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Lagos Approves 15% Discount on Land Use Charge

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  • Lagos Approves 15% Discount on Land Use Charge

The Lagos State Government Wednesday approved 15 percent discount for all owners of properties in the state, which would pay their land use charge between now and April 14.

The state government said it would inaugurate Ajah Flyover before May 29, revealing the plan to remove three more roundabouts in Lekki-Ajah corridor to ease vehicular movement.

The state governor, Mr. Akinwunmi Ambode, disclosed the plan to remove three additional roundabouts at the State House, Alausa where he received the Managing Director of Chevron Nigeria, Mr. Jeffrey Ewing and other top management staff members of the oil giant.

Ewing visited the State House alongside the General Manager, Policy, Government and Public Affairs, Chevron Nigeria Limited, Mr. Esimaje Brikinn and General Manager, Deep Water, Chevron Nigeria Limited, Mr. Lanre Kalejaiye, among others.

However, in a statement by the Ministry of Finance yesterday, the state government said it had extended the discount window for the payment of land use charge till April 2017.

He noted that the discount window would allow Lagos residents to further enjoy the discount of 15 per cent, noting that prompt payment of land use charge would make the state excel and its residents enjoy laudable programmes.

He urged residents to desist from payment of tenement rate and ground rent as section 22 of the State Land Use Charge Law, warning that late payment or non-payment of land us charge on an annual basis “would attract accrued penalties and accumulation of arrears.”

It, also, urged all property owners in the state “to take advantage of the extended discount window and ensure payment is made on or before April 4 in order to encourage the government in the delivery of services to the general public.”

When visited by the managing director of Chevron Nigeria, Ambode disclosed the plan to remove three roundabouts along Lekki-Ajah axis from next week in order to solve the challenge of traffic congestion that had become intractable along the corridor.

He added that the action was in line with the resolve of government “to totally eliminate traffic in the axis. The affected roundabouts are Igbo Efon, Chevron and Third roundabouts.”

He explained that the state government had tried as much as possible “to improve on the business environment. The state government would continue to invest in security and infrastructure to make life comfortable for residents and investors.

“We have tried to improve services within the state. The area of operation of Chevron which is the Lekki axis is not left out. Few weeks back, we improved on the traffic management towards that axis. We believe the move would also enhance productivity of the people.”

He ascribed the resolve to remove three additional roundabouts along Lekki-Ajah axis to the impact of the elimination of the first set of roundabouts had, noting that the state government would begin eliminating three roundabouts next week.

“From next week, we will commence the elimination of additional three roundabouts in the axis most especially Chevron, Igbo Efon and Third Roundabout. We believe doing that will totally eliminate traffic in that axis and we hope to also open the Ajah Flyover before the end of May,” Ambode said.

He said the essence of any government “is to create the enabling environment for businesses to thrive,” assuring that he would continue to do his best to provide safe and sound environment.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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