Pension-backed home ownership surges as rents squeeze citizens

    Modestus Aneasoronye | Editor’s picks | Sep 15, 2025    
Get Unlimited Access
Subscribe to unlock this article

Complete digital access to quality journalism on any device. Cancel anytime during your trial.

Once registered, you can:

  • Read this article and many more, including access to epapers and research
  • Enjoy customize article feed/recommendation based on your profile
  • Enjoy access to Businessday exclusive events
  • One-Access accross Businessday platforms

Share this article
Shared
2703
times

The sharp increase in housing rents across major Nigerian cities such as Lagos, Abuja, and Port-Harcourt has pushed many citizens into hardship, forcing thousands to fall back on their pension savings to secure residential mortgages.

Continue reading your article with a
BusinessDay subscription





Already a subscriber?
Sign In
RECOMMENDED STORIES
Economy
Nigeria becomes Africa's banking outlier as earnings contract in 2025
Nigeria's banking sector, once the continent's standout profit story, is losing momentum.
Bunmi Bailey | Jun 12, 2026
Economy
South African Kirsh dethrones Rabiu as Africa's fastest-growing billionaire in 2026
...tycoon's wealth jumps 46% after landmark $29bn deal
Bunmi Bailey | Jun 09, 2026
Economy
Nigeria’s minimum wage has been overtaken by a N700,000 survival cost
By the third week of every month, Ibrahim Olarinrin’s salary is gone. The 38-year-old Lagos resident earns N300,000 a month working for a professional services firm in accounting and finance. Yet feeding his wife and two children now costs about N360,000
Oluwatobi Ojabello | Jun 09, 2026
Economy
Nigerian banking elites shift wealth to London property market
Nigeria’s corporate elite and leading bankers are quietly accelerating their investments in London real estate, underscoring a widening disconnect between the country’s harsh economic realities and the offshore wealth strategies of its richest citizens.
Bunmi Bailey | Jun 09, 2026
support_agent
phone
mail_outline
language
help_outline
Conference Ad Conference Ad