One of the major criticisms against the Lagos state government has been the prohibitive costs of owning a home. These costs start all the way from purchasing land with restrictive land use charges and crippling penalties when homeowners are unable to pay their land use charges. Added to this, the recent increases in Land use charges in Lagos state, many have wondered if the Lagos state really cares about its mandate to become a megacity. In 2018, former governor Akinwunmi Ambode introduced even stricter land use charges. that were protested by citizens, landlords and tenants, who all felt this would increase pressure on the already overburdened real estate industry. It seems governor Babajide Sanwoolu is listening because he has just repealed the Land Use charge Act of 2018 and waived the penalties that accrued for default since the Act was introduced in 2018.
The commissioner for finance Dr. Rabiu Olowo made announcements on this on behalf of the governor, explaining that the Owner-Occupied Residential Property charged at 0.076 per cent, was now 0.0394 per cent, while Industrial Premises of Manufacturing Concerns, which was 0.256per cent, would be charged at 0.132 per cent and Residential Property/Private School (Owner & 3rd Party) charged at 0.256 per cent had been reduced to 0.132 per cent.
Edwin Okolo is an author and journalist who has worked with YNaija, TheNativemag and the Naked Convos.