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Wike Blames Market Forces for High House Rents in Abuja, Rules Out Rent Control

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has attributed the rising cost of housing in Abuja to market forces, stressing that the government cannot regulate rent prices in a capitalist economy. Wike made this statement on Saturday during a visit to Zeberced Limited Quarry in Kubwa, Abuja, where he inspected the company’s operations.

 

Addressing journalists’ concerns about the escalating rents in the capital, the minister explained that the price surge is not unique to housing but reflects broader economic realities. According to him, market dynamics naturally dictate prices, and rent is no exception.

 

“You are aware that everything has actually increased,” Wike said. “The man who built the houses didn’t do so without the expectation of making a 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.”

 

Wike emphasized that the government cannot impose rent caps, citing the need to encourage private sector investment in housing. He added that attempts to enforce such controls would deter investors from building more houses, which would only worsen the housing deficit.

 

“You want us to make a law and say that a 2-bedroom flat should not be more than N50,000 or N100,000 for example? I don’t think that will encourage investors. We are not running a socialist or communist system; we are running a capitalist economy, and these are determined by market forces,” Wike explained.

 

While acknowledging the difficulties faced by many Abuja residents due to rising rent, the minister made it clear that the government’s role is limited. He noted that, while some regulations could be introduced to guide housing policies, a full intervention in housing prices is impractical in a free-market system.

 

Wike added, “The government can come in with some regulations to guide the system, but we cannot totally take over the housing process. We have to allow the market to play its role while the government ensures there is no exploitation.”

 

The minister’s remarks come at a time when Abuja residents are grappling with soaring accommodation costs, exacerbated by inflation and rising construction expenses. Housing shortages, particularly in the city center, have led to fierce competition for available properties, with rent prices climbing rapidly in response.

 

In defense of property developers and landlords, Wike pointed out that the rising cost of building materials and general inflation have made it necessary for them to adjust rents in order to remain profitable. “The man who builds a house has invested a lot of money and expects to make a reasonable return on that investment. With the cost of cement, labor, and other inputs rising, it is only natural that rent prices will go up as well,” he said.

 

Wike also touched on potential solutions to the housing crisis, urging stakeholders to collaborate in finding creative ways to reduce costs without stifling investment. He called on private developers to work with the government in creating affordable housing schemes for low-income earners while still respecting market dynamics.

 

“We can look at partnerships and public-private ventures that allow for the creation of affordable housing, but we must remember that such initiatives must be economically viable for all parties involved,” Wike said.

 

As part of his broader vision for the Federal Capital Territory, the minister expressed his commitment to addressing Abuja’s urban challenges, including traffic congestion, sanitation, and housing. However, he reiterated that market-driven solutions, rather than strict governmental controls, are key to achieving sustainable development in the city.

 

Wike’s stance on housing has sparked a debate among housing advocates and citizens, with some arguing for more direct government intervention to ensure affordable accommodation for all, especially low-income residents. Others, however, share the minister’s view, recognizing that over-regulation could stifle much-needed investment in the housing sector.

 

With Abuja’s population continuing to grow, the demand for housing is expected to increase, putting further pressure on the already limited supply. Wike concluded by stressing that any long-term solution to the housing crisis must balance affordability with the realities of a market economy.

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Abuja Reports

Atoyebi Adewumi Wins 4th National Essay Competition, Beats 2,000 Contestants

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By Samson Adeyanju

Atoyebi Adewumi has emerged winner of the fourth edition of the National Essay Competition, beating more than 2,000 contestants in an intellectual contest aimed at promoting academic excellence, critical thinking and creative writing among young Nigerians.

The competition, which focused on the relevance of taxation to national development, challenged participants to examine the role of tax revenue in financing public services, stimulating economic growth and strengthening the relationship between government and citizens.

The initiative provided a platform for young Nigerians to demonstrate their writing skills, articulate informed perspectives on national issues and contribute ideas towards building a more responsible and progressive society.

Speaking after being declared winner, an elated Adewumi expressed gratitude to the convener, Foluso Sylvanus Ojo, and the organising team for providing young Nigerians with an opportunity to showcase their intellectual abilities.

“I am so glad, very, very glad, to have this privilege of emerging as the winner. I am grateful to the convener and the entire team, as well as everyone who supported this vision,” Adewumi said.

In his remarks, Ojo expressed concern over the tendency to criticise the attitudes and lifestyles of younger generations without providing adequate opportunities to nurture their talents and channel their energies towards productive pursuits.

He called on the government, corporate organisations and nongovernmental organisations to invest more in educational initiatives that promote intellectual excellence, creativity and responsible citizenship.

According to him, sustained investment in academic competitions and youth development programmes would encourage discipline, innovation and a stronger commitment to national development.

Drawing a comparison with the substantial cash prizes awarded in some reality television competitions in Nigeria, Ojo argued that students and intellectually gifted young Nigerians deserved greater recognition, financial support and encouragement.

