Lagos to Launch Monthly and Quarterly Rent Payment System to Ease Housing Burden

The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options as part of a broader strategy to make housing more affordable and reduce the financial burden on residents, especially low-income earners.

The Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this during the 2025 Ministerial Press Briefing held on Tuesday to mark Governor Babajide Sanwo-Olu’s second year in office.

Akinderu-Fatai explained that the initiative is an extension of previous housing reforms, particularly the Rent-to-Own Scheme, which allows residents to pay a 5% initial deposit and spread the balance over 10 years.

“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.

He noted that many Lagosians struggle to meet annual rent demands, which often result in financial strain and housing instability. By shifting to monthly or quarterly payments, the government aims to provide greater flexibility and economic relief.

“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” the commissioner added.

Stakeholder Consultations and Pilot Phase

Akinderu-Fatai emphasized that the government is currently engaging with landlords, developers, and other stakeholders to resolve issues related to enforcement, compliance, and digital payment tracking.

“Of course, there are issues to resolve — things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.

A pilot phase of the scheme is being planned in selected areas of Lagos State, with the aim of ironing out potential challenges before a wider rollout.

“This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” Akinderu-Fatai affirmed.

The proposed rent reform aligns with the state’s ongoing efforts to enhance housing accessibility and improve urban living conditions across Lagos.