The Lagos State Government has announced plans to replace the traditional annual rent payment system with more flexible monthly and quarterly options. The goal is to reduce the financial pressure on residents, particularly low-income earners who often struggle to pay large lump sums upfront.
During the 2025 Ministerial Press Briefing, Commissioner for Housing, Moruf Akinderu-Fatai, said the new initiative builds on the success of the state’s rent-to-own scheme, which allows beneficiaries to pay a 5% deposit and spread the balance over 10 years.
“The success of that initiative showed us that flexible housing payments work,” he said. “Now, we’re taking it further by tackling the challenge of yearly rent payments.”
Akinderu-Fatai emphasized that annual rent demands place significant financial strain on many Lagosians. “Monthly or quarterly payment options will give people more breathing space and reduce stress,” he added.
The government is currently engaging with landlords, developers, and other stakeholders to address potential challenges such as payment tracking, landlord cooperation, and enforcement.
“There are still issues to iron out,” the commissioner admitted. “But discussions are ongoing, and we’re working with all parties involved.”
A pilot phase of the new rent structure is set to launch in select areas of the state.
“This is more than a policy announcement — it’s a real step toward improving lives. We understand how much this change means for many families, and we’re committed to making it work,” Akinderu-Fatai concluded.