2022 March

The daily influx of people from various parts of Nigeria and beyond has widen the housing deficit in Lagos, piling up pressure on existing infrastructure and worsening stress in the city, stakeholders have said. Over 600 people move to Lagos every day and less than 50 percent of them go back, a government official said.

Industry watchers say rent in the South-South has risen across the region- at its fastest clip in decades, following an increase in the inflation rate that impacts building materials and construction cost. Cost of rent rose by more than 50 per cent on rehabilitated buildings, while the new buildings increased by 100 per cent in