New Cement Price: Landlord Increases Rent of House Built 30 Years Ago Due to High Cost of Materials

• A Nigerian man who owns a house has increased the rent of the apartments, citing the increased cost of cement
• A viral story shared on X by Fitila indicates that the house is not new, as it was built 30 years ago
• However, the landlord is said to be hell-bent on getting more money from the house as the cost of cement climbs

A Nigerian landlord said his tenants would have to pay more rent because there was an increase in cement prices.

The landlord reportedly increased the rent on the apartments in his house, citing the skyrocketing cost of vital building materials such as cement.

The story was shared on X by a user named Fitila, who said some individual Nigerians are part of the problem.

The post noted that the house the man was increasing rent on was built 30 years ago.

Read also

"No need for cement": Nigerian man displays cheap 'mud' house under construction, photo trends

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."

See the post below:

Reactions as landlord increases rent

@adewalefajana said:

"Has he recouped the investment in land and building and made a decent profit margin? Does he maintain the house? Does he pay ground rents? Does he provide facilities that makes the property tenantable- Water? Light? Security? Does he pay for services to manage the house?"

@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."

Read also

"More than 10 years like dis": Man shares video of empty abandoned estate in Abuja, amazes Nigerians

@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."

@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."

Nigerians help old man to start cement business

Meanwhile, Legit.ng reported that Nigerians on social media put smiles on the lips of an old man who was spotted working hard at a construction site.

It all started when the man was spotted moulding block despite having problems with his posture.

Nigerians have now opened a cement business for him, starting with a whole trailer load of Dangote cement.

Source: Legit.ng