TheCable

The Lagos state government has revoked the 2018 land use charge.

Speaking at a press conference on Wednesday, Rabiu Olowo, commissioner for finance, said the government is reverting to pre-2018 land use charges.

Olowo also said the government has waived the land use charges for 2017, 2018 and 2019.

Akinwumi Ambode, immediate past governor of the state, announced a review of the land use charge in 2018 — increasing the charge on a property solely occupied by the owner for residential purpose to 0.076 percent per annum from 0.0394 percent.

The rate for an investment property fully occupied by tenants or third party(ies) was increased from 0.394 percent per annum to 0.76 percent.

But after opposition from various quarters, the rate for commercial properties was reduced by 50 percent and 25 percent for owner-occupiers.