ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Thursday, September 11, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Economy And Business

BREAKING: Lagos Government Scrapes Annual House Rent, Introduces Monthly Payments

A pilot phase of the new rent structure is expected to roll out in select areas of the state.

by NewsOnline Nigeria
May 14, 2025
in Economy And Business, Headline
0
Lagos Government

Lagos Government is set to scrap annual house rent and introduce a monthly payment system.

 

NewsOnline Nigeria reports that the Lagos State Government has announced plans to phase out annual rent payments in favour of more flexible monthly and quarterly options.

This Nigeria news platform understands that the move aims to ease the financial burden on residents, especially low-income earners who struggle with large upfront rental costs.

 

ALSO: Oshiomhole Blasts Abati, Challenges Him To Physical Confrontation On Street

Commissioner for Housing, Moruf Akinderu-Fatai, who revealed the initiative during the 2025 Ministerial Press Briefing, said the initiative builds on the state’s ongoing efforts to make housing more affordable and accessible. He cited the earlier rent-to-own scheme, which allows beneficiaries to pay a five percent deposit and spread the remaining balance over 10 years, as a successful foundation for this new policy.

“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payments,” he said.

The commissioner stressed that the traditional annual rent model places an undue financial strain on many Lagosians. “We believe monthly or quarterly payment options will offer people more breathing room and reduce the stress of sourcing lump sums,” he noted.

He also confirmed that the government is engaging with landlords, property developers, and other stakeholders to address potential challenges, including enforcement and secure payment tracking.

“There are issues to resolve — landlord cooperation, payment monitoring, and enforcement mechanisms,” he said. “But discussions are ongoing, and we are listening to all sides.”

A pilot phase of the new rent structure is expected to roll out in select areas of the state.

“This is not just policy on paper. We are making real progress. We understand what this means for many families, and we are determined to make it happen,” Akinderu-Fatai concluded.

ADVERTISEMENT
Previous Post

Zoho Deepens CRM Platform with AI and Workflow Automation Features

Next Post

BREAKING: JAMB’s Registrar, Prof. Ishaq Oloyede Under Fire Over JAMB Results Error

Next Post
Prof. Ishaq Oloyede

BREAKING: JAMB’s Registrar, Prof. Ishaq Oloyede Under Fire Over JAMB Results Error

Trending Stories

Former NNPC GM

BREAKING: Former NNPC GM Convicted In US Over $2.1 Million Bribe (PHOTOS)

New Curriculum for Primary and Secondary Schools

FG Unveils New Curriculum for Primary and Secondary Schools

Tinubu

BREAKING: Tinubu Orders CBN To Track All Digital Currencies Payments

NUPRC

NUPRC Secures $400M Oilfield Decommissioning Liabilities, Tightens Rules on Asset Divestments

INEC Chairman Mahmood Yakubu

Tinubu Begins Search for Successor to INEC Chairman Mahmood Yakubu

National Grid

BREAKING: National Grid Collapses in Nigeria, Power Output Plummets to 1.5MW

Watch Viral Sex Video of Anambra Married Woman

Watch Viral Sex Video Of Anambra Married Woman With Husband’s Best Friend

Charlie Kirk

Watch Moment Charlie Kirk Was Shot Dead at Utah Campus Event (VIDEO)

Wike

Wike Fines Ganduje, Oyinlola, Idiagbon Family, NNPC, Others N5m Each (FULL LIST)

Union Bank

Union Bank Faces Uncertain Future as It Scrambles for New Core Investor

Latest Stories

Technical Schools In Nigeria

FG Approves 26 Trades For Technical Schools In Nigeria (FULL LIST)

Minister Imaan Sulaiman-Ibrahim

Women Affairs Ministry Staff Lock Out Minister Imaan Sulaiman-Ibrahim in Abuja (VIDEO)

Charlie Kirk

Watch Moment Charlie Kirk Was Shot Dead at Utah Campus Event (VIDEO)

FEC Committee

President Tinubu Orders FEC Committee to Tackle Soaring Food Prices In Nigeria

Resident Doctors

BREAKING: Resident Doctors Announce Five-Day Warning Strike Nationwide

Nosa Iyamu

Nigerian Businesses Must Embrace AI in the Future of Work – Nosa Iyamu

NUPRC

NUPRC Secures $400M Oilfield Decommissioning Liabilities, Tightens Rules on Asset Divestments

CBN

CBN Launches Nigeria Payments System Vision 2028 to Deepen Digital Finance

Mele Kyari

BREAKING: EFCC Quizzes Ex-NNPCL Boss Mele Kyari Over Alleged Multi-Billion Naira Fraud

Union Bank

Union Bank Faces Uncertain Future as It Scrambles for New Core Investor

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria