News

Lagos plans digital platform for monthly rent payment

Lagos plans digital platform for monthly rent payment

The Lagos state government has unveiled plans to build a digital rental platform for monthly rent payments by residents of the state.  

The state government disclosed this in a document titled EKO Revenue Plus Summit, themed “Unlocking New Revenue Streams for Lagos State” where the state planned to raise N2.5 billion per annum from an estimated 100,000 subscriptions annually.  

According to the report, the digital platform will be co-owned by the Lagos state government through agencies such as the Lagos State Ministry of Housing and other MDAs in the state as technical partners. 

READ ALSO:

t states, “Lagos Rent Payment Platform- A digitized monthly payment platform co-owned by LASG to activate payment of monthly rents. Income is from transaction fees of an estimated 100,000 transactions monthly @ 5% Transaction Fees are estimated at N2.5b p/a” 

The state government’s document also stated that it will invest around N300 million in building the digital platform, operations, marketing, and promotions in the next 4 to 6 months.  

The document’s disclosure follows a similar statement by the state’s commissioner of Housing, Mr. Moruf Akindeli-Fatai where haffirmed its commitment to launching the monthly rental scheme and acknowledged that access to affordable financing remains a significant challenge, especially for low-income households in Lagos State. However, he noted that affordable housing is a global challenge, with rising prices and rents worldwide. 

Lagos plans digital platform for monthly rent payment

Trends Admin

Recent Posts

US University opens 2025 scholarships for international students

US University opens 2025 scholarships for international students Montana Technological University (Montana Tech) has opened…

9 hours ago

200,000 repentant terrorists surrender, drop arms in North East – CDS

200,000 repentant terrorists surrender, drop arms in North East – CDS The Chief of Defence…

10 hours ago

Canadian university offers funded national scholarship program for 2025

Canadian university offers funded national scholarship program for 2025 Western University has announced that applications…

10 hours ago

Israeli strikes pound central Beirut, suburbs

Israeli strikes pound central Beirut, suburbs BEIRUT: Israeli strikes pounded a densely-populated part of the Lebanese…

10 hours ago

Robbers kill two members in shoot-out with Delta police

Robbers kill two members in shoot-out with Delta police The spokesperson for the police in Delta…

11 hours ago

Akwa Ibom businessman abducted, driver killed, police orderly injured

Akwa Ibom businessman abducted, driver killed, police orderly injured Gunmen kidnapped a prominent businessman, Dr. Samuel…

11 hours ago