NIGERIA:Lagos To Roll Out Monthly Rent Payment System To Ease Financial Burden

By Ameenat Hamzat, Lagos, Nigeria 

The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options in a bid to reduce the financial pressure of annual rent demands on residents, particularly low-income earners.

This was disclosed on Tuesday by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing, marking the second year of Governor Babajide Sanwo-Olu’s current administration.

Akinderu-Fatai said the proposed initiative aligns with the government’s broader goal of making housing more accessible and affordable.

He noted that the state’s previous rent-to-own scheme, which allowed beneficiaries to make a 5% down payment and spread the balance over 10 years, was well-received and inspired the new move.

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

He explained that annual rent payment poses a challenge for many households, and flexible payment systems like monthly or quarterly plans would offer financial relief and stability.

He added: “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 revealed that consultations with landlords, property developers, and other stakeholders are ongoing to address potential concerns such as enforcement and payment tracking. A pilot phase of the scheme is being planned in selected areas of the state.

The commissioner further noted, “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 stated.

The Lagos State Government says it is committed to implementing the initiative effectively while balancing the interests of both tenants and property owners.