From Our Housing Stand (150)
Nigeria’s housing sector is in a state of emergency, yet the government pretends it’s business as usual. Millions of citizens—working-class professionals, traders, and even civil servants—are trapped in a vicious cycle of rent slavery because homeownership is a distant dream.
Despite numerous promises and housing policies, the reality remains the same: real estate is controlled by a privileged few, and ordinary Nigerians are left at the mercy of ruthless landlords and skyrocketing rents. If the government does not act swiftly, the dream of affordable housing will remain just that—a dream.
The Cost of Shelter Shouldn’t Be a Death Sentence
In cities like Lagos, Abuja, and Port Harcourt, rent inflation is outrageous. A decent two-bedroom apartment that cost ₦500,000 a few years ago now goes for over ₦1.5 million—triple the price, yet salaries remain stagnant. Meanwhile, banks and mortgage institutions make homeownership nearly impossible with exorbitant interest rates and unrealistic repayment plans.
What’s worse, millions of housing units lie empty, hoarded by speculators who see homes as investment assets rather than basic human needs. Yet, slums keep expanding, and homelessness is rising. How does this make sense in a country with over 20 million housing deficits?
Government’s Empty Promises Won’t Build Homes
Every administration comes with big speeches on affordable housing, but where are the results? The so-called “low-cost housing” estates are either non-existent, abandoned, or priced far beyond the reach of those who need them most. Meanwhile, land allocation remains a game of political patronage, where prime areas are handed over to the elite, while the masses are pushed to the fringes.
The government must wake up and take decisive action:
Control Rent Inflation: Introduce policies to regulate rent hikes and make housing accessible.
Reform the Mortgage System: Reduce interest rates and restructure payment plans to fit average earnings.
Unlock Idle Homes: Enforce taxation on vacant properties to discourage hoarding.
Expand Low-Cost Housing Projects: Invest in mass housing schemes that are truly affordable.
Time to Reclaim the Right to Shelter
Housing is not a privilege; it’s a right. If Nigeria is serious about development, then ensuring that its citizens have a roof over their heads should be a top priority—not an afterthought.
The people cannot continue to suffer while a select few grow wealthier from their misery. It’s time for real reforms, not empty policies. Otherwise, Nigeria will remain a nation of tenants in its own land.
