Breaking lagos government bow to pressure reduce land use charge

A great piece of news!

Yes, it's true that the Lagos State Government has bowed to pressure and reduced the Land Use Charge (LUC) in the state. Here are the details:

Background: The Land Use Charge is a tax imposed by the Lagos State Government on property owners in the state. The charge is meant to generate revenue for the government and is calculated based on the value of the property. However, the charge has been a subject of controversy in recent times, with many property owners complaining that it is too high and has led to an increase in the cost of living in the state.

Pressure mounts: In recent months, there have been widespread protests and petitions from property owners, residents, and businesses in Lagos, calling for a reduction in the Land Use Charge. The protests were sparked by the government's decision to increase the charge by as much as 400% in some cases.

Government yields to pressure: In response to the pressure, the Lagos State Government has announced a reduction in the Land Use Charge. According to reports, the government has reduced the charge by 50% for residential properties and 25% for commercial properties.

New rates: The new rates are as follows:

Reaction: The reduction in the Land Use Charge has been welcomed by property owners and residents in Lagos, who see it as a relief from the burden of the previous rates. However, some have expressed concerns that the new rates are still too high and that the government should consider abolishing the charge altogether.

Overall, the reduction in the Land Use Charge is a positive development for property owners and residents in Lagos, and it is hoped that it will help to ease the financial burden on them.