Lagos to Introduce Monthly Rent Payment System

The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options in a bid to ease the financial burden on residents, particularly low-income earners. The State Commissioner for Housing, Moruf Akinderu-Fatai, revealed the development on Tuesday during the 2025 Ministerial Press Briefing, held to mark the second year of Governor Babajide Sanwo-Olu’s second term in office.

Akinderu-Fatai explained that the initiative is part of ongoing efforts to make housing more accessible and affordable. He highlighted the success of the state’s previous rent-to-own scheme, which allowed participants to make a five per cent initial payment and spread the remaining cost over a ten-year period. This earlier programme, he noted, laid the groundwork for the planned transition to more flexible rent structures.

He stated that many Lagos residents struggle with the stress of annual rent payments, and the introduction of monthly or quarterly options would offer much-needed relief. According to the commissioner, the state is actively engaging landlords, developers, and other stakeholders to address issues such as enforcement, payment tracking, and cooperation.

While acknowledging the complexities involved, Akinderu-Fatai assured that consultations are ongoing and that the government is committed to balancing the concerns of all parties. He also disclosed that a pilot phase of the initiative is being planned in selected areas across the state.

“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 said.