The Lagos State Government is set to introduce a monthly and quarterly rent payment system aimed at reducing the financial strain on residents, especially low-income earners who struggle with annual lump-sum payments.
This was disclosed by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held on Tuesday to mark Governor Babajide Sanwo-Olu’s second year in office.
According to the commissioner, the initiative is part of a broader strategy to make housing more accessible and affordable across the state.
Mr Akinderu-Fatai cited the success of the state’s rent-to-own housing scheme, which allowed tenants to pay an initial five percent down payment and spread the remaining cost over ten years. He noted that the positive reception to that programme encouraged the government to consider more flexible rent structures.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payments,” he said.
He stressed that many tenants, particularly those with modest incomes, struggle to pay annual rent in one lump sum, often leading to hardship or debt.
“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 revealed that ongoing consultations are being held with landlords, property developers, and key stakeholders in the real estate sector to address potential challenges and refine 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.
Mr Akinderu-Fatai affirmed the government’s commitment to the initiative, stating that a pilot phase would soon be launched in selected areas.
“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.”
The initiative is expected to bring significant relief to thousands of Lagosians and could serve as a model for housing reform across Nigeria.