In a move aimed at easing housing-related financial burdens, particularly for lower-income households, the Lagos State Government has unveiled plans to implement monthly and quarterly rent payment models for residents across the state.
Speaking during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second year in his current term, Commissioner for Housing, Moruf Akinderu-Fatai, outlined the initiative as part of broader reforms intended to make accommodation in Lagos more financially accessible.
Akinderu-Fatai emphasized that the proposed rent system is a continuation of the state’s commitment to housing affordability and inclusion. He noted that this latest initiative builds on the success of earlier policies such as the rent-to-own scheme, which enables participants to pay just five percent upfront and spread the remaining cost over a ten-year period.
“That program saw significant uptake and positive feedback,” the commissioner remarked. “It proved to us that innovative rent solutions can work. Now we’re ready to take the next step by introducing payment options that don’t require residents to save massive lump sums annually.”
Highlighting the realities faced by many residents, Akinderu-Fatai explained that annual rent payments are financially overwhelming for large segments of the population. He asserted that offering more flexible rent schedules could provide critical financial relief for families already dealing with high living costs.
“Our goal is to provide a buffer for residents. Monthly or quarterly rent payments will make it easier for tenants to manage their finances without being crushed by the pressure of paying one-year rent upfront,” he said.
The commissioner disclosed that the government is actively engaging with landlords, property developers, and other stakeholders to address logistical and operational concerns before fully launching the initiative. Among the issues being discussed are payment enforcement, transaction tracking, and ensuring cooperation from landlords.
“There are definitely hurdles,” he admitted. “But we’re approaching this collaboratively. We’re collecting input from all sides to craft a solution that works for tenants and landlords alike.”
He further revealed that a pilot scheme is currently in development and will be rolled out in select areas of Lagos to assess the viability and refine the implementation framework.
“This isn’t just a theoretical policy; work is already underway. We understand how transformative this could be for many Lagosians, and we’re committed to seeing it through,” Akinderu-Fatai concluded.
