Lagos residents are reeling under steep rent hikes, with some apartments recording increases of over 80% within a single year.
The spike comes amid a worsening housing shortage, as demand continues to outstrip supply. For many families, this means being trapped — struggling to meet new rent demands or forced to face the costly alternative of relocation.
In Mushin Olosha, Abosede S experienced this firsthand when her two-bedroom flat rent jumped by 87.5%, from ₦800,000 to ₦1.5 million per year.
Despite a modest 20% rise in her household income, the new rent stretched her budget to the limit. “I stayed because other apartments now charge similar amounts,” she told Nairametrics, adding that moving would mean extra costs — agency fees, legal agreements, and property repairs.
For many Lagosians, such relocation costs make staying put the only practical choice, even if it means financial strain.
Trapped Tenants, Tight Market
Across Lagos, tenants report that steep rent adjustments have cornered them.
In Ogba, Temidayo A, a real estate agent, said a two-bedroom flat that rented for ₦400,000 last year was re-listed for ₦800,000 after the tenant moved out.
“For new tenants, it might be negotiated down to ₦600,000,” he explained, “but similar units with even minor upgrades now go for ₦1.5 million to ₦2 million.”
Ademosu added that while some landlords used to wait three years before reviewing rent, inflation and rising maintenance costs have shortened that cycle. “In one case, a ₦7.5 million apartment hasn’t changed for two years — but such cases are rare,” he said.
In Ikorodu’s Olorijo Maya, Daniel K still pays ₦150,000 for his one-room apartment since 2023, but his neighbors’ rents have doubled to ₦300,000. Similarly, Samuel E in Igbogbo reported a 50% increase in his three-bedroom rent — from ₦700,000 to ₦1.05 million — after his landlord added plaster-of-Paris finishing.
Just outside Lagos, in Akute, Michael G saw his rent rise from ₦320,000 to ₦650,000 in two years — a 103% jump. “I’m not moving,” he said. “Other houses are either unavailable or too expensive.”
Rent Surge Spreads Beyond Lagos
The trend isn’t confined to Lagos. In Abuja’s Nyanya district, Opeyemi T said his one-room self-contained apartment rose from ₦400,000 to ₦750,000. “Even on the outskirts, you can’t find a similar place below ₦1.2 million now,” he noted.
In Port Harcourt, Temple U, Principal Partner at Blumeen Partners, raised rents on six three-bedroom flats in Rumuokoro from ₦500,000 to between ₦800,000 and ₦900,000. “After renovations, they could reach ₦2 million in two years,” he projected.
Ugwu also revealed that his own rent in Elelenwo climbed from ₦700,000 to ₦1 million. “It might reach ₦1.5 million soon,” he added, citing inflation and property maintenance costs.
What’s Driving the Surge
Analysts link the surge to deep structural imbalances — limited housing supply, growing urban migration, and rising construction costs.
According to The State of Lagos Housing Market Vol. 3 report, Lagos’ population rose from 21 million in 2016 to a projected 24 million by 2025, while formal rental households stagnated at 1.38 million.
Even though 750,000 new households formed during that period, the share of renters dropped from 83% to 77%, suggesting many have been priced out into informal settlements.
The report estimates that Lagos needs about 227,000 new homes each year to meet demand and replace ageing stock, but actual delivery remains far lower. Nationally, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, said Nigeria needs 550,000 housing units annually, at a cost of about ₦5.5 trillion per year for the next decade.
Weak Enforcement and Limited Relief
The Lagos State Tenancy Law of 2011 prohibits arbitrary rent increases and requires landlords to notify and consult tenants before reviewing rents. Tenants can also challenge unreasonable hikes in court under Section 37(1).
However, most tenants are unaware of these rights, and enforcement remains weak.
At the federal level, lawmakers have proposed capping rent hikes at 20% and increasing funding for affordable housing. The Lagos State House of Assembly has also called for stricter oversight and public awareness.
Still, with supply far behind demand and inflation eroding incomes, many tenants find little relief. Landlords continue to adjust rents to match market realities — leaving residents to bear the brunt of Nigeria’s deepening housing crisis.
source – Nairametrics
