In a bold move to curb the spiraling cost of housing in Nigeria’s economy, the Lagos State Government has issued a stern warning to landlords and property agents engaging in predatory rent hikes.
The announcement, made by Barakat Bakare, Special Adviser to the Lagos State Real Estate Regulatory Authority (LASRERA), signals a renewed commitment to protecting tenants from exploitative practices that have increasingly burdened residents in one of Africa’s most populous cities.
During a live interview on TVC’s popular program Your View on Saturday, Bakare minced no words, declaring that the state government “will no longer stand idly by” as landlords and agents exploit Lagosians through unjustifiable rent increases.
The statement comes amid growing public outcry over skyrocketing rental costs, which have outpaced inflation and placed significant financial strain on low- and middle-income households.
Bakare’s remarks underscore the government’s proactive approach to tackling the housing crisis. Central to this effort is a comprehensive review of the Lagos State tenancy law, which is currently underway.
The revised legislation aims to address critical gaps in the existing framework, including provisions for caution fees—security deposits often demanded by landlords but poorly regulated. These fees, which can amount to significant sums, have been a source of contention, with tenants frequently reporting unfair deductions or outright refusal of refunds.
The review will introduce measures to ensure fairness and transparency in rental transactions, Bakare explained. She urged residents to report violations, such as exorbitant rent hikes or unauthorized fees, to LASRERA through its physical offices or online platforms. This call to action reflects the government’s intent to empower tenants and hold errant landlords accountable.
The Special Adviser reiterated Governor Babajide Sanwo-Olu’s commitment to addressing Lagos’ housing challenges, which include not only high rents but also a chronic shortage of affordable units.
According to recent estimates, Lagos faces a housing deficit of over 3 million units, a gap that has fueled fierce competition for available properties and driven up costs.
To tackle these issues, the government is engaging with landlords, property associations, and developers to foster collaboration and curb excessive pricing. Bakare highlighted ongoing dialogues aimed at creating a balanced market where affordability and profitability coexist. “The governor is determined to ensure that Lagosians can live in dignity without being priced out of their homes,” she said.
In addition to regulating the private rental market, the Lagos State Government is prioritizing equity in the allocation of state-owned housing. Bakare assured residents that the distribution process follows “fair, transparent, and well-laid-out criteria,” designed to prevent favoritism and ensure access for deserving applicants.
This commitment is particularly significant in a city where access to government housing is often marred by allegations of bias and corruption
Bakare appealed to Lagosians to exercise due diligence in their housing transactions. “Verify before you commit,” she advised, emphasizing the importance of confirming the legitimacy of agents and developers through LASRERA’s registry.
This proactive stance is intended to protect consumers from fraud and exploitation, particularly in a market known for its complexity and occasional opacity.
WHAT YOU SHOULD KNOW
The Lagos State Government’s crackdown on exploitative rent practices marks a pivotal moment in the city’s ongoing struggle to balance growth with affordability.
With the tenancy law review in progress and LASRERA stepping up enforcement, tenants may soon see relief from the financial pressures that have defined the rental market.
For now, Lagosians are watching closely, hopeful that the government’s promises will translate into tangible protections. As the city continues to grapple with rapid urbanization and population growth, the outcome of this initiative could set a precedent for housing reform across Nigeria and beyond.
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