The Lagos State Government has unveiled plans to gradually phase out the traditional annual rent payment system in favour of more flexible monthly and quarterly payment options, in a bold move aimed at making housing more affordable and reducing financial pressure on residents.
The initiative was disclosed by the Lagos State Commissioner for Housing, Hon. Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing held in Alausa, Ikeja.
According to the commissioner, the new rent structure is designed to particularly benefit low- and middle-income earners, many of whom struggle to meet the demands of hefty one-year rent payments upfront.
“This policy is about reducing the stress and financial burden that comes with sourcing large lump sums for rent,” Akinderu-Fatai explained. “We believe monthly or quarterly payment options will provide Lagosians with more breathing room and financial flexibility.”
The initiative draws inspiration from the State Government’s earlier Rent-to-Own Scheme, which allows beneficiaries to make a five percent deposit and spread the balance over a ten-year period. Akinderu-Fatai pointed to the success of that programme as a strong foundation upon which the new rent reform is being built.
“That initiative was well-received, and its success encouraged us to explore new ways to ease housing costs,” he noted.
While the policy is still in its developmental phase, the commissioner confirmed that the State Government is actively consulting with landlords, real estate developers, and other critical stakeholders to iron out the challenges that may arise, including landlord cooperation, enforcement of the new terms, and secure payment tracking systems.
“There are issues to resolve — landlord cooperation, payment monitoring, and enforcement mechanisms,” Akinderu-Fatai acknowledged. “But discussions are ongoing, and we are listening to all sides to ensure smooth implementation.”
A pilot phase of the flexible rent payment plan is set to be rolled out in selected areas across the state, with the aim of refining the model before a wider implementation.
“This is not just policy on paper,” the commissioner asserted. “We are making real progress. We understand what this means for many families, and we are determined to make it happen.”
The initiative is part of the Lagos State Government’s broader housing reform agenda, aimed at creating a more inclusive and livable urban environment for all residents, regardless of income level.
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