Lagos Rolls Out Monthly Rent Payment Plan

Lagos State Government has announced that,  it is working to introduce monthly and quarterly rent payment options as part of efforts to reduce the financial pressure on residents, especially low-income earners. Moruf Akinderu-Fatai, The state Commissioner for Housing made this known on Tuesday during the 2025 Ministerial Press Briefing to mark Governor Babajide Sanwo-Olu’s second year in office. He noted that, the planned policy is a continuation of the state’s drive to make housing more accessible and affordable, recalling the government’s earlier rent-to-own scheme, which allows beneficiaries to make a five per cent initial payment and spread the balance over 10 years. “That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said. Going further, He noted that many residents find annual rent payments difficult and that the new system is expected to provide relief and the government is currently consulting with landlords, developers, and other stakeholders to resolve potential challenges related to enforcement and payment systems before rolling out the initiative. “We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums. There are issues to resolve things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides” He added.

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