The Lagos state Government has said plans are in place to implement the monthly rental payment by the end of 2024 or early next year.
The Special Adviser to the Lagos State Governor on Housing, Barakat Odunuga-Bakare, in recent press briefing shared exciting news about the upcoming monthly rental system.
She noted the initiative aims to transform the way rent is collected in Lagos.
Odunuga-Bakare highlighted the inspiration drawn from other countries where rent is collected regularly, and the plan is to follow suit.
She stressed that monthly leasing will be rolled out based on tenants’ earnings, making it more adaptable and fair, noting that the first phase will be a trial run within the public sector, ensuring a smooth operation before extending it to private rentals.
While reassuring the public, Odunuga-Bakare noted that the N5 billion allocated for the monthly rental plan remains untouched, explaining that the slow start is a sign of the government’s dedication to perfecting the system.
She also emphasized that the initiative is progressing steadily despite the challenges. The overall goal is to bring positive changes to the housing sector in Lagos.
“The previous government that launched the monthly leasing program was about to end when the system was to be implemented. Now that we have a new administration, the governor wants the program to go into action by the end of the year or early next year,” she said.
