Economy
Why President Tinubu Must Address Rising Cost Of Rent, Properties In Nigeria
Why President Tinubu Must Address Rising Cost Of Rent, Properties In Nigeria
Why President Tinubu must address rising cost of rent, properties in Nigeria. With the highest respect for your person and office, and in recognition of your commitment to building a fair and prosperous Nigeria, I write as a concerned professional citizen to express my deep concern over the persistent and unregulated rise in the cost of rent and property sales across our country.
Every day, millions of hardworking Nigerians — civil servants, traders, artisans, young graduates, and families — struggle to secure or maintain decent shelter. The dream of home ownership has become increasingly distant, while many tenants face sudden rent hikes that far exceed their means. This situation has placed countless households under emotional and financial strain.
This is not merely an economic challenge; it is a humanitarian one. Shelter is a fundamental necessity of life and a key measure of social welfare. When people cannot afford a roof over their heads, it erodes family stability, productivity, and hope — the very fabric of our nation.
While the relative stability of the foreign exchange market under your administration has helped to steady the cost of building materials, the continuous increase in rent and property prices suggests that deeper issues are at play.
It has become necessary for the government to investigate the true causes of these persistent hikes — whether they stem from speculative pricing, market manipulation, weak regulatory enforcement, or limited housing supply — and to take decisive action to address them.
Lagos: A Stark Example of the Housing Crisis
Your Excellency, nowhere is this crisis more visible than in Lagos, our nation’s economic capital and commercial nerve centre.
In just a few years, rent in several parts of Lagos has risen by over 400 percent. A three-bedroom apartment that once cost N2.5 million now goes for between N8 million and N12 million, while serviced apartments in high-demand areas such as Ikoyi, Victoria Island, and Lekki have jumped from N6 million to as high as N30–N35 million per annum.
Even middle-income neighbourhoods like Yaba, Surulere, and Gbagada have not been spared, where modest two-bedroom flats that once rented for N600,000 now exceed N2 million.
This unprecedented increase is forcing residents to relocate farther from their workplaces, pushing workers into lengthy commutes and overburdening public infrastructure. It is also widening inequality — creating a city that caters to the wealthy but squeezes out the middle and working class.
If Lagos — the model city of commerce and progress — is becoming unaffordable to the people who drive its economy, then it is a warning sign for the rest of the country.
The Broader Impact
Beyond the hardship faced by individuals and families, this situation is also having serious economic consequences. Many small and medium-sized businesses can no longer afford the unreasonable rent increases on commercial spaces.
As a result, numerous shops, offices, and workshops are closing down — leading to loss of livelihoods, increased unemployment, and reduced productivity. This knock-on effect is shrinking the middle class, discouraging entrepreneurship, and slowing down local economic growth.
If left unchecked, the housing and rent crisis could undermine your administration’s efforts to create jobs, stabilise prices, and promote inclusive economic recovery.
Recommendations for Urgent Action
In light of this, I humbly appeal that your administration kindly consider the following measures:
Why President Tinubu Must Address Rising Cost Of Rent
Initiate a National Housing and Rent Control Framework — in collaboration with state governments, to ensure fair and stable rent practices across urban centres.
Strengthen the Federal Ministry of Housing and Urban Development to effectively regulate property development and pricing nationwide.
Expand affordable housing schemes for low- and middle-income earners through public-private partnerships and cooperative models.
Support mortgage reforms to make home loans more accessible, especially to civil servants and young Nigerians.
Introduce tax incentives for landlords and developers who provide affordable housing options.
Investigate the root causes of high rent and property prices and establish transparent guidelines that protect both landlords and tenants from exploitation.
Encourage state governments to implement rent regulation mechanisms tailored to their local realities.
Support small and medium-sized businesses through rent relief or subsidy schemes where unreasonable rent hikes threaten employment and stability.
A Call for Compassionate Leadership
Your Excellency, I write this letter in the spirit of faith and hope — faith in your Renewed Hope Agenda, and hope that every Nigerian will one day have the dignity of living and working in a stable and affordable environment.
A nation’s greatness is not measured by the wealth of a few, but by the well-being and productivity of the many. Lagos stands as both a warning and an opportunity — to reform the housing system, restore affordability, and rekindle the belief that Nigeria can truly work for everyone.
May Almighty God grant you continued wisdom, health, and strength as you lead our country through these transformative times.
With my highest regard and sincere respect.
Anirejuoritse Ojuyah is an urban policy analyst
Brazil Fines TikTok $30m Over Failure to Implement Child Safety
Brazil’s data protection agency on Tuesday fined TikTok nearly $30 million for failing to implement child safety measures in what it said was a “powerful signal” to social media companies.
Eereporter.com
Brazil has taken a tough stance on the regulation of social media platforms, cracking down on disinformation and requiring users under 16 years to have their accounts linked to those of their parents.
