Lagos to Introduce Monthly Rent Payment System for Greater Housing Affordability
In a bold step to ease housing burdens on residents, especially low- and middle-income earners, the Lagos State Government has announced plans to implement monthly and quarterly rent payment options. The initiative was unveiled by the Commissioner for Housing, Hon. Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing marking Governor Babajide Sanwo-Olu’s second year in office.
The Commissioner emphasized that the new payment structure aligns with Governor Sanwo-Olu’s broader housing vision to make shelter more accessible and reduce the financial strain associated with lump-sum rent payments. He referenced the success of the earlier rent-to-own scheme that allowed residents to make a 5% initial deposit and spread the balance over 10 years.
Akinderu-Fatai revealed that stakeholder consultations are ongoing with landlords, developers, and financial institutions to ensure the sustainability and enforcement of the initiative. A pilot phase is expected to roll out in selected areas soon. “This is not just policy on paper. We know what this means for many families, and we are determined to make it happen,” he said.
