In a recent press briefing, Barakat Odunuga-Bakare, Special Adviser to the Lagos State Governor on Housing, unveiled plans for the enforcement of monthly rental payments. This groundbreaking initiative, set to be implemented by the end of 2024 or early next year, seeks to revolutionize rent collection practices in Lagos.
Inspired by successful models from other countries, where rent is collected on a monthly basis, the Lagos State Government aims to adopt a similar approach. Barakat highlighted the flexibility and fairness of the new system, which will tailor monthly leasing payments according to tenants’ earnings. The implementation will commence with a trial phase within the public sector before expanding to private rentals.
Addressing concerns about the initiative’s progress, Barakat assured the public that the allocated N5 billion for the monthly rental plan remains intact. She emphasized the government’s commitment to refining the system, citing the slow start as evidence of careful planning. Despite challenges, the initiative is steadily advancing towards its goal of positively transforming the housing sector in Lagos.
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