.

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The Nathaniel Atebije Foundation for Planning Advocacy (NAFPA) has called for urgent national attention to the growing crisis in urban and regional planning across Nigeria, warning that continued neglect could undermine sustainability, safety, and human dignity.

The foundation’s founder, Nathaniel Atebije, made the call during a news conference ahead of its maiden annual lecture held on Tuesday in Abuja.

‘Planning Is Not a Luxury’

Atebije stressed that urban and physical planning is essential for sustainable growth, cautioning that its neglect has already led to disorder in many Nigerian cities.

“When planning is ignored, cities become disordered, unsafe, inefficient and unjust. Unfortunately, this trajectory is the experience across many parts of Nigeria today,” he said.

Key Challenges Identified

He listed major challenges affecting urban development, including weak enforcement of planning regulations, widespread land-use violations, and the marginalisation of indigenous planning professionals.

Other concerns include the destruction of green areas in Abuja and inadequate infrastructure across urban centres.

According to him, many settlements continue to expand without approved layouts, resulting in chaotic growth patterns that are costly and difficult to correct.

He added that even in cities with master plans, implementation remains weak due to poor funding, limited manpower, and lack of political will.

Rising Threat to Abuja Master Plan

Atebije warned of increasing development on restricted lands such as floodplains and designated green areas, often driven by profit motives and political interference.

He noted that this trend is gradually eroding the Abuja Master Plan, which was originally designed to balance development with environmental sustainability.

“The destruction of designated green spaces in the capital city is particularly alarming, raising serious concerns about environmental sustainability and urban livability,” he said.

Implications for Urban Living

He said the consequences of poor planning are already visible, including declining living standards, rising environmental risks, housing shortages, and reduced economic productivity.

Call for Immediate Reforms

The foundation called for decisive action from government and stakeholders, including strict enforcement of planning laws and restoration of violated green areas.

Atebije urged authorities to prioritise planning as a prerequisite for development and to make physical development plans legally binding.

He also recommended strengthening development control through recruitment and training of qualified personnel, alongside adequate funding for enforcement agencies.

“Planning authorities must be protected from political interference, with enforcement of sanctions against violations,” he said.

Push for Institutional Strengthening

The foundation further called for better coordination among planning institutions and the promotion of indigenous professionals in line with existing policy frameworks.

It also advocated the establishment of a National Urban and Regional Planning Commission and the Office of the Town Planner General of the Federation to improve oversight and ensure compliance with planning standards.

Outlook

Atebije emphasised that Nigeria stands at a critical point in its urban development journey, warning that failure to act could deepen existing challenges.

He called on government, private developers, and stakeholders to collaborate in restoring order, sustainability, and dignity in the country’s built environment.

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The National Union of Tenants of Nigeria (NUTN) has raised alarm over the worsening housing situation in Rivers State, warning that more than 80 per cent of residents in Port Harcourt and Obio/Akpor now spend all their income on rent.

In a letter to Governor Siminalayi Fubara, the union’s Executive Secretary, Ceaser Enwefah, described the situation as a deepening crisis with severe social and economic consequences for residents.

He said the rising cost of accommodation has pushed many households into extreme hardship, leaving them unable to afford basic necessities.

“Rental costs now account for significant portion of the high cost of living in the capital city, pushing many residents into extreme hardship,” he stated.

Soaring rent across housing categories

Enwefah noted that rent levels have reached unprecedented heights across all housing types in the state capital and surrounding areas.

According to him:

• Self-contained apartments now cost about ₦800,000 annually
• One-bedroom flats go for around ₦1.5 million
• Two-bedroom apartments range between ₦2 million and ₦2.5 million
• Three-bedroom flats cost between ₦3 million and ₦4 million

He warned that prices could rise further by December 2026, making housing even more unaffordable for average earners.

Rising displacement and social pressure

The union also warned that many residents are already leaving Port Harcourt due to rising living costs.

“A significant part of the population is fleeing the capital city to escape the high cost of accommodation and harsh economic impact of rising rents,” Enwefah said.

He added that if left unchecked, the situation could escalate into homelessness, slum expansion, and social instability by 2030.

Causes of the housing pressure

A fact-finding study by the union attributed the crisis to multiple factors, including:

• Housing deficit in the state
• Demolition linked to infrastructure projects such as the Port Harcourt Ring Road
• Activities of unregulated estate agents
• Conversion of residential buildings to commercial use
• Urban planning violations reducing available housing stock

The study showed sharp rent increases between 2023 and 2025, with single rooms rising from ₦60,000 in 2022 to ₦180,000 in 2026, and self-contained apartments jumping from ₦150,000 to ₦800,000.

Calls for urgent government action

The union urged the state government to declare the housing sector a priority area and introduce urgent regulatory reforms.

