Lagos State to Launch Monthly, Quarterly Rent Payments To Ease Housing Burden On Residents
The Lagos State Government has unveiled plans to introduce monthly and quarterly rent payment options to address the growing housing pressures and make accommodation more affordable for its residents.
Housing Commissioner Moruf Akinderu-Fatai shared this development during a 2025 Ministerial Press Briefing, which marked the second anniversary of Governor Babajide Sanwo-Olu’s time in office.
The initiative builds on the success of the state’s Rent-to-Own Scheme, which allowed beneficiaries to pay just five percent as a deposit and complete the remaining balance over a period of 10 years. This program proved successful and inspired the introduction of flexible payment models to alleviate the burden of yearly lump-sum rent payments.
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Akinderu-Fatai explained that the traditional yearly rent structure has been a financial strain on many Lagosians. The new monthly and quarterly payment plans aim to provide residents with more financial flexibility and reduce the stress of securing large sums for rent.
“We believe that monthly or quarterly payment options will give people more breathing space and ease the pressure of paying annually,” said Akinderu-Fatai.
The Commissioner also revealed that ongoing consultations with landlords, real estate developers, and other stakeholders are underway to address potential challenges such as enforcement and tracking payments.
“While we are addressing concerns like landlord cooperation and payment systems, the discussions are active, and we are listening to all sides,” he added.
A pilot phase of the new rent initiative is being planned for selected areas in Lagos to test the system before it is rolled out more broadly.
“This is not just a policy in theory—we are making significant progress. We know how important this is for families, and we are committed to making it happen,” Akinderu-Fatai concluded.
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