The Lagos State government has declared that it will enforce monthly rental payments.
Barakat Odunuga-Bakare, the Special Adviser to Governor Babajide Sanwo-Olu on Housing, shared the news about the upcoming monthly rental system.
Set to be implemented by the end of 2024 or early next year, the initiative aims to transform the way rent is collected in Lagos State.
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.
Reassuring residents of the State, Barakat said that the N5billion allocated for the monthly rental plan remains untouched.
She further explained that the slow start is a sign of the government’s dedication to perfect the system, emphasizing that the initiative is progressing steadily despite the challenges.
The overall goal, she said, 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.”
