The Lagos State Government has insisted on launching the planned monthly rental scheme.
Commissioner for Housing, Moruf Akinderu-Fatai, reiterated this on Thursday, during a Ministerial Briefing marking the first anniversary of Governor Babajide Sanwo-Olu’s second term.
Akinderu-Fatai acknowledged the delays but stressed that the government is going ahead with the pilot phase.
“Although there are several factors impeding the take-off of this initiative, I want to use this medium to reaffirm that plans are being perfected to effect the pilot phase of this initiative,” Akinderu-Fatai said.
He admitted that access to affordable financing has remained an obstacle, especially for low-income households in Lagos State.
He said this in turn has led to social and economic problems such as poverty and poor health.
However, he noted that the issue of affordable housing is a global challenge, saying housing prices and rents are rising globally.
He added that the rapidly increasing population, coupled with a limited land area of 3,577 km², a third of which is covered by water, further restricts housing development in the state.
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He expressed confidence that affordable housing in Lagos is achievable but requires bold and resilient strategies.
In March, Barakat Odunuga-Bakare, the Special Adviser to Governor Babajide Sanwo-Olu on Housing, had said the monthly rental policy idea is in line with global best practice.
She explained that in other countries, tenants do not pay rents in advance as it is the practice in Lagos and other Nigerian cities.
“We all see what is being done in other climes; rents are collected monthly. Hence, we are looking and hoping that before the end of the year, or by early next year, we will be able to implement the policy of monthly rental.”
She added that the rental would be charged according to tenants’ earnings.
