The Lagos State Government has announced it is finalizing plans to introduce monthly and quarterly rent payment options, a move aimed at reducing the financial strain on residents, particularly low-income earners.
Commissioner for Housing, Mr. Moruf Akinderu-Fatai, disclosed this during the 2025 Ministerial Press Briefing held to mark Governor Babajide Sanwo-Olu’s second year in office on Tuesday.
He explained that the initiative is part of the state’s broader strategy to improve housing accessibility and affordability for residents. Akinderu-Fatai recalled that the government had previously introduced a rent-to-own housing scheme, which allows tenants to make an initial five per cent down payment and spread the remaining balance over ten years.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
The commissioner noted that many tenants, especially those with modest incomes, struggle with the burden of paying rent in a single annual lump sum.
Akinderu-Fatai added, “We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums.”
He revealed that the government is currently engaging landlords, property developers, and other stakeholders in the real estate sector to address potential challenges and refine the policy before its implementation.
He said, “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.”
The commissioner assured that the state government remains fully committed to the initiative and is working diligently to launch a pilot phase in selected areas of Lagos.
