The Lagos State Government is working to ease the burden of annual rent payments by introducing monthly and quarterly options, with a pilot phase in the pipeline.
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The Lagos State Government has announced plans to introduce monthly and quarterly rent payment systems to ease housing burdens on residents.
Speaking at the 2025 Ministerial Briefing in Ikeja, Commissioner for Housing, Moruf Akinderu-Fatai, said the move aligns with Governor Babajide Sanwo-Olu’s vision of affordable housing.
“It is the position of this current government that workers do not get paid every year,” he said. “And our destination is to find a way to take us down to a monthly rent agreement. That’s our destination.”
He acknowledged challenges in implementation, citing existing tenancy laws and the need for private sector cooperation.
“When it comes to implementation, there are things that may not have been envisaged that come up. Because we work in tandem with the private sector, we cannot force the landlords to take such measures,” he said.
Akinderu-Fatai also highlighted the success of the state’s rent-to-own scheme, which allows tenants to pay 5% upfront and spread the balance over 10 years.