Lagos Government Plans Flexible Rent Options

The Lagos State Government has announced its intention to roll out monthly and quarterly rent payment alternatives aimed at easing financial stress on residents, particularly those with low incomes.

This development was made public by the Commissioner for Housing, Moruf Akinderu-Fatai, on Tuesday during the 2025 Ministerial Press Briefing held in commemoration of Governor Babajide Sanwo-Olu’s second year in office.

According to Akinderu-Fatai, this proposed policy forms part of the ongoing effort to improve the accessibility and affordability of housing across the state.

He referenced a previously introduced rent-to-own programme, which enabled beneficiaries to start with a five per cent initial deposit and pay the remaining amount over a ten-year period.

“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.

He emphasized that many tenants struggle with annual rent demands, and the upcoming policy is designed to ease that burden.

“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.

Akinderu-Fatai further explained that the government is engaging with landlords, property developers, and other relevant parties to address potential issues concerning enforcement and payment processes before implementation.

“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 said.

He also shared that a trial phase will be carried out in selected parts of Lagos.

“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 stated.