Lagos State Deputy Governor Obafemi Hamzat has advised young workers struggling with high housing costs to consider living with their parents or relatives, or sharing accommodation, rather than renting expensive apartments beyond their means.
Hamzat made the remarks on Thursday during a question-and-answer session on Nigeria Info FM, responding to concerns about how low-income earners cope with rising rents in the state.
He was asked how a 22-year-old earning ₦100,000 a month could afford a self-contained apartment or mini-flat costing about ₦1 million annually.
“Don’t let us misunderstand ourselves as a people. We are cultural people,” Hamzat said, noting that many young Nigerians traditionally live with their parents or relatives before becoming financially independent.
He added that shared housing offered a practical way to reduce expenses and that young people should not feel pressured to start with high-end options.
“So, if you don’t start from the top self-contained, you don’t start from the top. You start from the average depending on,” he said.
Hamzat also cautioned against allocating too large a share of income to rent. “In fact, if you spend more than 40 per cent of your income on rent, it is too high because you must eat, you must buy clothes, you must do transportation,” he said.
The deputy governor said the state was promoting mortgage financing to make home ownership more accessible. He gave an example of a ₦7 million property in which a buyer could pay 10 per cent upfront and spread the balance over 10 years, with monthly payments adjusted to income levels.
“Some people pay 25,000 monthly or 35,000, whatever it is, depending on your income,” he said.
He noted that the Lagos State Residents Registration Agency (LASRRA) system helps identify residents and assess eligibility for housing finance, and stressed the importance of a savings culture for mortgage approval.
Hamzat acknowledged that the housing crisis could not be solved without broader economic improvements. “What is important is we must also build our economy in such a way that people earn better,” he said, adding that controlling the rising cost of goods and services would also ease pressure on household budgets.
Lagos has previously advanced mortgage and rent-to-own schemes, including through the LagosHOMS programme, as part of efforts to expand access to housing.
