The Lagos State Government has unveiled plans to replace the current annual rent payment system with more adaptable monthly and quarterly alternatives.
This initiative is designed to reduce the financial pressure on residents, particularly those with lower incomes who face difficulties in making large upfront rent payments.
Moruf Akinderu-Fatai, the Commissioner for Housing, disclosed the development at the 2025 Ministerial Press Briefing. He explained that the new approach builds on the state’s continued commitment to improving housing affordability and accessibility. He pointed to the earlier rent-to-own scheme, which allows participants to pay just a five percent deposit and spread the rest over a decade, as a successful model that inspired this policy shift.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payments,” he said.
The commissioner emphasized that the conventional yearly rent system imposes significant financial hardship on many Lagos residents. “We believe monthly or quarterly payment options will offer people more breathing room and reduce the stress of sourcing lump sums,” he noted.
He also mentioned that the government is in talks with landlords, developers, and other relevant stakeholders to tackle possible obstacles such as enforcement and secure payment tracking.
“There are issues to resolve — landlord cooperation, payment monitoring, and enforcement mechanisms,” he said. “But discussions are ongoing, and we are listening to all sides.”
A trial phase of the revised rent model is set to begin in selected parts of the state.
“This is not just policy on paper. We are making real progress. We understand what this means for many families, and we are determined to make it happen,” Akinderu-Fatai concluded.
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