One of the biggest problems people encounter in a cosmopolitan city like Lagos is housing. This is because many Lagosians cannot afford the outrageous house rents charged by landlords let alone buy or build a house.
This is not helped by the fact that landlords and agents connive to jack up the prices of house rents. Some of them demand that you pay for 2-years even though there is a law against that. The law only recognises one year.
So, it is not a surprise to anyone that a room, parlour, toilet/bathroom and kitchen in the city cost as much as N600,000 ($2000). This is quite on the high side. Certainly, only a very few people can afford it.
Luckily, a startup like Fibre has been established to change the housing/rent market in Nigeria.
Fibre which was Founded last year by Obinna Okwodu in 2016 will provide high-quality apartments with the option of paying for your desired apartments on a monthly basis. Interestingly, the apartment will be sourced by Fibre because they work directly with landlords. Hence, you do not need to worry if the apartment suits your taste or not.
How does it work? Prospective tenants will sign a one-year contract, make an initial 25% payment for the house (which is 3 months rent payment) and the balance will be paid over the next 11 months.
You will notice that there is no mention of agents here. This is good news because agents are the ones who usually shoot up the cost of house rents. However, with Fibre, this will hopefully end and Lagosians will not only be able to live in their preferred apartments, they can also afford it.