The Lagos State Government says it is working on a plan to allow residents pay house rent monthly or quarterly instead of annually, a move aimed at easing the pressure on low-income earners who struggle to make large upfront payments.
The Commissioner for Housing, Moruf Akinderu-Fatai, revealed this on Tuesday, May 13, during the 2025 Ministerial Press Briefing held to mark Governor Babajide Sanwo-Olu’s second year in office.
According to him, the initiative builds on the state’s previous rent-to-own housing scheme, which allowed beneficiaries to make a five per cent initial deposit and pay the 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,” Akinderu-Fatai said.
He explained that many Lagosians are burdened by the current yearly rent system, and introducing flexible payment plans could make life easier.
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“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he noted.
The commissioner added that the state is currently consulting landlords, developers, and other stakeholders to address expected challenges.
“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.
A pilot version of the scheme will be rolled out in select parts of the state.
“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,” Akinderu-Fatai said.