Lagos, Nigeria
Barakat Odunuga-Bakare, special adviser to the Lagos State Governor on housing, says the monthly rental policy of the state government will be enforced before the end of 2024 or early next year.
Odunuga-Bakare disclosed this during a recent press briefing of the Lagos State Real Estate Regulatory Authority in Ikeja, Lagos, according to The Punch.
“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. Also, the rental would be charged according to tenants’ earnings,” she said.
“The good part about it is that we would be test-running it first within the public sector since we can ascertain how much everybody is earning, and once we see that it works in the public sector, we can now push it out to the private sector.”
The governor’s adviser also said that the state government has set aside N5bn for the monthly rental scheme.
She further disclosed that the scheme was slow to take off because the Lagos State Government was still trying to perfect one thing or the other.
“The last administration that initiated the monthly rental scheme was coming to an end when the scheme was to be introduced. Now, we have a new administration and the governor wants the scheme to come into effect by the end of this year or early next year.”
