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Nigerians slam Fashola for proposing monthly rent payments as solution to inflation

Nigerians, on Tuesday, have criticised the Federal Minister of Works and Housing of Nigeria, Babatunde Fashola, after news, on him suggesting Nigeria to adopt a monthly rent payment scheme, made the round on social media.

Fashola, who is an Ex-Governor of Lagos State, received heavy criticism from the public despite his advocacy on how the scheme could be beneficial to both tenants and landlords.

According to the minister, the new scheme could help the country combat inflation should “state houses of assembly find it a worthwhile cause…”

Reactions from Nigerians

In contrast to the minister’s proposal, some Nigerians have called on the government to provide cheaper housing units for the masses.

A number of other responders taunted that the idea of the monthly rent payments as proposed would not work in a country as Nigeria characterised by high unemployment amongst its population.

See below for some reactions Quillcastle Nigeria gathered:

Afam Ogbogu: “Be reminded that you tried six monthly rent without fees in Lagos and it never worked, the only solution is cheap and affordable mass housing that will render the individual housing useless.”

Moshudi Oyewo Balogun: “Don’t let the estate agent and developers hear that they are the problems in that area.

Solomon Soonen James King: “Will the rent be cheaper? If you’re paying 1.2m a year and you divide it by 12, what is the difference? That system works abroad, because most jobs pay by the hour, with reasonable minimum wage.. no job pays by the week here kn Nigeria, plus there is no economy here to even start with. So what you’re saying doesn’t make sense, won’t work for the common man here.”

Iwolodo Azeez Adelani: “You are not an economist. Is like you are telling us that when monthly salary is converted to weekly wage, inflation will be reduced. Would that not be funny?”

Flanklyn Igangan: “The idea is good but how many can afford to be paying monthly when jobs are not there to earn a monthly salary. This method works in countries where the 90% earn monthly salaries. In Nigeria contractors are owed for years, how do you keep paying monthly rent when you are being owed yearly. Let them fix the economy and we can even pay hourly. If Lagos State can improve to that point, we can explore it here for a year and see how it works.”

Maxwell Mark: “Reduce the cost of cement to 1000 naira and see if people will not build and own their own houses.”

Osaro Morgan Osamudiamen: “Imagine what an ex governor, a SAN And federal minister is proposing as a solution to the inflation? Insecurity, high cost of running industry because you people are not ashamed for not providing constant electricity and the death traps you call roads and above all the looting of the nation treasury gone worse under your government are the root causes of inflation, poverty and criminal activities in the country.”

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About the author

Ridwan Adelaja

Venture analyst focusing on African tech startups, founders and the Big Five ventures: Amazon, Facebook, Apple, Google and Microsoft.

He also takes time out to showcase amazing African thought leaders. Before coming to maintain his spotlight column on Quillcastle Nigeria, he anchored Youngfrica TV Show on CBA TV during his stay in Hargeisa, Somaliland.

Tel: +2348025300029

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