The Lagos State Government has announced plans to introduce more flexible rent payment options, allowing residents to pay monthly or quarterly instead of annually. This initiative aims to ease the financial burden on all residents, particularly those with lower incomes.
The state’s Commissioner for Housing, Moruf Akinderu-Fatai, revealed this during the 2025 Ministerial Press Briefing, which commemorated Governor Babajide Sanwo-Olu’s second year in office on Tuesday.
He explained that this new policy builds upon the government’s ongoing commitment to making housing more accessible and affordable for everyone in Lagos.\
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Akinderu-Fatai referenced the state’s existing rent-to-own program, where individuals can make a 5% initial deposit and pay the remaining balance over a ten-year period.
He noted that “That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment.”
He further pointed out that many Lagosians struggle with the current requirement of making a single, large annual rent payment. The proposed monthly or quarterly options are expected to provide significant 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.
The Commissioner also stated that the government is currently in discussions with various stakeholders, including landlords and developers, to address potential challenges related to the implementation and management of these new payment 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 said.
Akinderu-Fatai announced that the government is planning a trial phase in specific areas of the state to test the feasibility of the new system. “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 concluded.
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