By Queen Madaki
The Bureau News reports that Nigeria’s capital, Abuja, alongside Lagos, has been ranked among the most expensive cities in Africa for rental housing, raising fresh concerns over affordability and urban displacement.
A new report by Fortren & Company, which analysed average rents for two-bedroom apartments across major African cities, placed Abidjan first, followed by Cape Town and Accra. Lagos ranked fourth, with Abuja also listed among the top expensive cities, ahead of Douala, Nairobi, Kigali, Dar es Salaam, Cairo, and Casablanca.
The Bureau News: Abuja, Lagos Face Rising Housing Pressure
In Lagos’ premium neighbourhoods such as Ikoyi, Victoria Island, and Banana Island, the average annual rent for a luxury two-bedroom apartment is estimated at about $19,379 (approximately ₦26.8 million).
In Abuja, similar high-end properties in areas like Maitama, Asokoro, and Wuse II are estimated to range between ₦10 million and ₦18 million per year for two-bedroom apartments, depending on location, finishing, and security infrastructure.
Analysts note that while Abuja rents are slightly lower than Lagos in dollar terms, the cost burden on residents remains significant due to income disparities and rising living expenses.
Nigeria News Today: Rent Inflation Hits Lagos, Abuja Residents Hard
Despite ranking fourth, Lagos is experiencing one of the fastest rent increases on the continent, with residential prices rising between 50 and 200 percent over the past two years.
Abuja is also witnessing similar upward trends, particularly in central districts, where demand from government officials, diplomats, and private sector executives continues to outstrip supply.
