Nigerian Institute of Quantity Surveyors Calls for National Policy to Curb Rising Urban Rent Costs
The Nigerian Institute of Quantity Surveyors (NIQS) has urged the Federal Government and the National Assembly to introduce clear regulatory measures to address rapidly escalating house rents in major urban centres, particularly Abuja. The Institute argued that the surge in rental prices is deepening the housing affordability crisis and requires an immediate policy response to protect citizens and stabilise the market.
Speaking at a press briefing in Abuja during the Institute’s 31st Biennial General Meeting and National Conference, NIQS President, Kene C. Nzekwe, noted that rental prices in the capital have risen to levels that are increasingly detached from prevailing income realities. He criticised the growing trend of landlords demanding several million naira for standard units, describing it as an unsustainable burden on households and a threat to inclusive urban development.
Nzekwe emphasised that only the government has the authority to establish a coherent framework that ensures fairness in rental transactions. He called on legislators to prioritise rent regulation as part of broader housing sector reforms, arguing that unchecked pricing distorts demand and places additional pressure on public infrastructure.
Industry Reforms and Need for Standardisation
Beyond rental market regulation, the Institute advocated for stronger adoption of digital technologies and standardised processes across construction and built environment sectors. Nzekwe said improved transparency and data-driven project management would enhance investor confidence and strengthen operational efficiency in the industry.
He stressed that modernising cost management practices remains essential for achieving predictable project outcomes and reducing systemic risks, particularly in a sector where inefficiencies contribute to project delays and cost overruns.
Clampdown on Professional Misconduct
Addressing concerns about professional ethics, Nzekwe warned against the growing incidence of individuals operating outside their areas of competence. He stated that the Institute will sanction members engaged in unqualified or unethical practices, noting that improper cost management poses serious risks to public safety and the integrity of construction projects.
He appealed to the media to support initiatives aimed at curbing professional encroachment and promoting adherence to established professional standards.
Outlook
The NIQS’s intervention reinforces the urgent need for a coordinated national response to housing affordability challenges. As rental costs continue to rise across key cities, policymakers face increasing pressure to introduce measures that balance investor interests with consumer protection while strengthening governance across the construction and housing sectors.
