The Lagos State Government has announced plans to implement monthly and quarterly rent payment options, a move aimed at reducing the financial burden of annual rent payments on residents, particularly low-income earners.
The initiative was revealed by the State Commissioner for Housing, Moruf Akinderu-Fatai, on Tuesday during the 2025 Ministerial Press Briefing held to commemorate Governor Babajide Sanwo-Olu’s second year in office.
Akinderu-Fatai said the proposal is part of a broader effort to make housing more affordable and accessible in the state, building on the success of the existing rent-to-own scheme, which allows home seekers to pay a five percent initial deposit 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,” the commissioner stated.
He noted that annual rent payments have long placed significant financial strain on many Lagos residents. The proposed monthly or quarterly rent structure, he said, is expected to provide relief and make housing more sustainable for working-class families.
“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.
To ensure a smooth rollout, the state government is currently in consultation with landlords, property developers, and other key stakeholders to address concerns around enforcement, payment tracking, and general compliance.
“Of course, 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.
The commissioner also disclosed that a pilot phase is being considered in select areas across the state before the full implementation of the policy.
“This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he affirmed.
The initiative is expected to transform rental practices in Lagos, a city where annual rent demands have long been a contentious issue between tenants and landlords.
