Abuja – March 25, 2024 – Viewpoint Housing News.
The Lagos state government has concluded plans to introduce and implement a monthly rental policy. This, the government said, is part of efforts to help ease the current hardship on residents of the state, the government said that upon successful implementation, the policy will then be extended to the private sector.
Barakat Odunuga-Bakare, the Special Adviser to the Governor of Lagos State on Housing, has revealed that the implementation of the state’s monthly rental scheme is slated to commence either by the conclusion of 2024 or in the early months of next year.
She mentioned that the government plans to pilot the policy initially within the public sector, leveraging its ability to accurately assess individuals’ income levels. The policy will be extended to the private sector after successful implementation and validation.
Odunuga-Bakare emphasized that, the allocated N5 billion for the monthly rental scheme remains reserved and untouched. She further noted that the sluggish implementation of the scheme indicates the Lagos State Government’s ongoing efforts to refine various aspects of the initiative.
