The Lagos State Government is taking steps to introduce monthly and quarterly rent payment options to alleviate the financial strain on residents, particularly low-income earners.
According to Moruf Akinderu-Fatai, the state’s Commissioner for Housing, this initiative aims to make housing more accessible and affordable.
Speaking at the 2025 Ministerial Press Briefing, Akinderu-Fatai highlighted the government’s earlier rent-to-own scheme, which allowed beneficiaries to make a 5% initial payment and spread the balance over 10 years.
The commissioner noted that the scheme’s success has encouraged the government to explore new ways to reduce the burden of annual rent payments.
Many residents struggle to pay rent in one lump sum, and the new system is expected to provide relief.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” Akinderu-Fatai said.
The government is currently consulting with landlords, developers, and other stakeholders to address potential challenges related to enforcement and payment systems.
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A pilot phase is planned in selected areas of the state, demonstrating the government’s commitment to making the initiative a reality.
“We know what this means for many families, and we are determined to make it happen,” Akinderu-Fatai stated, emphasizing the government’s dedication to improving the lives of Lagos residents.