“I believe the government should support initiatives like this because individuals need supportive hands, especially from the government. When they receive such support, they become more confident and motivated to continue their good work,” he said.

Ojo maintained that society could not continue to complain about the attitudes and lifestyles of young people without deliberately investing in programmes that encourage positive values and productive engagement.

The fourth edition of the competition also underscored the importance of tax awareness among young Nigerians, highlighting how effective taxation, transparency and accountable governance could contribute to improved infrastructure, education, healthcare and other essential public services.

Beyond celebrating the winner, the competition reinforced the need to identify, encourage and empower emerging intellectual talents capable of contributing meaningfully to Nigeria’s development.

Winner of the 5,000,000 naira

Winner of 3,000,000 naira

Winner of 2,000,000

All the participants 

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Abuja Reports

20 Finalists Begin Final Stage of National Essay Competition

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By Samson Adeyanju

Twenty finalists from across Nigeria have begun the final stage of the fourth edition of the National Essay Competition in Abuja, following an orientation session designed to prepare them for the decisive examination.

The finalists arrived in the Federal Capital Territory for a four-day, all-expenses-paid programme featuring the essay examination, institutional tours and opportunities for learning and networking.

The competition, the brainchild of Mr Foluso Ojo, is sponsored by the Nigeria Revenue Service (NRS).

Ahead of the examination, the finalists participated in an orientation session led by Professor Omotosho Borisade of Ekiti State University, who serves as the competition’s umpire.

The session familiarised participants with the competition’s rules and regulations, examination guidelines and assessment criteria, helping them understand the requirements of the final stage.

The essay examination is scheduled to begin today at 9 a.m., after which the finalists are expected to embark on institutional tours around Abuja.

The programme is designed to extend beyond the contest itself, exposing the finalists to new learning opportunities, professional connections and experiences in the nation’s capital.

The competition brings together young Nigerians to demonstrate their writing ability, knowledge, creativity and critical-thinking skills as they compete for the top honours.

With the finalists prepared for the examination, attention now turns to their performance and the eventual emergence of the competition’s champion.

 

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Abuja Reports

Caritas Nigeria Urges Ecological Conversion, Climate Action

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By Samson Adeyanju

Caritas Nigeria has called on Nigerians to embrace what Pope Francis describes as “ecological conversion,” urging citizens, institutions and governments to move beyond environmental rhetoric and take concrete action against climate change and environmental degradation.

The call was made during the commemoration of World Environment Day 2026 at the Catholic Secretariat of Nigeria (CSN) Training Hall, Abuja, under the theme: “Inspired by Nature. For Climate. For Our Future.”

Delivering an address on behalf of the Catholic Secretariat of Nigeria, the Deputy Secretary, Rev. Fr. Augustine Okochi, described care for the environment as a moral, spiritual and ethical responsibility rooted in Christian faith.

“Our concern for the environment is not a passing trend. It is part of our moral duty, our Christian witness, and our responsibility to future generations,” he said.

Fr. Okochi noted that climate change is already affecting communities through flooding, land degradation, water pollution, rising temperatures and declining livelihoods, with the poor, women, children and displaced persons bearing the greatest burden.

He commended Caritas Nigeria’s efforts in environmental awareness, tree planting, climate-smart agriculture and support for vulnerable communities, while urging families, schools, parishes and institutions to cultivate a culture of environmental stewardship.

Speaking at the event, Caritas Nigeria’s Environmental Focus President, Dr. Pascal Onu, stressed the importance of educating young people on environmental protection through debate and quiz competitions.

“We believe it is important to catch them young. When we imbibe the right environmental culture in our children, it goes a long way in protecting the environment,” he said.

Dr. Onu identified inadequate infrastructure, poor waste management systems and limited funding as major obstacles to environmental sustainability despite increasing public awareness of climate issues.

Also speaking, Director of the Department of Climate Change at the Federal Ministry of Environment, Dr. Iniobong Abiola-Awe, reaffirmed Nigeria’s commitment to climate action through initiatives such as the National Adaptation Plan, Nationally Determined Contributions (NDCs), the Just Transition Action Plan and the National Clean Cooking Policy.

She emphasized the role of young people in advancing climate solutions through programmes such as the Eco-Schools Initiative and the Youth Climate Innovation Hub.

In a goodwill message, the Abuja Environmental Protection Board (AEPB), represented by Chief Environmental Health Officer Omenta Rachael Chinenye, urged Nigerians to draw inspiration from nature in addressing environmental challenges and commended the active participation of students in climate debates.

Students at the event said the programme deepened their understanding of environmental protection, forest conservation and sustainable living, pledging to promote environmental responsibility in their schools and communities.

The event brought together religious leaders, government officials, environmental experts, students and development partners who renewed their commitment to building a cleaner, greener and more climate-resilient Nigeria.

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