The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options, aiming to ease the financial strain on residents, particularly low-income earners.
Commissioner for Housing, Moruf Akinderu-Fatai, revealed the development on Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second term in office.
Akinderu-Fatai described the move as part of the state’s broader strategy to make housing more accessible and affordable. He referenced the success of the state’s earlier rent-to-own scheme, which allowed beneficiaries to pay five per cent upfront and spread the balance over 10 years.
“That initiative was well-received and encouraged us to explore new ways to reduce the burden of annual rent payments,” he said.
Acknowledging that yearly rent demands often pose a challenge for many residents, the commissioner said the proposed monthly and quarterly rent options are designed to offer tenants greater flexibility and financial relief.
“We believe this approach will give people breathing space and reduce the stress of sourcing large lump sums,” he noted.
The government is currently engaging with landlords, property developers, and other key stakeholders to address concerns around enforcement, tracking, and cooperation.
“There are practical issues to resolve, including landlord participation and reliable payment systems. But we are in active discussions and working to find a balanced solution,” Akinderu-Fatai said.
He also disclosed that a pilot phase is being planned for selected areas within the state as part of a gradual rollout.
“This is not just a policy statement. Implementation is underway, and we are committed to seeing it through because we understand the difference it can make in people’s lives,” he affirmed.
