The Lagos State government has announced its intention to enforce monthly rental payments, aiming to revolutionize the rent collection process in the city.
During a recent press briefing, Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, shared details about the upcoming monthly rental system.
Scheduled to be implemented by the end of 2024 or early next year, this initiative seeks to align Lagos with other countries where rent is collected on a regular basis.
Barakat highlighted the plan’s focus on fairness and adaptability, with monthly leasing rates tailored to tenants’ incomes.
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The initial phase will involve a trial within the public sector before extending to private rentals.Addressing concerns about the progress of the initiative, Barakat reassured the public that the allocated N5 billion for the monthly rental plan remains intact.
She explained that the cautious approach reflects the government’s commitment to ensuring a smooth and efficient rollout, despite encountering challenges along the way. Ultimately, the government’s aim is to bring about positive changes in the housing sector across Lagos.
Barakat further emphasized the importance of continuity in government efforts, noting, “The previous administration laid the groundwork for the monthly leasing program, and now, under the new leadership, we are eager to see it come to fruition by the end of the year or early next year.”
