In a move aimed at easing the pressure of yearly rent payments, the Lagos State Government has announced plans to introduce a monthly and quarterly rent payment system, especially targeted at low-income earners.
The Commissioner for Housing, Mr. Moruf Akinderu-Fatai, made the disclosure on Tuesday during the 2025 Ministerial Press Briefing to mark Governor Babajide Sanwo-Olu’s second year in his second term.
Akinderu-Fatai explained that the planned rent reform is part of the state’s broader effort to make housing more affordable and accessible. He said the current annual rent structure puts too much financial strain on many residents.
“We believe that monthly or quarterly payments will give people more breathing space and reduce the stress of sourcing large amounts at once,” he said.
The commissioner noted that the new plan builds on the success of the rent-to-own scheme, where tenants pay just five percent upfront and spread the balance over 10 years.
He also revealed that the government is already in talks with landlords, property developers, and other stakeholders to address concerns and fine-tune the system before implementation.
The pilot phase of the initiative is expected to begin in selected areas across the state. The government assured that this is not just a proposal but a real plan already in motion.
