Landlord reportedly increases rent of house built 30 years ago due to high cost of cement

A Nigerian landlord stated that his tenants will have to pay more rent due to an increase in cement prices.

The owner allegedly raised the rent on the units in his property, citing the rising cost of essential building materials such as cement.

photo used for illustration only. Source: Google Images

A user called Fitila published the story on X, claiming that certain individual in Nigeria are contributing to the situation.

According to the article, the house on which the guy was increasing rent was built 30 years ago.

The post reads: “A landlord who built his house over 30 years ago is increasing house rent because cement is expensive. We are wicked to ourselves.”

A Landlord who built his house over 30 years ago is increasing house rent because cement is expensive. We are wicked to ourselves

— Fitila 💕🇳🇬 (@Pirtim) March 3, 2024

Reactions as landlord increases rent

@lecomtephyn said: “No he is increasing house rent because he too has to fight the economy . Everything has gone up, the rent money is no longer enough to cope with his expenses.”

@BenDiaspora said: “When that landlord wants to buy rice now, does he travel back in time? Which part of inflation affects everyone did you miss in economics class in high school.”

@kejay_prince said: “Because when he wants to make repairs, he travels back in time.”

@IamEriOluwa said: “No! A landlord who built his house 30 years ago invested his money with the hope of getting return on his investment. So, he is increasing the rent to hedge himself against inflation and maintain good return for his investment.”