Lagos Deputy Governor advises young workers on rental costs

Lagos State Deputy Governor Obafemi Hamzat has advised young workers facing high rental costs to consider living with parents, relatives, or sharing accommodation rather than renting apartments they cannot afford. Speaking during a session on Nigeria Info FM, Hamzat addressed concerns regarding the difficulty of balancing low monthly salaries with high annual rent requirements.

Hamzat recommended that residents keep rent expenses below 40 per cent of their total income to ensure sufficient funds remain for food, clothing, and transportation. He emphasized that young professionals should choose housing based on their current financial capacity and noted that there is no shame in starting modestly.

To improve long-term housing accessibility, the Deputy Governor advocated for mortgage financing over the traditional practice of making large, one-off payments for property. He noted that Lagos maintains a mortgage board to assist residents in accessing housing finance.