The Lagos State Government is set to launch a new digital platform designed to facilitate monthly rent payments for tenants. This initiative comes as a response to the growing challenges of affordable housing amid rapid population growth and limited land availability in Lagos.

State Commissioner for Housing, Moruf Akinderu-Fatai, has expressed concerns about the escalating rent prices and warned homeowners against unreasonable increases. He assured that the government would take action against those engaging in unfair practices, stating, “There have been a lot of complaints about high rents lately, so the state is stepping in to ensure things are fair.”

Permanent Secretary of the Ministry of Housing, Engr. Abdulhafeez Toriola, confirmed the development and provided additional details. The digital platform, which is currently in development, will involve collaboration with various agencies, including the Ministry of Housing and technical partners. The project aims to address the soaring rent prices, which have reportedly increased by over 100% in the past four years.

The new platform is projected to generate approximately ₦2.5 billion annually from around 100,000 users. Toriola emphasized that the platform will offer a clear and efficient method for managing rent payments, potentially alleviating some of the financial burdens on residents. He added, “The idea behind the initiative is to tackle those issues by offering a clear and efficient way to handle rent, which could help ease the financial strain on residents.”

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In addition to the platform, the Lagos State Government is intensifying efforts to address the rent crisis by cracking down on landlords who impose excessive rents. The government has committed significant resources to the project, with millions of naira allocated for development, operations, and promotion over the next four to six months.

Overall, this new initiative is part of Lagos’s broader effort to make housing more accessible and manageable for its residents, providing much-needed relief and transparency in the rental market.