Nigeria: Skyrocketing Cost of Living in Abuja

Prev demo: Dependent search Next demo: Ratings search

[webdirectory custom_home="1" listings_view_type="list"]
[webdirectory-search custom_home="1" form_id="Datepicker"]

  1. Nigeria: Skyrocketing Cost of Living in Abuja
Location:
abuja, Nigeria, West Africa
Incident Date: July 28, 2024
Instability Rating Max 5.0: 2.00
DESCRIPTION::

Residents of Nigeria's Federal Capital Territory (FCT) Abuja are struggling with rising rents and a severe housing shortage. The high demand, coupled with limited housing supply, has driven rents to unaffordable levels, forcing many into homelessness or substandard living conditions. Factors contributing to this crisis include rapid urbanization, population growth, and corruption within the housing sector. Homelessness in Abuja has led to health risks, increased public resource strain, and economic impacts.

The Senate President has urged action to curb exploitation by real estate agents. Proposed solutions involve increasing affordable housing supply through government-private sector collaboration, better planning, and tackling corruption. The Renewed Hope Housing Programme aims to deliver 50,000 units nationwide, but concerns remain about affordability for the poor and middle class. Addressing these issues requires a multifaceted approach to ensure accessible and decent housing for all residents.

Submit a Comment

Your email address will not be published. Required fields are marked *

You must be logged in to submit contact form

Send message to moderator