How financial uncertainty disrupts the rental market and the need for policies that protect both tenants and property owners

Economic instability across Nigerian cities has increasingly affected tenants’ ability to meet rental obligations once tenancy is assumed. Fluctuating incomes, inflation, and broader financial uncertainty create disjunctions in the rental market, leaving landlords struggling to collect dues while tenants grapple with affordability. Lagos, as the country’s largest urban center, provides a stark example of this growing challenge.

Landlords face additional pressure from slow repossession processes. Legal procedures for evictions, though necessary to protect social welfare, often take years to conclude. This delay exacerbates financial stress for property owners, particularly those relying on rental income to sustain their investments.

At the same time, forcibly evicting families carries serious social consequences. Tenants in Lagos and other major cities face housing insecurity, and abrupt displacement can deepen poverty and disrupt families. Policymakers must balance the need to protect landlords’ rights with the imperative to safeguard social stability.

The solution lies in fostering a thriving, stable economy. Greater financial security, predictable inflation, and improved employment opportunities would help tenants meet obligations, reduce arrears, and ensure landlords can maintain and invest in their properties. Complementary policies such as time-bound eviction procedures, mediation frameworks and rental assistance programs can also help maintain harmony in the rental space.

Ultimately, a healthy economy benefits all stakeholders. When tenants are financially stable and landlords can reliably collect rents, the rental market functions efficiently, families remain secure, and cities like Lagos can see their housing sectors flourish.

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