Lagos Government Introduce Monthly, Quarterly Rent Payment Options

The Lagos State Government has announced plans to roll out more flexible rent payment options, including monthly and quarterly structures. This initiative aims to ease the financial burden on residents, particularly low-income earners struggling with yearly rent payments.

The announcement was made by the Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held to commemorate the second year of Governor Babajide Sanwo-Olu’s administration.

Flexible Rent to Support Lagosians

“We understand the pressure that yearly rent payments place on many Lagosians. By introducing more flexible options, we hope to ease this burden and promote better living conditions,” Akinderu-Fatai stated.

He added that monthly or quarterly rent payment structures will reduce the stress associated with sourcing lump sums at once. The move is part of the government’s broader plan to create a more inclusive and sustainable housing system.

Engagement with Stakeholders Underway

According to the commissioner, the government is currently engaging landlords, developers, and stakeholders to address possible implementation challenges, especially regarding enforcement and digital payment systems.

Rent-to-Own Scheme Continues

Akinderu-Fatai also cited the state’s ongoing rent-to-own scheme, which allows eligible residents to pay just 5% upfront and spread the balance over a 10-year period. The program has already benefited numerous Lagosians by making home ownership more accessible.

Government Commitment to Housing Reforms

He emphasized the administration’s commitment to housing reforms that reflect the economic realities of Lagos citizens. “Our focus is to implement practical solutions that improve access to decent housing, promote inclusivity, and enhance overall living standards,” he said.

The flexible rent initiative is expected to launch soon, with pilot phases rolled out across selected communities in the state.