The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to ease financial burdens on residents, particularly low-income earners.
This was revealed by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held on Tuesday to mark Governor Babajide Sanwo-Olu’s second year in office.
Akinderu-Fatai explained that the initiative is part of the state’s continued efforts to make housing more affordable and accessible. He noted that the proposal builds on the success of the government’s earlier rent-to-own scheme, which allowed residents to make a five per cent initial deposit and spread the remaining cost over ten years.
“That initiative was well-received and inspired us to find more ways to reduce the stress of annual rent payments,” he said.
He highlighted that annual rent demands are often a major challenge for many Lagosians, and that more flexible payment structures will bring relief. “Monthly or quarterly payment options will reduce the pressure of lump-sum payments and give people more breathing space,” he added.
According to him, the government is currently in talks with landlords, property developers, and other stakeholders to address potential issues around enforcement and payment tracking.
“We are aware of the challenges involved — landlord cooperation, monitoring systems, and enforcement measures. Discussions are ongoing, and we’re taking all views into account,” he said.
A pilot phase is being planned for select areas across the state, he disclosed.
“This is not just a policy document. It’s a concrete plan. We understand the impact it will have on families, and we are committed to seeing it through,” Akinderu-Fatai assured.
ADEOLA KUNLE
