In a bid to ease the financial burden on residents, particularly low-income earners, the Lagos State Government has announced plans to implement monthly and quarterly rent payment options.
The State Commissioner for Housing, Moruf Akinderu-Fatai, made this known on Tuesday during the 2025 Ministerial Press Briefing held to commemorate Governor Babajide Sanwo-Olu’s second year in office.
According to Akinderu-Fatai, the new Lagos monthly or quarterly rent payment structure is a continuation of the government’s ongoing efforts to make housing more affordable and accessible for residents.
He highlighted the state’s earlier rent-to-own scheme, which allowed beneficiaries to make a five per cent 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 said.
Recognising the financial strain that annual rent demands place on many Lagosians, the commissioner said the alternative rent options will offer 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.
Akinderu-Fatai explained that the government is already in talks with landlords, developers, and key stakeholders to address potential issues surrounding implementation, such as enforcement and payment tracking.
“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.
He also revealed that a pilot phase of the initiative is being planned for selected locations across the state.
“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 stated.
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