Lagos State has disclosed plans to launch a new digital platform for monthly rent payments to make things easier for residents.
They’re hoping this will rake in about ₦2.5 billion a year from around 100,000 users. The platform will be a joint project with agencies like the Ministry of Housing and tech partners.
Lagos has been hit with complaints about skyrocketing rent, with prices soaring over 100% in the past four years.
The state government says the platform will tackle those issues by offering a clear and efficient way to handle rent, which could help ease the financial strain on residents.
The state’s putting about ₦300 million into the project over the next 4 to 6 months for development, operations, and promotion.
This move comes after the Commissioner for Housing, Moruf Akindeli-Fatai, pointed out the struggles with affordable housing in Lagos, thanks to its rapid population growth and limited land.
On top of the new platform, the government’s also cracking down on landlords who are charging outrageous rents.
Akindeli-Fatai has warned homeowners against unreasonable rent increases and said the government will take action against those who do. There have been a lot of complaints about high rents lately, so the state is stepping in to ensure things are fair.
Overall, this new initiative is part of Lagos’s effort to tackle the rent crisis and make it easier for residents to manage their payments. With the rising cost of living, this platform could offer some much-needed relief and transparency for Lagosians.
