The House of Representatives has addressed the hike in house rent prices in recent times, seeking to ensure a reduction across board by urging the federal government to collaborate with state authorities to regulate and reduce rent charges across the country.
The resolution was adopted during Thursday’s plenary following a motion moved by Bassey Akiba, a lawmaker from Cross River State, who said the current economic hardship is worsening the plight of tenants.
Akiba noted that rent prices often soar in areas where new public infrastructure such as roads or markets are developed. He cited examples in the Federal Capital Territory (FCT), where rents reportedly jumped from N800,000 to as high as N2.5 million annually after road construction projects.
The lawmaker described the trend as “wanton exploitation” by property owners, warning that it undermines government welfare initiatives and forces citizens into deeper hardship.
Following the motion, the House called for increased investment in affordable housing projects and directed the Ministry of Housing and Urban Development to work with state governments to enforce rent control measures. The lawmakers proposed capping rent increases at no more than 20 percent of existing rates, regardless of infrastructure upgrades or other factors.
The Committee on Housing and Habitat was mandated to ensure compliance and report back within four weeks for further legislative action.
