The Lagos state government has announced its intention to enforce monthly rental payments, aiming to revolutionize the rent collection process in the city. In a recent press briefing, Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, shared details about this innovative initiative.
Scheduled to be rolled out by the end of 2024 or early next year, the monthly rental system is poised to redefine how rents are managed in Lagos. Drawing inspiration from other nations where regular rent payments are the norm, Barakat highlighted the adaptability and fairness of the proposed system, which will be tailored to tenants’ earnings.
The implementation will begin with a trial phase within the public sector before expanding to private rentals. Barakat reassured the public that the N5 billion allocated for the monthly rental plan remains intact, underscoring the government’s commitment to refining the system for optimal efficiency. Despite facing challenges, the initiative is steadily progressing towards its goal of bringing positive changes to Lagos’ housing sector.
Barakat affirmed, “The previous government initiated the monthly leasing program just before its tenure ended. With the new administration, the governor is keen to see the program in action by the end of the year or early next year.”
