The Lagos Government says it will introduce monthly and quarterly payment of rents as part of measures to ease the housing burdens on residents of the state.
This came from the Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, who spoke in Ikeja during the 2025 Ministerial Briefing held to mark Governor Babajide Sanwo-Olu’s second year in office.
“It is the position of this current government that workers do not get paid every year,” he said. “And our destination is to find a way to take us down to a monthly rent agreement. That’s our destination.”
According to him, while the Lagos Government had in the past called for monthly and other flexible payment options, it was difficult to implement due to the state’s laws.
He said, “when it comes to implementation, there are things that may not have been envisaged that come up. Because we work in tandem with the private sector, we cannot force the landlords to take such measures”.
The commissioner said the Lagos State Tenancy Law is being reviewed to make rent payments more flexible.
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He also referenced Lagos State’s rent-to-own scheme that lets residents pay five per cent upfront and spread the balance over 10 years.
“Additionally, gentlemen of the press, you may recall that the Lagos State Government introduced a rent-to-own scheme that allows tenants to own their homes by paying an initial 5% and then spreading payments over 10 years,” Moruf Akinderu-Fatai said at the event on Tuesday.
“The success of this initiative encouraged the need to promote the implementation of monthly and quarterly rent to provide succour to rent seekers
“This will replace the burden of yearly rent payments, especially for low-income earners.”
The commissioner said the Lagos State Government is working with stakeholders over challenges impeding such an initiative.
“Factors impeding the take-off of these initiatives have been examined with the engagement of all direct and indirect holders in the real estate business,” the commissioner added.
Source: Channels TV
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