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LAGOS, Nigeria - The Lagos State government is in the process of finalizing a system that will allow residents, particularly those with low incomes, to pay their rent on a monthly or quarterly basis, thereby alleviating their financial strain.
The Commissioner for Housing, Moruf Akinderu-Fatai, revealed this information during the 2025 Ministerial Press Briefing held on Tuesday to mark Governor Babajide Sanwo-Olu’s second anniversary in office.
He stated that this initiative is part of a larger effort to enhance housing affordability and accessibility for residents.
Akinderu-Fatai mentioned a previously launched rent-to-own housing scheme, which enables tenants to make a five percent down payment and pay the remainder over a 10-year period.
He noted that this initiative received positive feedback and its success inspired the exploration of new methods to alleviate the burden of annual rent payments.
Many tenants, especially those with limited incomes, struggle to pay their rent once a year.
Akinderu-Fatai expressed, “We think that offering monthly or quarterly payment plans will provide individuals with more flexibility and reduce the stress of having to gather large sums of money.”
He highlighted that the government is actively engaging with landlords, property developers, and other key stakeholders in the real estate sector to identify challenges and refine the policy before its implementation.
“There are definitely issues to address, such as landlord cooperation, payment tracking, and enforcement. However, discussions are underway, and we are open to feedback from all parties involved,” he stated.
The commissioner emphasized that the government is fully dedicated to this plan and is diligently working to launch a pilot phase in select areas of the state.
“This initiative is not merely theoretical. We are making significant headway. We understand its importance for many families, and we are committed to bringing it to fruition,” he asserted.
