Moruf Akinderu-Fatai, the commissioner for housing in Lagos,
says the state government will introduce monthly and quarterly rent payment
options to alleviate financial pressure on residents, particularly low-income
earners.
Akinderu-Fatai spoke during a press briefing marking the
second year of Babajide Sanwo-Olu, governor of Lagos, in office.
He said the initiative is part of the state’s ongoing
efforts to enhance housing accessibility and affordability for residents.
Akinderu-Fatai highlighted the success of the rent-to-own
scheme, which allows beneficiaries to pay a five per percent initial deposit
and spread the remaining balance over a decade.
“That initiative was well-received, and its success
encouraged us to explore new ways to reduce the pressure of yearly rent
payment,” he said.
He said many residents struggle with annual rent payments,
noting that the new system aims to provide relief to them by offering more
manageable payment options.
The commissioner added that the Lagos government is engaging
with landlords, developers, and other stakeholders to address potential
challenges such as enforcement and payment systems before the initiative is
rolled out.
“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,” he said.
He said a pilot phase is planned for selected areas of the
state, adding that the government’s committed to turning the policy into a
reality.
“This is not just a 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 said.
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