LAND USE CHARGE: REAL ESTATE SECTOR STAKEHOLDERS HAIL 50% REDUCTION BY LSG

Published

7 years ago

March 18, 2018

Sahara Weekly

Mr. Olurogba Orinmalade, Chairman (Lagos State Chapter) of The Nigeria

Institution of Estate Surveyors and Valuers (NIESV), on Thursday, March

16, 2018, in Lagos hailed Governor Ambode’s gesture in slashing the new

Land Use Charge for Commercial properties by 50%. At a stakeholders

meeting held at The Protea Hotels, GRA, Ikeja, Lagos, Mr. Orimalade

described the Ambode led government as a listening government and

pledged his association’s support for the new law and all other

progressive decisions of the government going forward. In his words, “we

are committed to working with the present Lagos State administration to

make the new law succeed and we have already set up a technical

committee to come up in ten days, with directions, recommendations and

position of the Institution on the law in order to collaborate with the

government for a better society.

Arc. Ifeoma George, Vice President Nigeria Institute of Architects, said

at the meeting that “this is a listening government and propose that

stakeholders should continue to be carried along in all government

dealings, going forward “. The event was a meeting with professionals in

the real estate sector.

The commissioner for Finance, Lagos State, Mr. Akinyemi Ashade, took the

opportunity to further enumerate other reliefs entailed in the amended

Land Use Charge Law. He emphasized that the state government was opened

to further discussions on how to solve the challenges plaguing

infrastructural financing and investments in Lagos State. He also

mentioned that there will be no penalty for late payment in this 2018

regime as earlier stipulated. Furthermore, the amended Land Use Charge

Law is a property tax that consolidates the tenement rate, Neighbourhood

Improvement rate, and Ground rent.

Outside of the commercial properties, properties occupied by owners and

third party used for commercial purposes will get a further 25%

discount, while a wholly owner-occupied property will get an additional

15% discount as graciously pronounced by the government. In addition to

these, all the other reliefs enumerated at the inception of the amended

law remains valid. These include 40% general relief across board,

meaning that whatever is the value of the property, 40% will be deducted

and the charge will only be calculated on the remaining 60%. For elder

citizens above 70years old, there is an additional 10% discount. For

those living with any form of disability, there is also 10% discount

while properties that are 25 years old and above will also enjoy another

10% discount. Above all, payments can be staggered across the year to

soothe the economic convenience of the payer.

The Commissioner also emphasized that self-assessment of property will

be encouraged to help individuals calculate their charges appropriately.

They are allowed to use their independent Estate Valuers to assess their

property and bring such discrepancies up to the government for

reconciliation. The state government according to Mr. Ashade, the

Commissioner for Finance, is opened to discussions and ever willing and

ready to dialogue on the Land Use Charge Law or any other government

policy for that matter.

Everyone present at the meeting agreed and fully appreciated the

unparalleled efforts of the state government in turning around the

infrastructural fortunes of the state. They pledged their loyalty and

support to the government’s efforts towards the Lagos Mega City Drive.

To buttress this point, members of the Estate Agents Association

present, pledged to partner with the state government in advising the

landlords to speedily pay Land Use Charge.

The stakeholders meeting had in attendance professional associations and

bodies like Nigeria Institution of Estate Surveyors and Valuers (NIESV),

Faculty of Estate Agency and Auctioneering, International Real Estate

Federation, Nigerian Institute of Architects, Association of Builders &

Property Developers, and Association of Town Planners and Estate Agents

of Nigeria

Related Topics:landuse charge Real estate

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Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi ~Oluwaseun Fabiyi

Published

8 hours ago

November 15, 2024

Sahara Weekly

Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi
~Oluwaseun Fabiyi

On this momentous occasion, I am thrilled to honor my beloved sister, Falake, a paragon of kindness and industriousness, on her birthday, today, Friday ayaba Fabiyi Supo, 15th November 2024. Ma, the divine benevolence of God Almighty has bestowed upon you another year of life, replete with promise and opportunity.

It is also an opportune moment to reflect on your blessings and methodically enumerate them, thereby acknowledging the remarkable accomplishments of God in your life

As you commemorate another year of existence today, may the Supreme Being graciously continue to endow your life with success, benevolence, and unwavering favour, and henceforth, every utterance and account regarding you and your household shall be replete with good tidings

I fervently pray that God’s divine guidance and favor will continually be upon you, and may He graciously bestow His kindness upon you now and forever. Please accept my warmest congratulations and sincere best wishes

To my dearest Mummy Precious, I offer my warmest felicitations and hope your birthday celebration is exceptionally eventful.

Oluwaseun Fabiyi a seasoned Journalist writes from Lagos

society

JUST IN: Supreme Court dismisses Govs’ suit against EFCC legitimacy

Published

10 hours ago

November 15, 2024

Sahara Weekly

JUST IN: Supreme Court dismisses Govs’ suit against EFCC legitimacy

The Supreme Court has dismissed a suit filed by state governors challenging the legality of the Economic and Financial Crimes Commission (EFCC) Act and two other anti-corruption agencies.

The court ruled that the suit before it lacked merit, affirming the legality of the EFCC’s establishment and the two other anti-corruption agencies.

More details coming

society

The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.

Published

17 hours ago

November 15, 2024

Sahara Weekly

The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.

…. Obedience is the Solution to Limitations

If somebody can start it, somebody can end it, obeying instructions can change any evil patterns in the life of people, pattern of sickness, Poverty, Late marriage and what have you, when you obey instructions you will breakout of the Limitations in your father’s house.

This was the case study at the day 2 of the ongoing The Limit Breaker Conference in Freetown Sierre Leone where over 2 million faithful received Prophetic Blessings from the servant of God, The Generational Prophet of God.

Teaching on the Topic, Breaking out from the Limitations of my Father’s House Part 2, The Convener Chris Okafor world outreach Ministry COWOM and Senior Pastor Grace Nation Global Dr Chris Okafor continue on the highlights said when you obey instructions, you are prone to be free from any bondage of your father’s house.

The Generational Prophet of God also remarked that , it is not that the devil is powerful but because of the lack of Knowledge of the People, he said ignorance is a licence to bondage therefore obedience is majorly the solution to ancestral Limitations, when you obey instructions the spirit that brings liberty locate you and you will be free from bondage and every spirit of Limitations from you father’s house, you will be free from it.

It was another Powerful and Prophetic movement of God at the Conference, God uses his servant the Generational Prophet of God Dr Chris Okafor to do what he knows how to do best, Addressing Various issues, calling Names, Names of villages, while Every evil altars holding people inheritance exposed, Profiling solution to every case file brought to the conference, it was indeed a life changing Prophetic encounter in the life of the good people of Sierre Leone, the testimonies that will come after the three days prophetic encounter will be enormous and according to a participant who will not want her name mention.

The conference continues on Friday 15th November 2024 ,Same Time and Venue