Spending 40% of your earnings on rent is excessive — Lagos deputy gov advises young people

Obafemi Hamzat, Lagos state deputy governor, who is also a candidate for the 2027 governorship under the All Progressives Congress (APC), has urged Nigerians, particularly young professionals, to avoid allocating over 40% of their income to rent.

In an interview with Nigerian Info, Hamzat emphasized that youths shouldn’t feel obligated to live in costly apartments as they start their careers. Instead, he highlighted the benefits of staying with family or opting for simpler living arrangements to ease financial burdens.

“We often misunderstand each other culturally. When a young person begins working and isn’t married yet, many of us still live with our parents,” Hamzat explained.

“Others may stay with cousins. Just take a look at Turkey, where young people also share living spaces. So, it’s important to remember that you don’t have to start at the top. A self-contained apartment isn’t the only option.

Explaining his 40 per cent benchmark, he said workers still need money for food, clothing and transportation.

“So, in fact, if you spend more than 40% of your income on rent, it is too high because you must eat, you must buy clothes, you must do transportation,” he said.

Hamzat said young workers could start with smaller accommodation and upgrade as their earnings improve.

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“It doesn’t have to be, if you are a young person, you can start it with one bedroom or even a self-contained like you explained,” Hamzat said.

He also stressed the need to improve Nigerians’ earning power and the wider economy to make housing more affordable.

“But what is important is we must also build our economy in such a way that people earn better. You understand? So that everybody can be uplifted.”