The Federal Capital Territory (FCT) Minister, Nyesom Wike, has stated that the government cannot force landlords to reduce rent in the city, as the cost of rent is market-driven. He stated that no government puts a cap on rent costs, and that everything has increased due to costs. Wike disagreed with complaints about rent increases and suggested that rent should not be singled out. He also asked if a law should be made to limit the price of a 2-bed room flat to N50,000 or N100,000.
Wike stated: “No government puts a cap as regards the cost of rent. It is the market forces.
“You are aware that everything has actually increased because of costs. The man who built the house didn’t build that he would not make profit at the end of the day.
“I don’t agree with people always complaining about rent increases, there are increases in everything today, so rent should not be singled out.
“Do you want us to make a law and say that a 2-bed room flat should not be more than N50,000 or N100,000, for example?”
