Lagos maintains to enforce monthly rental policy
Barakat Odunuga-Bakare, the Special Advisor on Housing to the Lagos State Governor, has revealed that the state's monthly rental programme will put into effect either early in 2025 or before the end of 2024.
She said this at the Lagos State Real Estate Regulatory Authority's press conference held recently in Ikeja, Lagos.
She said, “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.
“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.”
Odunuga-Bakare reaffirmed that the N5 billion put aside for the monthly rental programme remained untouchable.
She continued by saying that the Lagos State Government was still attempting to perfect something because of the scheme's slow start-up.
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