The parliament passed the resolution during plenary on
Thursday, following the adoption of a motion sponsored by Bassey Akiba, a
lawmaker from Cross River state.

Moving the motion, Akiba said the challenging economic
climate is affecting individuals, households, and businesses, especially those
in rental accommodation.

The legislator said there is often a “sudden surge in rent”
in areas after public infrastructure, such as roads, markets, or other amenities, is constructed.

He said rent in places in the federal capital territory
(FCT) with newly constructed roads has skyrocketed from N800,000 to N2.5
million per annum, placing an unbearable financial burden on tenants.

Akiba said “wanton exploitation” by property owners
undermines the government’s intention to improve citizens’ welfare through
public infrastructure projects, drives Nigerians into hardship, forcing some to
resort to crime to meet inflated demands.

The lawmaker said there is an urgent need to balance the rights
of property owners with the welfare of tenants to ensure fairness, stability,
and sustainability in the housing sector.

Following the motion’s adoption, the house urged the federal
government to prioritise investing in affordable housing initiatives, ensure
citizens’ access to low-cost housing, and reduce pressure on the rental market.

The green chamber also asked the Ministry of Housing and Urban Development to collaborate with state governments to “enforce rent control
measures, ensuring that public infrastructure projects do not lead to
exploitative rent hikes, and cap rent increases at no more than 20 percent of
the existing rent, irrespective of infrastructure improvements or other
factors”.

The house mandated the committee on housing and habitat to
ensure compliance and report back within four weeks for further legislative
action.

In July, stakeholders in Nigeria’s real estate sector raised
the alarm over the high land cost, describing it as a major contributor to the
country’s worsening housing deficit.

The developers said government intervention is critical to
reducing land costs and making housing affordable for low and middle-income
Nigerians.