By: Tijani Salako.

The Principal Partner of Ubosi Eleh & Company, Mr Chudi Ubosi, has called for increased investment in infrastructure and public services, including rail and water transportation, to ease pressure on Nigeria’s urban centres.

He also advocated reforms to the Land Use Act to improve access to land and reduce transaction costs such as consent fees and planning approvals.

Ubosi made the call during a webinar titled “The Rent Crisis: Understanding Nigeria’s Housing Challenge and the Way Forward,” where stakeholders examined rising housing costs and explored sustainable solutions.

He warned that Nigeria’s rent crisis could worsen without urgent and strategic intervention, citing population growth, rapid urban migration, and limited housing supply as key drivers of the housing deficit.

Describing recent rent increases in cities such as Lagos, Abuja and Ibadan as unprecedented, Ubosi said prices had surged by between 50 and 200 per cent in the past year. He stressed the need for stronger collaboration between government and the private sector to expand housing supply and improve affordability.

According to him, some landlords are issuing eviction notices to long-term tenants in favour of new occupants willing to pay higher rents, reflecting efforts to maximise returns amid economic pressures.

Ubosi noted that fewer than 25 per cent of Nigerians own homes, leaving the majority dependent on rental housing and vulnerable to price fluctuations.

He added that the country’s population estimated at over 200 million, with a large youth demographic is intensifying housing demand as more young people seek independent living.

Nigeria’s housing deficit, estimated at between 15 and 28 million units, is further worsened by the prevalence of substandard housing lacking basic amenities such as sanitation and ventilation, forcing many into overcrowded conditions.

While noting that housing markets are typically slow to respond to policy changes, Ubosi emphasised that urgent, sustained reforms are critical to addressing the crisis.