Lagos to enforce monthly house rent payment all over the state
The Lagos State Government has declared its intention to enforce the payment of rent on a monthly basis.
The Lagos State Governor’s Special Adviser on Housing, Barakat Odunuga-Bakare, revealed exciting news regarding the upcoming monthly rental system during a recent press briefing.
This project, which is expected to go into effect by the end of 2024 or the beginning of the following year, intends to change how rent is collected in Lagos, according to Nigerian Tribune.
Barakat emphasised that the strategy is to emulate other nations that collect rent on a regular basis as a source of inspiration. She claims that monthly leasing will be implemented based on tenants’ incomes, providing for greater flexibility and equity. A trial run will be conducted in the public sector in the first phase to ensure a smooth operation before extending it to private rentals.
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.”
