Lagos to scrap annual rent, introduce monthly payments
The Lagos State Government has unveiled plans to phase out annual rent payments, introducing more flexible monthly and quarterly options to reduce the financial burden on residents, particularly low-income earners.
At the 2025 Ministerial Press Briefing, Commissioner for Housing, Moruf Akinderu-Fatai, said the initiative builds on the success of the state’s rent-to-own scheme, which allows a small deposit and long-term payment spread. He emphasized that the traditional yearly rent model is financially stressful for many and that more flexible payment terms would ease that pressure.
The government is currently engaging landlords, developers, and other stakeholders to address issues such as enforcement and secure payment tracking. A pilot rollout of the new rent system is expected soon in select areas, with Akinderu-Fatai assuring that the policy is not just theoretical but already in motion to support struggling families.
