BREAKING: Massive Jubilation Across Lagos State As Governor Ambode Finally Bows To Pressure, Takes Major Critical Step Ahead of 2019

By Amako Nneji March 15, 2018 14:02

BREAKING: Massive Jubilation Across Lagos State As Governor Ambode Finally Bows To Pressure, Takes Major Critical Step Ahead of 2019

Governor Akinwunmi Ambode of Lagos State  has finally reduced the highly condemned increment of the State’s Land Use Charge.

Post-Nigeria recalls that the State Government had increased the rates for property solely occupied by the owner for the residential purpose, at the rate of 0.076 percent per annum.

Property occupied by the owner and tenant(s) or third parties at 0.256 percent per annum, and investment property fully occupied by tenants or a third party(ies) for revenue generation at 0.76 percent per annum.

It also threatened to penalise those who do not make payment after receiving notice. Failure to pay between 45 and 75 days attracted a 50 percent increase; after 105 days, a 100 percent increase.

However, on Thursday, at a Press Conference in Ikeja, the Governor through his State Commissioner of Finance, Akinyemi Ashade, said commercial property owners would get 50 percent discount. Owner-occupier 25 percent, while there would be waiver for late payment and tax credit for those who are prompt in payment.

 

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