The Lagos State Government has announced plans to implement monthly and quarterly rent payment options to ease the housing burden on residents, particularly those with low incomes.
This development was made known by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held on Tuesday to commemorate Governor Babajide Sanwo-Olu’s second year in office.
According to Akinderu-Fatai, the initiative is part of ongoing efforts to improve housing accessibility and affordability across the state. He referenced the earlier rent-to-own scheme, which enabled beneficiaries to make an initial five per cent deposit and spread the remaining payments over a ten-year period.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
He acknowledged the difficulties many Lagosians face with lump-sum annual rent payments, emphasizing that the proposed system aims to bring 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.
ALSO READ
The commissioner further revealed that consultations are ongoing with landlords, developers, and other stakeholders to address possible challenges related to enforcement and payment structures before officially launching the policy.
“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.
A pilot scheme is expected to begin soon in 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.
