The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to ease the financial burden on residents, particularly low-income earners.
The Commissioner for Housing, Moruf Akinderu-Fatai, shared this development on Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second year in office.
According to Akinderu-Fatai, the initiative is part of the state’s broader effort to make housing more accessible and affordable. He referenced the earlier rent-to-own scheme, which allowed participants to make a five per cent initial payment and spread the remainder over 10 years — a program he said was well-received.
“The success of the rent-to-own initiative has encouraged us to explore further ways to ease the burden of annual rent payments,” he said.
He noted that many residents struggle to meet annual rent obligations and that offering more flexible payment structures could offer significant relief.
“Monthly or quarterly rent options will reduce the stress of sourcing large sums at once and give residents more financial breathing room,” Akinderu-Fatai explained.
He added that consultations are ongoing with landlords, developers, and other stakeholders to address potential implementation challenges such as payment tracking and enforcement mechanisms.
“We’re engaging all stakeholders to ensure a smooth rollout. This is more than just a policy proposal — we are actively working to make it a reality,” he said, revealing that a pilot phase will be launched in selected areas of the state.
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