Lagos State Government has officially announced cancellation of the 2018 Land Use Charge and reverted to pre-2018 rates.
Recall that administration of former Governor Akinwunmi Ambode had repealed the initial Land Use Charge law replacing it with amended copy.
The state Commissioner for Finance, Dr. Rabiu Olowo and his Information and Strategy counterpart, Mr. Gbenga Omotoso, on Wednesday, announced this at a media briefing in Alausa, Ikeja.
The government also announced waiver for penalties on land use charge for 2017, 2018 and 2019, which Olowo estimated to a loss of revenue totalling N5.6 billion.
More to come later…