The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to alleviate the financial pressure on residents, especially low-income earners.
EpeInsights gathered that the state’s Commissioner for Housing, Moruf Akinderu-Fatai, made the announcement during the 2025 Ministerial Press Briefing held to mark Governor Babajide Sanwo-Olu‘s second year in office.
Akinderu-Fatai explained that this initiative is part of the state’s ongoing efforts to make housing more affordable and accessible.
He pointed to the success of the state’s rent-to-own scheme, which allows beneficiaries to make an initial 5% payment and spread the balance over 10 years, as a driving force behind exploring alternative rent payment methods.
The commissioner acknowledged that many residents face challenges with the traditional annual rent system, and the new approach is expected to provide greater flexibility.
“The introduction of monthly or quarterly payment options will reduce the financial stress caused by lump-sum rent payments,” he said.
The Lagos State Government is currently in talks with landlords, developers, and other stakeholders to address potential challenges such as enforcement and payment tracking.
A pilot phase of the new system will be implemented in selected areas of the state.
“This is not just a policy on paper; we are making significant progress to ensure this becomes a reality for many Lagos residents,” Akinderu-Fatai stated.
