The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options as part of its efforts to ease the financial burden on residents, especially low-income earners.
Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this on Tuesday during the 2025 Ministerial Press Briefing to mark Governor Babajide Sanwo-Olu’s second year in office.
Akinderu-Fatai said the initiative builds on the success of the state’s earlier rent-to-own scheme, which allows beneficiaries to pay a 5% initial deposit and spread the 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 noted.
He stated that many Lagosians struggle to pay rent annually and that flexible payment structures like monthly or quarterly options would offer critical relief.
“We believe this system will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
The commissioner explained that the government is in active consultations with landlords, developers, and other stakeholders to address potential challenges around enforcement and payment tracking before launching the policy.
“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,” Akinderu-Fatai added.
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