Rising house rents in cities like lagos and across Nigeria
After Bola Ahmed Tinubu increased the price of fuel there has been a sharp increase in house rents,most increased more than 100 percent The fault according to landlords are rising inavaibility of houses and the cost of materials needed to build homes Houses in lagos have received a almost 100 percent increase Mini flats now go for between 1.2 to 2m per year depending on area Two bedroom bungalow are now as high as 3m to 5m per year And duplexes or flats accommodating three bedroom now go for almost 4-15m depending on location With houses on the island sold for premium prices There is little regulation in Nigeria on how houses should be rented And the cost of building a home as increased into multi millions because as soon as the fuel increased there was a drastic rise in cost of building and materials The government needs to look into this and seek sustainable means to tackle this rising problem of high rent cost and building costs