As part of efforts to reduce the financial pressure on residents, especially low-income earners, the Lagos State Government is reportedly working to introduce monthly and quarterly rent payment options.
The state Commissioner for Housing, Moruf Akinderu-Fatai, disclosed during the 2025 Ministerial Press Briefing to mark Governor Babajide Sanwo-Olu’s second year in office.
Stating that the planned policy is a continuation of the state’s drive to make housing more accessible and affordable, recalling the government’s earlier rent-to-own scheme, which allows beneficiaries to make a five percent initial payment and spread the balance over 10 years.
That initiative was well-received, and its success encouraged the exploration of new ways to reduce the pressure of yearly rent payments.
Many residents find annual rent payments difficult, and the new system is expected to provide relief. The monthly or quarterly payment options would give people more breathing space and reduce the stress associated with sourcing for large sums of money at one goal.
He added that the government is currently consulting with landlords, developers, and other stakeholders to resolve potential challenges related to enforcement and payment systems before rolling out the initiative.
“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.
He revealed that a pilot phase is being planned in selected areas 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.”