Officials in Nigeria’s Lagos State are exploring plans to introduce monthly and quarterly rent payment options, aiming to reduce the significant financial pressure faced by tenants, particularly those on lower incomes. The current system often requires residents to pay a full year’s rent upfront.
The proposal was announced earlier this week by the State Commissioner for Housing, Moruf Akinderu-Fatai, during a ministerial press briefing in Lagos.
Mr. Akinderu-Fatai stated the initiative is part of the government’s ongoing efforts to make housing more accessible and affordable in the densely populated commercial hub. He noted that many residents struggle with the difficulty of sourcing large lump sums for annual rent.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” the commissioner said.
This move follows a previous “rent-to-own” scheme introduced by the state government, which allowed beneficiaries to make a small initial deposit and spread the remaining balance over a decade. The success of that programme reportedly encouraged the exploration of more flexible rental payment schedules.
The government is currently in consultation with landlords, property developers, and other relevant parties to address potential challenges, including enforcement mechanisms and payment systems, before any new policy is implemented.
According to Mr. Akinderu-Fatai, a pilot phase for the new rent payment options is being planned for selected areas within Lagos. “We are making real progress,” he stated. “We know what this means for many families, and we are determined to make it happen.”
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