The Lagos State government has reiterated its commitment to launching the monthly rental scheme.

The state’s Commissioner for Housing, Moruf Akinderu-Fatai, restated this on Thursday at a ministerial briefing to commemorate the first year of Governor Babajide Sanwo-Olu’s second term in office.

He acknowledged the delays but emphasised that the government was still moving forward with the pilot phase.

Mr Akinderu-Fatai said, “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.”

The special adviser to the governor on housing, Barakat Odunuga-Bakare, had in March disclosed that the state’s monthly rental scheme will be enforced before the end of the year or early 2025.

The scheme aims to shift the current system of paying rent annually to a monthly payment system.

Mr Akinderu-Fatai recognised that access to affordable financing had remained a hurdle, particularly for low-income households in Lagos State.

He said the lack of proper housing had led to social and economic problems like poverty and poor health.

The commissioner noted that the trend was not unique to Lagos, saying housing prices and rents are rising globally.

Describing Lagos as the epicentre of Nigeria’s urbanisation, he said the state’s ever-growing population was put at an annual growth rate of 3.34 per cent, with 90 people coming in every hour to live there.

“This coupled with a limited land area of 3,577km2, a third being water, further limiting housing development,” Mr Akinderu-Fatai said.

He believed affordable housing was achievable but would require bold and resilient strategies to address the challenges.

The commissioner, therefore, called on parties involved in housing development to work together to find solutions.

(NAN)