The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options as part of ongoing efforts to ease housing pressures and make accommodation more accessible to residents.
This was disclosed by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing on Tuesday, held to mark Governor Babajide Sanwo-Olu’s second year in office.
According to Akinderu-Fatai, the proposed flexible rent structure builds upon the success of the state’s previous Rent-to-Own Scheme, which allowed beneficiaries to make a five percent initial deposit and pay off the remaining balance over 10 years.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
He noted that the traditional demand for annual lump-sum rent payments often places a financial strain on Lagosians, adding that the planned monthly and quarterly payment models are aimed at providing much-needed 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 said.
Akinderu-Fatai explained that consultations are ongoing with landlords, real estate developers, and other key stakeholders to address potential challenges, including enforcement mechanisms and payment tracking systems.
“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 added.
He further revealed that a pilot phase of the new rent initiative is being planned for selected locations across Lagos to test the framework before broader 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,” the commissioner assured.
Leave a Comment