Recommendations include:

• Regulation of estate agents
• Enforcement against illegal property conversion
• Creation of a housing data system to track rent trends
• Increased land allocation for low-income housing
• Construction of student hostels to reduce pressure on the rental market

Enwefah stressed that coordinated intervention is needed to stabilise the housing market and prevent further economic strain on residents.

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Nigeria’s newly appointed Minister of Housing and Urban Development, Muttaqha Darma, has pledged to tackle the country’s housing deficit through collaboration, strategic planning, and improved affordability.

Speaking during his official handover in Abuja, Darma said his administration would adopt a results-driven approach that prioritises partnerships across the housing value chain.

He stressed that solving Nigeria’s housing challenges requires cooperation beyond government, involving private sector players and other key stakeholders.

According to the minister, measurable performance indicators will guide his administration, adding that he is ready to be held accountable if targets are not met.

Housing Deficit Still a Major Challenge

Darma acknowledged the scale of Nigeria’s housing gap, noting that estimates range between 14 million and 20 million units.

He explained that bridging this deficit will require clear direction, proper planning, and sustained engagement with industry players.

The minister emphasised that without a structured and strategic approach, meaningful progress would remain difficult.

Affordability Concerns Take Centre Stage

Beyond supply, Darma highlighted the growing affordability crisis in Nigeria’s housing sector.

He pointed out that the cost of housing, especially in cities like Abuja, has priced out middle-income earners.

“One-bedroom apartments selling for ₦25 million to ₦30 million are clearly beyond the reach of many Nigerians,” he noted.

He assured that his administration would work towards making housing accessible across different income levels nationwide.

Funding and Implementation Hurdles

Also speaking at the event, Minister of State for Housing, Yusuf Ata, said ongoing housing projects have created over 300,000 jobs across Nigeria.

However, he identified funding delays and inadequate budget releases as major constraints affecting project delivery.

Despite these challenges, Ata expressed confidence that the ministry is positioned to build on existing reforms and expand affordable housing initiatives.

Focus on Partnerships and Economic Impact

The ministry reaffirmed its commitment to Public-Private Partnerships (PPPs) as a key strategy for scaling housing delivery.

Officials noted that collaboration with investors and developers remains essential to increasing supply, improving infrastructure, and driving economic growth.

Darma reiterated that his leadership would focus on delivering practical results, ensuring that housing policies translate into real homes for Nigerians.

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Nigeria’s housing sector is under mounting pressure as a deepening rent crisis continues to displace tenants across major cities, raising concerns over affordability, weak regulation, and a growing housing deficit.

From Lagos to Abuja, Port Harcourt to Kano, tenants are grappling with steep and often arbitrary rent increases, forcing many families to relocate, downgrade their living conditions, or abandon urban centres altogether.

Rising Rents, Shrinking Options

Across urban Nigeria, rental prices have surged significantly over the past year, driven by inflation, high construction costs, and increasing demand for limited housing stock.

For many households, income levels have failed to keep pace with rising accommodation costs, leaving tenants with fewer options and increasing vulnerability to displacement.

In some cases, landlords have raised rents by as much as 50 to 100 per cent without corresponding improvements in housing quality or services.

Tenants Bear the Brunt

The impact of the crisis is most severe among low- and middle-income earners, who now spend a disproportionate share of their income on rent.

Many tenants report being given short notice to either meet new rental terms or vacate their homes, a situation that has triggered a wave of forced relocations and overcrowding in more affordable areas.

The lack of effective rent control mechanisms has further worsened the situation, leaving tenants with limited legal protection.

Housing Deficit Worsens Crisis

Nigeria’s estimated housing deficit—often placed in the millions of units—continues to widen, compounding the pressure on existing housing supply.

Experts note that the country requires hundreds of thousands of new housing units annually to bridge the gap, yet current delivery rates remain far below demand.

This imbalance has created a landlord-driven market where pricing power heavily favours property owners.

Economic Pressures Driving Surge

Analysts attribute the rent surge to a combination of macroeconomic factors, including inflation, rising building material costs, and currency fluctuations affecting imported construction inputs.

In addition, increased urban migration has intensified demand in major cities, further straining already limited housing infrastructure.

Calls for Urgent Government Intervention

Stakeholders in the housing sector are calling on government authorities to implement urgent reforms aimed at protecting tenants and stabilising the rental market.

Proposed measures include:

• Strengthening rent regulation policies
• Expanding access to affordable housing schemes
• Encouraging private sector participation through incentives
• Promoting alternative housing finance models

Experts warn that without decisive intervention, the crisis could escalate into a broader social and economic challenge.

A Growing Social Concern

Beyond economics, the rent crisis is fast becoming a social issue, affecting family stability, productivity, and overall quality of life.

As more Nigerians struggle to secure affordable housing, concerns are growing about the long-term implications for urban development and social cohesion.

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