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Breaking : Sanwo-Olu, Promises to Enforce Monthly Rental Scheme Policy Before End of the Year
The Special Adviser to Lagos State Governor on Housing, Barakat Odunuga-Bakare, has disclosed that the state’s monthly rental scheme will be enforced before the end of 2024 or early next year.
She stated it during a recent press briefing of the Lagos State Real Estate Regulatory Authority 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 reiterated that the N5bn allocated for the monthly rental scheme was still set aside and untouched.
She added that the fact that the scheme was slow to take off showed that the Lagos State Government was still trying to perfect one thing or the other.
She noted, “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.”
Recall that in 2021, the Governor of Lagos State, Babajide Sanwo-Olu, had said the current rental model in which people pay yearly rent in advance to property owners has become inadequate to address contemporary realities in the housing sector, especially in cities where demand for property is high and expensive.
Sanwo-Olu advocated rental policy
The governor advocated a monthly rental system, which he said would be affordable to low- and middle-income earners pressured by the yearly rent obligation.
Sanwo-Olu made the recommendation at the 10th meeting of the National Council on Lands, Housing and Urban Development held in Lagos recently.
He urged policymakers to consider the suggestion and initiate a regulatory framework that would aid the transition to a new rental system.
The governor said Lagos was already working out monthly rent modalities to accommodate residents not keen on the state’s homeownership scheme.
He said, “In Lagos, we operate a very robust rent-to-own programme of five per cent down payment and six per cent simple interest rate payable over 10 years. We are working on another product, which is a purely rental system, where residents will pay monthly.”
The then Minister of Works and Housing, Babatunde Fashola, corroborated Sanwo-Olu’s position, stressing that the yearly rental system had created inequality in the housing supply and widened the affordability gap for low-income earners.
Nigeria’s D’Tigress have once again etched their name into the history books, emerging as champions of the 2025 FIBA Women’s Afrobasket in Côte d’Ivoire after a commanding 78-64 victory over Mali in Sunday’s final.
Led by head coach Rena Wakama, the Nigerian side delivered a stellar performance at the Palais des Sports de Treichville in Abidjan to secure their fifth straight continental crown — a feat no other nation has achieved in the tournament’s history.
The win also guarantees D’Tigress an automatic berth at the 2026 FIBA Women’s World Cup in Berlin, Germany.
Having edged past a tough Senegalese team in a dramatic semi-final, where they rallied in the fourth quarter to secure a hard-fought win, D’Tigress showed a different level of composure and dominance in the final against Mali.
Mali came out strong, finishing the first quarter with a 26-21 lead. But Nigeria responded swiftly, leveling the game 41-41 by halftime.
The third quarter saw D’Tigress turn on the style, as they pulled ahead 61-56. By the final quarter, the Nigerian side tightened their defense and restricted Mali to just eight points, cruising to a 14-point triumph.
With this latest victory, Nigeria has now lifted the Women’s Afrobasket trophy seven times in total — 2003, 2005, 2017, 2019, 2021, 2023, and 2025 — and remain unbeaten in the competition for a decade. The team’s last loss in the tournament dates back to October 2, 2015, against hosts Cameroon.
This fifth consecutive title reaffirms D’Tigress’ status as the undisputed queens of African women’s basketball.
President Bola Tinubu has bestowed the national honour of Officer of the Order of the Niger, on the Super Falcons and the entire technical crew.
He also allocated three-bedroom apartments in Abuja to each of the players and the technical crew at the Renewed Hope Estate.
The President also directed the cash award of the naira equivalent of $100,000 each of the 24 players and $50,000 to each of the 11-man technical crew.
This came during a reception in honour of the players and the coaching crew at the Presidential Villa, Abuja.
He said, “I hereby conferred on the players, the 11 man technical team with national honours of the Officer of the Order of the Niger.
“Additionally, I have I directed the allocation of three bedroom apartments in the Renewed Hope Housing Scheme.
“Then there is the cash award of the naira equivalent of $100,000 US dollars each 24 players and the naira equivalent of $50,000 to the 11-man technical crew.”
The President also said he didn’t want to watch the WAFCON final because he didn’t want to have high blood pressure.
Earlier, the President and the First Lady, Senator Oluremi Tinubu, received the Super Falcons at the Presidential Villa on Monday, following their record victory at the 2025 Women’s Africa Cup of Nations in Morocco on Saturday.
The coaster buses conveying the players and coaching crew arrived at the forecourt of the Aso Rock shortly before 04:36 p.m. local time.
The Super Falcons, 10-time African champions after their 3-2 comeback over the Atlas Lionesses Morocco, were received by the President’s Chief of Staff, Femi Gbajabiamila, upon their arrival.
In a post-match video call on Saturday night, President Tinubu praised captain and tournament MVP Rasheedat Ajibade.
He also praised Nigeria’s rally from a 2-0 half-time deficit to claim the WAFCON title.
Over the past decade, the Super Falcons have won four Women’s Africa Cup of Nations titles in 2014, 2016, 2018, and 2024, bringing their total to 10
The Super Falcons emerged champions of the 2024 Women’s Africa Cup of Nations (WAFCON) after pulling off a stunning second-half comeback to defeat hosts Morocco in a pulsating final.
The Moroccans had taken a 2-0 lead in the first half, capitalizing on early momentum and a roaring home crowd at the Prince Moulay Abdellah Stadium in Rabat.
But the Nigerians, showing the grit and pedigree that has made them the most successful team in the tournament’s history, roared back after the break.
WAFCON final: Oramah FC chairman pledges ₦500,000 per goal to Super Falcons
First Lady rallies Super Falcons to victory in WAFCON final
A spirited second-half display saw the Super Falcons flip the script in dramatic fashion, scoring twice to silence the home fans and reclaim the continental crown.
With this victory, Nigeria completes the 10th WAFCON title
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