Join our Telegram group and receive breaking and trending news updates directly on your phone.
Join for News Updates ✕
By Dada Ahmed in Lokoja.
(C) Business Day.
The Kogi State chapter of the National Youth Council of Nigeria (NYCN) has raised the alarm over the escalating cost of house rent in Lokoja, urging the state government to urgently intervene to prevent the situation from worsening the economic hardship faced by residents.
The council, in a communiqué signed by its Chairman, Comrade Abdulrahaman Abdulmumuni, described the rising cost of accommodation in the state capital as alarming and increasingly beyond the reach of many residents, particularly young people, civil servants, students and low-income earners.
According to the council, Lokoja has in recent years experienced a steady increase in population due to its position as the administrative and political headquarters of Kogi State.
It noted, however, that the growth in housing infrastructure has not kept pace with the expanding population, resulting in a sharp rise in house rent across many parts of the city.
The youth body expressed concern that rents for modest apartments in several neighbourhoods have risen far above what the average resident can afford.
It warned that if the trend continues unchecked, it could deepen socio-economic hardship and discourage professionals and potential investors from living and working in the state capital.
The NYCN therefore called on the administration of Governor Ahmed Usman Ododo to initiate strategic housing interventions aimed at addressing the growing housing deficit in Lokoja.
It also urged the government to introduce policies that would encourage massive investment in affordable housing projects to meet the increasing demand for accommodation.
The council further appealed to estate developers, housing investors and financial institutions to take advantage of the growing housing demand in Lokoja by investing in modern and affordable housing estates, noting that such investments would not only ease the pressure on existing housing facilities but also stimulate economic growth and job creation.
As part of measures to address the challenge, the youth body proposed the establishment of a Housing Rent Regulatory Body under the supervision of the Kogi State Government.
According to the council, such a body would set fair and standardized benchmarks for house rents in the city while ensuring that landlords operate within reasonable and transparent guidelines.
The NYCN expressed confidence that with the leadership of Governor Ododo and the cooperation of relevant stakeholders, Lokoja could become a model capital city where residents have access to safe, decent and affordable housing.
The council called on the government, private sector, development partners and other stakeholders to collaborate in addressing the housing challenge in the state capital for the benefit of its growing population.
Investigation by The Reporters in Lokoja revealed that the cost of a two-bedroom flat, which previously rented for about ₦200,000 annually, has surged to as much as ₦400,000, while a single-room apartment self contain now goes for between ₦150,000 and ₦200,000, depending on the location.
Some residents who spoke with our correspondent argued that while the high rent charged on newly built houses may be understandable due to the rising cost of building materials, the sharp increase in rents for older buildings is unjustified and amounts to outright exploitation by some landlords and house agents.
