Ekiti State Faces Housing Affordability Crisis as Inflation Drives Sharp Rent Increases
Ekiti recorded one of the nation’s highest inflation rates in late 2025, with housing and accommodation expenses
Ekiti State Residents are experiencing a significant escalation in housing costs as persistent inflationary pressures drive rents to record highs. Recent data from the National Bureau of Statistics (NBS) Consumer Price Index reveals that Ekiti recorded one of the nation’s highest inflation rates in late 2025, with housing and accommodation expenses identified as primary drivers of this trend. The surge has sparked concerns among policymakers and community leaders regarding the long-term socio-economic stability of the state.
Market Dynamics in Key Urban and Educational Hubs
The rental spike is most pronounced in the state capital, Ado-Ekiti, and towns with a high concentration of academic institutions, such as Oye-Ekiti, Ikere-Ekiti, and Iyin-Ekiti. These areas face a unique set of pressures, including rapid population growth and a steady influx of students, which have not been met with a corresponding increase in housing supply.
Current market assessments indicate the following price benchmarks for rental properties:
Single-room apartments: ₦80,000 to ₦150,000 per annum.
Self-contained units: ₦200,000 to ₦350,000 per annum.
Two-bedroom flats (Prime areas): ₦400,000 to ₦500,000 per annum.
These figures represent a substantial departure from historical averages in the state, leading many households to relocate to outlying communities. This shift has inadvertently increased secondary costs, such as daily transportation and logistical expenses, further straining disposable incomes.
Impact on Education and Essential Services
The rising cost of living threatens Ekiti’s reputation as a regional education hub. Professor Gbenga Aribisala, Vice-Chancellor of the Federal University of Technology and Environmental Sciences (FUTES) in Iyin-Ekiti, warned that excessive rent hikes in host communities could discourage prospective students and disrupt academic activities.
Similarly, Chief Joshua Olaoye noted that the current trajectory makes the state increasingly unaffordable for essential workers, including teachers and healthcare providers. Community leaders have called for immediate intervention from traditional rulers and local stakeholders to prevent further escalation that could weaken the state's competitive edge.
Legislative and Structural Responses
In response to the public outcry, the Speaker of the Ekiti State House of Assembly, Adeoye Aribasoye, confirmed that lawmakers have initiated a comprehensive review of the state’s tenancy and housing regulations. The objective of this legislative exercise is to create a balanced framework that protects tenants from arbitrary increases while ensuring that the interests of property owners and investors are safeguarded.
Urban planners attribute the surge to deeper structural deficiencies within the real estate sector. Key factors include:
Rising Construction Costs: The high cost of building materials has slowed the pace of new housing developments.
Weak Enforcement: Existing tenancy laws have seen limited enforcement, allowing for unregulated market practices.
Inadequate Supply: The gap between the growing demand for modern housing and the available stock continues to widen.
Conclusion
The housing situation in Ekiti State reflects broader national economic challenges, yet it is intensified by local demand in education-centric towns. While the legislative review by the House of Assembly is a necessary step, analysts suggest that long-term relief will require coordinated efforts between the government and private developers to stimulate housing production. Without such interventions, the pressure on housing affordability is expected to persist throughout 2026.
