The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to ease the financial burden on residents, particularly low-income earners.
Commissioner for Housing, Moruf Akinderu-Fatai, made the disclosure on Tuesday during the 2025 Ministerial Press Briefing, marking the second anniversary of Governor Babajide Sanwo-Olu’s current term.
Akinderu-Fatai said the proposed policy is part of ongoing efforts to improve housing accessibility and affordability in the state. He referenced the success of the government’s earlier rent-to-own scheme, which required a five per cent initial payment and allowed beneficiaries to pay off the balance over 10 years.
He noted that many Lagos residents struggle with annual rent payments and expressed confidence that the new rent structure would offer much-needed financial relief.
