The Lagos state government has made it known that it will enforce monthly rental payments. In a recent press briefing, Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, shared exciting news about the upcoming monthly rental system.
Set to be implemented by the end of 2024 or early next year, this initiative aims to transform the way rent is collected in Lagos.
Barakat emphasized the inspiration drawn from other countries where rent is collected regularly, and the plan is to follow suit. According to her, monthly leasing will be rolled out based on tenants’ earnings, making it more adaptable and fair. The first phase will be a trial run within the public sector, ensuring a smooth operation before extending it to private rentals.
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Reassuring the public, Barakat mentioned that the N5 billion allocated for the monthly rental plan remains untouched. She explained that the slow start is a sign of the government’s dedication to perfecting the system, emphasizing that the initiative is progressing steadily despite the challenges. The overall goal is to bring positive changes to the housing sector in Lagos.
She stated, “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.”
