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The Lagos State Government has announced its plans to implement monthly and quarterly rent payment alternatives to help alleviate the financial burden on residents, particularly those with low incomes.
The Commissioner for Housing, Moruf Akinderu-Fatai, shared this information on Tuesday during the 2025 Ministerial Press Briefing to commemorate Governor Babajide Sanwo-Olu’s second year in office. Akinderu-Fatai explained that this proposed policy is part of the state’s ongoing efforts to enhance the accessibility and affordability of housing.
He pointed out that many residents struggle with annual rent payments, and this new system aims to relieve that burden.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
Furthermore, he stated that the government is currently engaging with landlords, developers, and other stakeholders to address possible challenges related to enforcement and payment processes before the initiative is launched, adding that a pilot phase is being planned in selected areas of the state.
