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5 days ago
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- The Lagos State Government plans to present monthly and quarterly rent outgo options to easiness the fiscal strain connected residents
- Housing Commissioner explained that this argumentation aims to marque lodging much affordable by providing flexible outgo methods
- He said that a aviator signifier for the inaugural is presently being developed successful consultation with landlords and different stakeholders
Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.
The Lagos State Government has announced plans to instrumentality monthly and quarterly rent outgo options aimed astatine easing the fiscal load connected residents, peculiarly those with debased incomes.
Moruf Akinderu-Fatai, the state's Commissioner for Housing, revealed this inaugural connected Tuesday during the 2025 Ministerial Press Briefing commemorating Governor Babajide Sanwo-Olu’s 2nd day successful office.
Source: UGC
Monthly rent strategy acceptable to regenerate yearly payments
Many Nigerians find it challenging to save capable money to conscionable the rising yearly rent payments often required by landlords.
Conversely, landlords and spot owners often constituent to the expanding prices of operation materials, specified arsenic cement, arsenic justification for the precocious rents and the penchant for yearly outgo schedules.
According to Akinderu-Fatai, this argumentation is portion of ongoing efforts to heighten lodging affordability and accessibility.
He highlighted that galore residents conflict with paying rent annually, and the caller outgo operation is intended to connection them greater flexibility and fiscal relief.
He said:
“We judge that monthly oregon quarterly outgo options volition springiness radical much breathing abstraction and trim the accent associated with sourcing lump sums.”He besides mentioned that the authorities is engaging with landlords, developers, and different cardinal stakeholders to code imaginable issues concerning enforcement and outgo mechanisms earlier the argumentation is launched.
According to Punch, helium acknowledged that important advancement has been achieved and expressed the government's committedness to implementing the argumentation to payment galore families.
Furthermore, helium disclosed that a aviator programme is acceptable to beryllium conducted successful circumstantial areas wrong the state.
Responding to the government’s announcement, Shola Ademuyiwa, a Lagos resident, told Legit.ng that Lagosians would greatly admit the instauration of this policy.
He said:
"I retrieve the authorities has had plans for this argumentation since Babatunde Fashola’s tenure arsenic governor, and galore of america hoped it would beryllium introduced earlier his medication ended.If this existent medication successfully implements it, it volition beryllium highly commendable, arsenic collecting a ample lump sum for yearly rent tin beryllium precise challenging for residents. This inaugural would importantly easiness the fiscal load that tenants successful Lagos often experience."Ademuyiwa further suggested that the authorities should code the contented of exorbitant rent charges imposed by landlords connected tenants.
Source: Getty Images
Government targets landlords implicit inflated rent charges
Earlier, Legit.ng reported that the Lagos State Government plans to enforce sanctions connected homeowners who are recovered to beryllium demanding unreasonably precocious rents for their properties.
Moruf Akinderu-Fatai affirmed the government’s committedness to tackling complaints from galore residents successful authorities lodging estates concerning unfair rental practices by definite landlords.
He besides stressed that allocations would beryllium withdrawn from offenders caught engaging successful these exploitative activities.
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Source: Legit.ng
