The Lagos State Government has announced plans to introduce monthly and quarterly rent payment options to alleviate the financial burden on residents, particularly those in low-income brackets.

Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this initiative on Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu's second year in office.

According to Akinderu-Fatai, the proposed rent model is part of the state's ongoing efforts to enhance housing affordability and accessibility for Lagos residents.

"That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment," he said, referencing the government's existing rent-to-own scheme that allows beneficiaries to secure homes with just a five percent initial deposit and pay the balance over a 10-year period.

The Commissioner noted that many residents find annual rent payments challenging, and the new system is expected to 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.

The government is actively engaging with landlords, developers, and other key stakeholders to address potential challenges surrounding enforcement and payment structures ahead of the initiative's implementation.

"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," Akinderu-Fatai explained.

He revealed that a pilot phase is being planned in selected areas of the state to test the feasibility of the new rent payment system.

"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.

The initiative comes as part of broader efforts by the Lagos State Government to address housing challenges in Nigeria's most populous city, where high rent costs often constitute a significant portion of household expenses.