The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options aimed at reducing the financial strain on residents, particularly low-income earners.
The Commissioner for Housing, Moruf Akinderu-Fatai, made this known on Tuesday during the 2025 Ministerial Press Briefing held to mark the second year of Governor Babajide Sanwo-Olu’s second term in office.
Akinderu-Fatai said the new rent payment model is part of the state’s broader efforts to make housing more accessible and affordable for Lagosians.
He also highlighted the state’s existing rent-to-own scheme, which enables beneficiaries to make a five percent initial payment and spread the remaining cost over a 10-year period, describing it as a step towards sustainable home ownership.
The commissioner noted that the new initiative, once rolled out, will give tenants more flexibility and relieve them from the burden of paying rent annually.
