The House of Representatives has called on the federal government to work with states to regulate house rent across the country and cap annual rent increases at 20 percent.
The House of Representatives has urged the federal government to collaborate with state governments to regulate rent increases and introduce a nationwide cap of 20 percent. The resolution followed a motion by Bassey Akiba from Cross River State during Thursday’s plenary.
Akiba said Nigeria’s harsh economic climate is deepening hardship for tenants, with landlords exploiting infrastructure improvements to raise rent. He noted that in parts of the FCT, rent surged from N800,000 to N2.5 million after new roads were built.
According to him, “wanton exploitation” by property owners defeats the government’s goal of improving citizens’ welfare and pushes some into criminal acts to meet inflated demands.
The House urged the Ministry of Housing and Urban Development to enforce rent control measures and expand affordable housing projects. It also mandated its Committee on Housing and Habitat to ensure compliance and report back within four weeks.