Nigerian Reps to Regulate House Rent Nationwide Amid Exploitation Concerns

The Nigerian House of Representatives is set to address the issue of exploitative house rent practices nationwide following a motion sponsored by Hon. Bassey Akiba.

The motion highlights the adverse effects of escalating rent prices on citizens, especially in the face of harsh economic conditions. It calls for government intervention to regulate rent increases, cap them at 20%, and ensure compliance with fair housing practices.

Additionally, a proposed bill seeks to create a framework for affordable housing initiatives to ease the pressure on the rental market. The move aims to strike a balance between landlords' rights and tenants' welfare, ultimately improving the housing sector in Nigeria.