The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options, aiming to alleviate the financial burden on residents, particularly low-income earners.
This was disclosed by the Commissioner for Housing, Moruf Akinderu-Fatai, on Tuesday during the 2025 Ministerial Press Briefing to mark the second year of Governor Babajide Sanwo-Olu’s administration.
According to Akinderu-Fatai, the initiative is part of ongoing efforts to make housing in Lagos more accessible and affordable.
He referenced the earlier rent-to-own scheme by the state, which allows beneficiaries to pay a five per cent deposit and spread the remaining cost over a 10-year period.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
The commissioner acknowledged the challenges residents face with annual rent payments and expressed confidence that more flexible payment options would bring relief.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
Akinderu-Fatai also revealed that the government is engaging landlords, developers, and other key stakeholders to address concerns around implementation, especially with regards to enforcement and payment tracking.
“Of course, there are issues to resolve — things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.
He further disclosed that the initiative will undergo a pilot phase in selected areas before a full rollout.
“This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he stated.
