Lagos Government Set to Reduce Rent Burden For Residents With Flexible Rent Payment Plans

The Lagos State Government has announced plans to introduce flexible rent payment options including monthly and quarterly installments aimed at easing the financial strain on residents, particularly those with low incomes.

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

According to Akinderu-Fatai, the proposed initiative is part of a broader strategy to improve access to affordable housing across the state. He highlighted the success of the existing rent-to-own scheme, which allows beneficiaries to make an initial payment of five percent and spread the remaining cost over a decade.

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“That programme was well embraced by residents, and it has motivated us to look for additional ways to ease the pressure caused by one-off annual rent payments,” he said.

He emphasized that many Lagosians struggle to pay rent in a single lump sum, and offering more frequent, smaller payment options would significantly alleviate their burden.

“We understand how stressful it can be to gather a year’s rent at once. By offering monthly or quarterly options, we aim to give tenants more flexibility and reduce that financial pressure,” the commissioner added.

Akinderu-Fatai also noted that consultations are ongoing with key stakeholders including property owners, real estate developers, and financial institutions to address potential hurdles such as payment enforcement and tracking mechanisms.

“We’re aware of the practical issues, from getting landlords on board to ensuring proper payment systems. That’s why we’re engaging everyone involved to find workable solutions,” he explained.

He concluded by revealing that a pilot programme will be launched in select locations across the state, signaling the government’s readiness to move from planning to implementation.

“This isn’t just talk. We’re taking concrete steps, and we’re fully committed to making a real difference in the lives of our people,” he said.