Akinderu-Fatai said the planned policy is a continuation of the state’s drive to make housing more accessible and affordable.
The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to alleviate financial pressure on residents, particularly low-income earners. Commissioner for Housing Moruf Akinderu-Fatai revealed the initiative during the 2025 Ministerial Press Briefing, framing it as part of Governor Babajide Sanwo-Olu’s affordable housing agenda. “This builds on our successful rent-to-own scheme,” Akinderu-Fatai stated, referencing the existing program that allows 5% down payments with 10-year balances.
The policy aims to counter the prevalent practice of demanding annual rent upfront, which many Lagosians struggle to afford. “Yearly payments create hardship,” the commissioner acknowledged, noting the new system would provide much-needed flexibility. The announcement comes as Lagos grapples with a housing deficit exceeding 2.5 million units and skyrocketing rental costs in Africa’s most populous city.
While implementation details remain undisclosed, the proposal has sparked cautious optimism among tenants’ rights groups. If enacted, Lagos would join a handful of African cities experimenting with alternative rental models to address urban housing crises. The move signals the state’s recognition of housing affordability as critical to economic stability.