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

Ubosi also advocated reforms to the Land Use Act to improve access to land and reduce the high cost of land transactions, including consent fees and planning approvals.

He made the recommendations during a webinar titled “The Rent Crisis: Understanding Nigeria’s Housing Challenge and the Way Forward”, which brought together participants from across the country to examine the causes of rising housing costs and explore sustainable solutions.

Ubosi warned that without urgent and strategic intervention, Nigeria’s rent crisis is likely to worsen in the coming years. He identified population growth, rapid urban migration and limited housing supply as key drivers of the escalating housing deficit.

He described recent rent increases in major cities such as Lagos, Abuja and Ibadan as unprecedented, noting that rental prices had risen by between 50 and 200 per cent within the past year. He called for stronger collaboration among the government, the private sector and policymakers to develop long-term solutions aimed at expanding housing supply, improving affordability and ensuring the sustainability of the real estate sector.

According to him, some landlords are increasingly issuing eviction notices to long-term tenants to accommodate new occupants willing to pay higher rents, a trend driven by economic pressures and the need to maximise returns on investment.

Ubosi noted that less than 25 per cent of Nigerians own their homes, meaning the majority of the population relies on rental accommodation and is therefore exposed to fluctuations in rent prices.

He added that Nigeria’s rapidly growing population, estimated at over 200 million, with a large youth demographic, is intensifying demand for housing. As more young people reach adulthood and seek independent living, pressure on existing housing stock continues to increase.

Ubosi further explained that Nigeria’s housing deficit, estimated at between 15 and 28 million units, is compounded by the large proportion of existing housing that is considered substandard, lacking basic amenities such as proper sanitation and ventilation. As a result, many Nigerians are forced to live in overcrowded and inadequate conditions.

He emphasised that housing markets are generally inelastic, meaning that policy changes and interventions take time to reflect in outcomes. However, he stressed that urgent action is still required, adding that meaningful improvement must begin with deliberate and sustained reforms.