The Lagos state government has canceled the 2018 land use charge.
The state Commissioner for Finance, Rabiu Olowo, announced this at a press briefing which held today, August 5. He said the govt. is additionally reverting to pre-2018 land use charges. Olowo added that the state government has decided to waive the land use charges for 2017, 2018, and 2019 which is totaled at N5.6 billion.
Recall that in 2018, the immediate past governor of the state, Akinwumi Ambode, increased the charge on a property solely occupied by the owner for residential purpose to 0.076 percent each year from 0.0394 percent. the speed for an investment property fully occupied by tenants or third party(ies) was increased from 0.394 percent once a year to 0.76 percent. However, after many residents opposed the increment, the speed for commercial properties was reduced by 50 percent and 25 percent for owner-occupiers.
Today, the authorities said the state are reverting to the old land use charges before Ambode increased it.