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Finance | Property & Real Estate

Stakeholders tasks LSHA on a people-oriented Land Use Charge 2018 Amendment

Mar 28, 2018   •   by   •   Source: Proshare   •   eye-icon 6174 views

Tuesday, March 27, 2018 7.00PM / Proshare WebTV 

Stakeholders, a cross-section of professional bodies and several individuals have tasked the Lagos State House of Assembly to ensure a people-oriented Land Use Charge Law 2018 Amendment. 

This was the outcome of the one-day public hearing of the House on the recent Land Use Charge Law with its attendant charges, that has  elicited protests and concerns across the state in the last 2 weeks. 

The Speaker of the Lagos House of the Assembly Rt.Hon Mudashiru Obasa in his opening remarks said with a rising population, the State needs progressive laws that will move it forward. 

He believed that the dialogue was an opportunity to engage the general public, on the issues around the law and gain their views, observations and inputs to make it broad-based. 

Chairman of the House Committee on the Land Use Charge Hon. Bayo Osinowo (representing Kosofe 1, Lagos) speaking at the public hearing said “We value Lagosians and cannot joke with their interests, and this is an opportunity to accommodate the position of the citizens on the Land Use Charge”. 

The Chairmen of the Nigerian Bar Association (Ikeja and Lagos Chapters) Barrister Adesina Ogunlana and Barrister Chukwuka Ikwuazom respectively in their presentations noted that they received the Land Use Charge document late, and will need quality time to explore it, consult their members and make a robust presentation/memorandum and position on the Law. 

Giving the position of the Lekki Estate Residents Association, the Chairman Olorogun James Ewadoye called for Land Use Charge to be reverted to the old rates and the expansion of the collection base of the LUC in the state. 

Mr Thompson Akpabio from the Organized Private Sector, harped on the need for the Lagos State Government to avoid confiscating properties, exempt vacant properties from the Land Use Charge and stressed that professional bodies should do the assessment of the properties every 5 years. 

Senior Lawyer in the state Barrister Onyekachi Ubani raised the need for the House of Assembly to clarify the issues around who determines the “Market Value” of properties in the Land Use Charge. 

Commissioner of Finance Mr Akinyemi Ashade, FCA reiterated said the “Market Value” provision in the Land Use Charge, remains the best option for guaranteeing transparency, uniformity and consistency. 

The State House of Assembly Committee on the Land Use Charge, has two weeks to look into the recommendations, inputs and submissions on the Land Use Charge.

 Proshare Nigeria Pvt. Ltd.

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