Post
Topic
Board Nigeria (Naija)
Re: House rents frustrating while solutions are ignored
by
Munir001
on 05/12/2023, 14:37:42 UTC
Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

This is not the solution to this kind of challenges, firstly i don't think house rent is that unaffordable in Nigeria to that extent except you don't go for your size, this also depends on the kind of location or city you are, even in advance countries, there's no uniformity in house rent pay rate, the only exception are the ones under the government schemes, but each individual has the right to place any amount he feels comfortable with for his rent charges, the landlords built their houses themselves and not the government, so they can make demands on any rate they feel satisfied with.
House rent in Nigeria is one of the cheapest in the world if compared especially to the western world. The amount mentioned at 130k is less than 200 dollars for a room in a year, Imagine. The cost of building the same house is high and owners are not likely to breakeven on the investement in 30 years, so my conclusion is the purchasing capacity of Nigerians in low. Let everyone including students have abillity to work even just 5 hours daily and earn 50k in a month, it wont be difficult to pay the 130k at the end of the year.

When you compare house rent in Nigeria with other countries, you also have to compare the difference in minimum wage. The minimum wage in Canada is around $16/hr. In UK around $10/hr. Meanwhile here in Nigeria minimum wage is 30k in naira for a whole month. So our monthly minimum wage is just about 2 hrs wage in Canada.