Lagos govt to abolish annual rent payment system

The government of Lagos State has announced plans to roll out monthly and quarterly rent payment options as part of a broader efforts to address the housing cost burden on residents, particularly those with low incomes.

This was disclosed by the Commissioner for Housing, Moruf Akinderu-Fatai on Tuesday, during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s second term in office.

He cited the earlier implementation of a rent-to-own initiative, which permits participants to make a five per cent initial deposit and pay off the remainder over a 10-year period.

“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.

Moruf Akinderu-Fatai noted that many residents struggle with annual rent obligations, and that the proposed flexible payment structure could provide much-needed relief.

“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.

Speaking further, the commissioner stressed that the government is currently engaging with stakeholders—including landlords, real estate developers, and other key actors—to address potential enforcement and logistical issues ahead of the policy’s introduction.

“Of course, there are issues to resolve — things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.

He added that a pilot scheme will be launched in select locations across Lagos as part of the preliminary rollout.

“This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he stated.

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