By Moyinoluwa Ojegbade
LAGOS – Rising house rents across Lagos State continue to place significant financial pressure on residents, with many tenants expressing concern over frequent rent increases amid the country’s challenging economic conditions.
Several students living in different parts of Lagos told Trust Africa News that the rising cost of accommodation has become a growing burden on their families, with many fearing further increases from landlords.
Grace Adekunle, a student residing along Ogba Road, said her family currently pays ₦300,000 annually for their rented apartment. Although her parents shoulder the financial responsibility, she noted that the increasing cost of rent affects the entire household.
According to her, accommodation in Lagos has become increasingly expensive, leaving tenants with limited options.
“I don’t have much of a choice because this is where we live, and the rent is still relatively cheaper than many other places. However, our landlord has already hinted that the rent may be increased soon,” she said.
Adekunle described the process of securing and maintaining rented accommodation in Lagos as stressful, noting that many residents struggle to meet annual rent obligations.
Another student, Okunola Janet Eniola, who lives in the Ogba area of Lagos, said her family currently pays ₦250,000 annually for a self-contained apartment.
She disclosed that about a month ago, her landlord informed tenants of an impending rent increase, a development she said has caused anxiety for her family.
“My parents are doing their best. I am not their only child, and they have several other financial responsibilities. They always make sure the rent is paid on time so that we won’t face eviction,” she said.
Similarly, Faith Akinbola, a student living in the Iju-Ira/Ogba area, said she initially paid ₦140,000 annually when she moved into her self-contained apartment.
According to her, the rent will increase to ₦160,000 upon renewal. Despite the increase, she believes the new amount remains relatively affordable compared to prevailing rental prices in many parts of Lagos.
She added that she is uncertain whether her landlady intends to introduce another rent increase in the near future.
The experiences shared by the students reflect the growing challenges faced by many Lagos residents as housing costs continue to rise, forcing families to adjust their budgets to cope with the increasing cost of accommodation.Copyright TRUSTAFRICA NEWS.
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