Rita Odafe
The Lagos State authorities have announced a new approach to rent payments, allowing residents to pay their rent monthly or quarterly. This initiative aims to ease the financial burden on individuals, particularly those with lower incomes.
During the 2025 Ministerial Press Briefing, Housing Commissioner Moruf Akinderu-Fatai highlighted this plan in honor of Governor Babajide Sanwo-Olu’s second year in office.
Akinderu-Fatai mentioned that this new rent payment strategy is part of the state’s initiative to improve housing affordability and access. He also noted the ongoing rent-to-own program, which allows participants to buy homes after making an initial 5% payment, with the remaining balance payable over a decade.
“The positive feedback from this initiative has motivated us to find additional ways to alleviate the burden of annual rent,” he stated.
He acknowledged the challenges many residents face with yearly rent payments, expressing optimism that this new system will bring relief.
“Our belief is that the option for monthly or quarterly payments will provide individuals with greater flexibility and lessen the anxiety surrounding large lump sums,” he remarked.
He emphasized that the government is in active conversation with landlords, property developers, and other essential parties to tackle any potential obstacles related to the enforcement and processes that will support the rollout of this new initiative.
“Resolving matters such as landlord agreements, tracking payments, and enforcement is crucial. We’re in discussions, and we are open to all feedback,” he explained.
He also announced that a trial phase will be launched in certain regions of the state.
“This is more than just a concept; we are making tangible advancements. We recognize its significance for many households and are committed to making this a reality,” he concluded.
