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Lagos to Introduce monthly rent payment

by Adeyinka A
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The Lagos State Government has announced plans to introduce flexible rent payment options, including monthly and quarterly schedules, to alleviate the financial strain on residents, particularly those on low incomes.

Commissioner for Housing, Moruf Akinderu-Fatai, revealed this during the 2025 Ministerial Press Briefing marking Governor Babajide Sanwo-Olu’s second year in office.

Akinderu-Fatai stated that the government is currently engaging with landlords, developers, and key stakeholders to address potential challenges concerning enforcement and payment mechanisms.

Also Read: Lagos Attracts Over ₦1 Trillion in Investments in One Year – Commissioner

“We recognise the burden that annual rent payments place on many Lagosians. By providing more flexible options, we aim to ease this pressure and improve living conditions,” the commissioner said. “We believe monthly or quarterly payments will offer tenants greater financial relief and reduce the difficulty of gathering lump sums,” he added.

He also highlighted the state’s ongoing rent-to-own scheme, which enables beneficiaries to pay a minimal five per cent initial deposit and spread the remaining balance over ten years a programme that has already provided significant relief for many residents.

Akinderu-Fatai underscored the government’s commitment to implementing practical solutions that consider the economic realities of its citizens, assuring that housing reforms will continue to prioritise inclusivity and sustainability.

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