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As part of efforts to reduce financial pressure on residents, especially low-income earners, the Lagos State Government is working to introduce monthly and quarterly payment options for tenants across the state.
Moruf Akinderu-Fatai, the state Commissioner for Housing, disclosed this during the 2025 Ministerial Press Briefing to mark Governor Babajide Sanwo-Olu’s second year in office on Tuesday, May 13, 2025.
According to the commissioner, the planned policy continues the state's effort to provide more access to and affordable housing.
Akinderu-Fatai recalled an earlier scheme, rent-to-own, which the government introduced to allow beneficiaries to make a five percent initial payment and spread the balance over 10 years.
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“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
The commissioner said that many residents find the annual rent payments difficult and that the new system is expected to ease the pressure.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
He further stated that before rolling out the initiative, the government had begun consultations with landlords, developers, and other stakeholders to resolve potential hindrances related to enforcement and payment systems.
“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.
Akinderu-Fatai announced that a pilot phase is being planned in selected areas of the state.
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“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,” he added.