The Lagos State Government plans to introduce monthly and quarterly rent payment options to ease financial pressure on residents, especially low-income earners. The initiative builds on the success of the rent-to-own scheme and is aimed at making housing more affordable. The government is consulting with stakeholders and plans a pilot phase in selected areas.

The Lagos State Government has announced its plans to introduce monthly and quarterly rent payment options as part of ongoing efforts to alleviate financial pressure on residents, particularly those in lower-income brackets. This initiative was revealed by the state Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing, which marked the second anniversary of Governor Babajide Sanwo-Olu’s time in office.

Akinderu-Fatai emphasized that this new policy is an extension of the state’s broader goal to make housing more accessible and affordable. He referenced the success of the government’s previous rent-to-own scheme, which allows beneficiaries to make an initial five percent payment and then spread the remaining balance over ten years. The positive response to that initiative has encouraged the government to explore additional strategies to ease the burden of yearly rent payments.

He acknowledged that many residents struggle with the financial demands of paying rent annually, and the introduction of monthly or quarterly payment options is designed to provide much-needed relief. “We believe that offering monthly or quarterly payment options will offer more flexibility, allowing people to breathe easier and reducing the stress associated with having to come up with large lump sums,” Akinderu-Fatai stated.

The commissioner further explained that the government is currently engaging in discussions with landlords, developers, and other key stakeholders to address potential challenges related to the enforcement and management of the new payment system. “There are certainly issues to resolve, such as securing landlord cooperation, tracking payments, and ensuring effective enforcement. However, we are actively consulting with all relevant parties, and we are open to feedback,” he said.

Akinderu-Fatai also disclosed that a pilot phase for the new system is being planned in selected areas of the state. “This is not just a policy on paper; we are making tangible progress. We understand the significance of this for many families, and we are committed to ensuring its successful implementation,” he concluded.