The State Commissioner for Housing, Moruf Akinderu-Fatai, revealed this initiative on Tuesday during the 2025 Ministerial Press Briefing, held to commemorate Governor Babajide Sanwo-Olu’s second year in office.
Building on Existing Affordable Housing Initiatives
Akinderu-Fatai emphasized that this proposed policy is a continuation of the state government's ongoing commitment to enhancing housing accessibility and affordability for its populace. He referenced the government's previously successful rent-to-own scheme, which allows eligible beneficiaries to make an initial payment of just five percent and then spread the remaining balance over a ten-year period.
"That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment," the Commissioner stated, highlighting the positive impact of the earlier scheme.
Addressing the Challenges of Annual Rent
Acknowledging the widespread difficulty faced by many Lagos residents in meeting the demands of annual rent payments, Akinderu-Fatai explained that the new, more flexible payment system is designed to provide much-needed financial 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, underscoring the anticipated benefits for tenants.
Engaging Stakeholders to Ensure Smooth Implementation
The Commissioner further noted that the government is currently engaged in crucial consultations with landlords, property developers, and other relevant stakeholders to proactively address potential challenges that may arise concerning enforcement and the establishment of efficient payment systems before the full-scale rollout of the initiative.
"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 assured the public.
Pilot Phase Underway in Select Areas
Providing a tangible outlook for the implementation of the policy, Akinderu-Fatai revealed that the government is planning a pilot phase in carefully selected areas across the state. This initial stage will allow for real-world testing and refinement of the proposed systems before wider adoption.
"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," the Commissioner affirmed, conveying the government's commitment to bringing this initiative to fruition and providing tangible relief to Lagos residents.