Gist Arena

T he Lagos state government has just announced the figures of the recently reduced Land Use Charge. The state government a few hours ago, announced that it has resolved to reduce the land use fee after so many pressure arising from the publics and stakeholders. The reviewed land fee has it that payment of LUC can be done installmentally claiming it would relieve house owners the burden of paying the amount once. The state government announced 50% discount for commercial property owners while private property owners and ones used for industrial activities were given 25% increase. “Commercial Property Owner, who are undoubtedly the stakeholders mostly impacted by this amended Law will be granted 50% discount. This means a commercial property valued at N20M which was earlier billed N91,200.00 will now pay N45,600.00 per annum.” “Property Occupied by Owner and Third Party & Property Used for Industrial and Manufacturing Purposes: These categories of property ...

T he Senate has resolved to write the Chief Justice of the Federation, Justice Walter Onnoghen, to expressed their reservations about the judgment by a Federal High Court stopping the National Assembly from overriding President Muhammadu Buhari’s veto on the amended Electoral Act. The Minority Leader, Senator Godswill Akpabio, moved a motion at the plenary on Thursday to state that the judgment amounted to “an abuse of the principle of separation of powers.” He prayed that the Senate writes the CJN on the matter, which was unanimously granted.

T he administration of Akinwunmi Ambode, governor of Lagos state, has reduced the rates of the land use charge. The government had reviewed the rates upward, charging property solely occupied by the owner for 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; while investment property fully occupied by tenants or 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 50 percent increase; after 105 days, a 100 percent increase. The law prescribed that a property shall be liable to enforcement if payment is not made after 135 days of notice. But at a press conference in Alausa, Ikeja, on Thursday, Akinyemi Ashade, commissioner of finance, said commercial property owners would get 50 percent discount. Owner-occupier 25 percent, w...