Lagos State Deputy Governor Obafemi Hamzat has advised young workers struggling with the high cost of housing to consider living with their parents, relatives or sharing accommodation rather than taking on rent they cannot comfortably afford.
Hamzat gave the advice during a question-and-answer session with Nigeria Info FM while responding to concerns about how young workers earning relatively modest salaries can cope with Lagos’ rising housing costs.
The deputy governor was asked how a 22-year-old earning about ₦100,000 monthly could afford a self-contained apartment or mini-flat when annual rent could reach about ₦1 million.
Hamzat said young workers should not feel pressured to immediately move into expensive accommodation simply because they have started earning.
He suggested that young people could remain with their parents or relatives, or share accommodation, while building their savings and improving their financial position.
The deputy governor also advised residents to be cautious about the proportion of their income committed to rent.
According to him, spending more than 40 per cent of one’s income on rent is too high, because residents still have to meet other essential expenses such as food, clothing and transportation.
Hamzat also highlighted the Lagos State Government’s mortgage strategy as part of its response to the housing affordability problem.
He said the state’s mortgage system was designed to allow residents to acquire homes through structured payments rather than paying the full cost of a property at once.
Using an example of a property costing ₦7 million, he explained that a buyer could potentially make a 10 per cent initial payment and spread the remaining balance over several years, depending on their income and repayment capacity.
The deputy governor acknowledged that housing affordability cannot be separated from the wider economic situation.
He said improving residents’ incomes remains essential if Lagos is to make housing more affordable for workers.
His comments have triggered renewed discussion about the realities facing young workers in Lagos, where rents and other living costs have risen sharply.