Relief will soon come the way of property owners in Lagos as the State Government has said it is reverting to the pre-2018 land use charge rate.
This was disclosed by the Commissioner for Finance, Dr. Rabiu Olowo, at the 2020 Ministerial Briefing marking the first year anniversary of Governor Babajide Sanwo-Olu in office.
He said the state government had to review the increase in land use charge assessment to accommodate the agitations of Lagosians and reduce the financial pressure on citizens as it relates to land use charge.
“The reform also considered a flexible land use charge payments and efficient customer service management in other to ensure prompt issue resolution,” the commissioner said.
He said the intention of the government is to keep economic activities in the state going, without necessarily causing any untold hardship that will further aggravate the present financial hardship confronting all sectors of the state’s economy.
Olowo said among initiatives put in place in the last one year in the area of revenue optimization are: deployment of e-tax platform for tax operations and administration matters, automation of operations of Lagos Lottery Board and FORCE, conceived to monitor, review and drive innovative revenue performance whilst providing revenue assurance.
The commissioner also revealed the state achieved 106 per cent performance in first quarter of year2020 revenue as against budget.
“The direct impact of the pandemic is a drop in the state’s IGR and Federal Allocation which also results in decline of Foreign Direct Investment (FDI) and increased pressure on income and purchasing power of Lagosians,” Olowo said.
