Lagos to Introduce Monthly Quarterly Rent Payments to Ease Housing Burden
The Lagos State Government has announced plans to introduce more flexible rent payment structures, including monthly and quarterly options, to relieve residents—especially low-income earners—of the pressure of annual rent payments. The initiative was unveiled by Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing marking Governor Babajide Sanwo-Olu’s second year in office. Akinderu-Fatai said the new system aims to make housing more accessible and reduce the stress of sourcing large lump sums at once. He noted that the government is currently engaging landlords, developers, and stakeholders to address implementation concerns, particularly around enforcement and digital payment methods. The commissioner also highlighted the state’s ongoing rent-to-own scheme, which enables qualified residents to pay just 5% upfront and spread the remaining cost over 10 years. He said the scheme has already helped many Lagosians achieve home ownership. Reaffirming the administration’s commitment to practical housing reforms, Akinderu-Fatai said the flexible rent initiative is aligned with broader efforts to improve living conditions and promote inclusivity. The rollout will begin with pilot communities before expanding across the state.