The Lagos State Government has announced that it is in the final stages of launching a monthly and quarterly rent payment initiative, aimed at alleviating the financial burden on residents, particularly low-income earners.
This was revealed by the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held on Tuesday to mark the second year of Governor Babajide Sanwo-Olu’s second term in office.
According to the commissioner, the proposed rent reform is part of broader state efforts to ensure more accessible and affordable housing for Lagosians.
He recalled the earlier implementation of a rent-to-own housing scheme, which enabled tenants to make a five percent initial down payment and spread the remaining balance over a ten-year period.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
Mr. Akinderu-Fatai emphasized that annual rent payments continue to pose significant challenges for many residents, especially those with modest incomes.
“Many tenants, particularly those with modest incomes, find it difficult to pay rent annually,” he noted.
He added that the state believes more flexible rent payment options will offer much-needed relief to renters.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he stated.
To ensure the success of the proposed scheme, the government is currently engaging stakeholders across the real estate industry, including landlords and property developers, to gather input and refine the policy details.
He explained: “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 reaffirmed the government’s resolve to push the initiative forward, beginning with a pilot phase in selected 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,” he said.