An enforcement director with the ANPD data protection agency, Fabricio Lopes, told a press conference that TikTok “was not taking the necessary measures to prevent adolescents from accessing the platform and from having the data of these children and adolescents processed.”
This data was “being used to offer advertising to adolescents.”
He said the fine of 153.7m reais ($29.9 million) was a “powerful signal to other platforms regarding how seriously the ANPD takes this work” and that the agency hoped they “get the message.”
TikTok agreed last week to pay $400m to settle a lawsuit with the US Department of Justice over claims that the video-sharing platform collected children’s personal data without parental permission.
– Tougher enforcement –
This month, the ANPD also ordered popular streaming platform Discord to suspend livestreams and video calls after a teenage girl was allegedly encouraged to take her own life during a broadcast.
The agency told AFP that an appeal filed by Discord on Monday against the suspension is under review.
ANPD director Lorena Coutinho said the agency had, last week, initiated proceedings to verify the compliance of 22 social media networks and platforms with a law passed this year to protect children and teens online.
In addition to the fine, the ANPD ordered TikTok parent company ByteDance to delete data collected in violation of regulations.
Coutinho said TikTok had committed to suspend all adverts for users who are not logged in.
TikTok has committed to “implementing a compliance plan to improve the protection of children and adolescents,” the ANPD said.
Brazil Fines TikTok
The platform will be required to automatically apply stricter privacy settings to accounts belonging to children under the age of 16, strengthen parental supervision systems, and implement stricter content filters.
TikTok did not immediately respond to requests for comment from AFP.
In 2024, the platform X was blocked for 40 days in Brazil, until the social media network owned by the world’s richest person, Elon Musk, complied with the Supreme Court’s orders to remove accounts spreading disinformation.
Eereporter.com
Economy
Umahi Leads the Way as Tinubu Orders Immediate Action on Benin-Agbor-Asaba Road Intervention
Umahi Leads the Way as Tinubu Orders Immediate Action on Benin-Agbor-Asaba Road Intervention
The Minister of Works, Senator Engr. David Umahi, CON, has moved swiftly to address the worsening condition of the Ifaki-Kabba-Ado Ekiti road in Ekiti and Kogi States, and Benin-Agbor-Asaba Roads following President Bola Ahmed Tinubu’s directive for urgent intervention to ease the hardship being faced by motorists and commuters.
Eereporter.com
Umahi, who expressed deep concern over the deplorable condition of the road and the suffering of road users who have spent hours and, in some cases, days on the route, said the Federal Government was determined to take immediate corrective measures while working towards permanent solutions.
“President Tinubu, GCFR, has directed the Federal Ministry of Works to urgently intervene and ensure that necessary corrective actions are taken to restore movement on the affected roads as quickly as possible.” Said Umahi
The Minister, in response to the directive, has already set machinery in motion for immediate action.
As part of the intervention, Umahi directed the Minister of State for Works to lead a team of ministry officials to the Ifaki-Kabba-Ado Ekiti axis to assess the situation and commence urgent remedial works.
The assignment is already on as of 10 a.m. on Tuesday, August 25, 2026, with officials of the Ministry on the ground to begin the intervention.
While the intervention team moved into Ekiti and Kogi States, Umahi himself headed to Benin, Edo State, alongside members of the National Assembly Works Committees, to initiate a similar coordinated intervention on the Benin-Agbor-Asaba road.
The Benin meeting is expected to bring together key stakeholders, including representatives of the Edo and Delta State Governments and the Niger Delta Development Commission (NDDC), with the aim of finding immediate solutions to the challenges confronting motorists on the strategic corridor.
Umahi also took responsibility for the unfortunate situation on the affected roads and apologised to commuters who have been stranded or delayed for several hours and days.
Benin-Agbor-Asaba
He assured road users that the Federal Government’s response would go beyond temporary relief, with immediate measures being pursued alongside permanent solutions to restore the affected roads and improve their long-term reliability.
Francis Nwaze
Senior Special Assistant to the Honourable Minister of Works (Media)
August 25, 2026
Eereporter.com
Economy
NNPC Cares: Boost for Nationwide Medical Access as NMSL Deploys Laparoscopic Instrument in Abuja
NNPC Cares: Boost for Nationwide Medical Access as NMSL Deploys Laparoscopic Instrument in Abuja
NNPC Medical Services Limited (NMSL) has deployed articulating laparoscopic instruments at its main hospital in Utako, Abuja. The machine is an advanced surgical equipment designed to enhance precision and flexibility during laparoscopic procedures.
Eereporter.com
The latest deployment widens the range of procedures available at the medical facility and represents a boost for healthcare access in the country.
NNPC
Acting Managing Director / Chief Operating Officer, NMSL, Dr. Dickson Bada, received the equipment from SQI Limited, represented by Dr. Emmanuel Otitoloju.
NNPC Limited continues to invest in its medical facilities, which are open to the public nationwide, towards improving healthcare delivery in Nigeria.
Eereporter.com
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