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The Lagos State Government has announced plans to phase out the traditional annual rent payment system in favour of more flexible monthly and quarterly options. The initiative is aimed at easing the financial burden on residents, particularly low-income earners who struggle with large upfront rental costs.
Commissioner for Housing, Moruf Akinderu-Fatai, unveiled the plan during the 2025 Ministerial Press Briefing. He explained that the policy builds on the state’s ongoing efforts to make housing more affordable and accessible. He referenced the success of the state’s earlier rent-to-own scheme, which allows beneficiaries to pay a five percent deposit and spread the remaining balance over 10 years, as a foundation for the new approach.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payments,” Akinderu-Fatai stated.
He emphasized that the annual rent model imposes significant financial stress on many Lagosians. “We believe monthly or quarterly payment options will offer people more breathing room and reduce the stress of sourcing lump sums,” he added.
The commissioner also noted that the government is actively engaging with landlords, property developers, and other stakeholders to address potential challenges, including payment enforcement and secure tracking mechanisms.
“There are issues to resolve — landlord cooperation, payment monitoring, and enforcement mechanisms,” he acknowledged. “But discussions are ongoing, and we are listening to all sides.”
A pilot phase of the revised rent structure is expected to launch in selected areas of the state.
“This is not just policy on paper. We are making real progress. We understand what this means for many families, and we are determined to make it happen,” Akinderu-Fatai concluded.
