News
Just In: Ambode Bows as Land Use Charge is Reduced
…Grants 50% Reduction On Commercial Charges, 25% For Owner-Occupier, Manufacturing Concerns
… Gives Tax Credit For Payment Already Made, Introduces Instalment Payment Plan
Following extensive deliberations with stakeholders on the new rates payable by property owners under the Lagos State Land Use Charge (LUC) Law, the State Government on Thursday announced a major reduction in the rates and as well waived the penalty for late payments across board.
The State’s Commissioner for Finance, Mr Akinyemi Ashade, who disclosed this while addressing a press briefing at the Bagauda Kaltho Press Centre in Alausa on the outcome of dialogue with stakeholders, said the rates payable on commercial properties have been reduced by 50 per cent in response to the demands of the people.
He said the government has also reduced the charges for Owner-occupier with third party including industries and manufacturing concerns by 25 per cent, while tax credits has been given for LUC charges already paid in addition to introduction of instalment payment system.
Ashade, who addressed the briefing alongside dozens of Executive Council members and top government functionaries, said the decision to reduce the rates was taken at the weekly Council Meeting held on Wednesday and Chaired by the State Governor, Mr Akinwunmi Ambode.
He said: “The Lagos State Government, in its desire to build world class infrastructure and improve the well-being of its citizens reviewed the Land Use Charges payable by all property owners. This exercise was received with mixed feelings by various interest groups who expressed serious concerns.
“In line with this administration’s tradition of inclusive governance and civic engagement, and as a Government that is committed to the welfare of its citizens and understands the importance of continuously engaging the populace, we undertook extensive dialogue with various stakeholders on the Land Use Charge (“LUC”) revised Law and its implementation.
“Consequently, we received a wide range of responses from our dialogue with various stakeholders on the amended LUC Law 2018. The stakeholders included the Organised Private Sector, Nigeria Bar Association, Real estate investors & developers, Landlord & Resident Associations, Community Development Associations, Civil Society Organisations, Lagos Chamber of Commerce and Industries (LCCI), Nigeria Institute of Estate Surveyors &Valuers and several other professional groups.”
Giving a breakdown of the reduction, Ashade said for commercial property owners who were mostly affected by the amended law, a property valued at N20million for instance which was earlier billed N91,200 will now pay N45,600 per annum as a result of the 50 per cent discount, while property occupied by owner, third party and property used for industrial and manufacturing purposes will now pay N23,040 per annum on a property valued at N20million as against the earlier N30,720 based on the 25 per cent discount.
On owner-occupied property, the Commissioner explained that for a property valued at N20million, only N7,752 will now be paid per annum as against N9,120 earlier demanded based on 15 per cent discount.
He added: “Other rates and reliefs, apart from the ones stated above, will remain unchanged and will be implemented as stipulated by the Law. These include 40% general relief, 10% for 70 years and above, 10% for properties owned by persons living with disability and 10% for properties that are 25 years old and so on and so forth. Owners of Property across all categories will now be allowed to make payments by instalments. This will help to reduce the burden of taxation on our citizens.
“We appreciate and commend property owners of all categories who have performed their civic duties faithfully by paying the LUC. Consequently, as a result of these new measures, those who have paid the original amount will be awarded tax credits to the extent of the excess amount paid and carried forward to next year,” Ashade said.
He added that in a bid to create a framework to empower property owners with self-assessment, the executive would forward a regulation to the House of Assembly for review of applicable rates and regime of reliefs on categories of properties pursuant to LUC Law.
While appreciating stakeholders for trusting the current administration with the responsibility of investing the revenue from LUC in infrastructure renewal and overall development of the State, Ashade urged them to endeavor to participate effectively in the legislative proceedings going forward.
Besides, the Commissioner said the reduction would be implemented immediately as there were provisions within the LUC law which empowered the government to carry out necessary adjustment to cushion the effect of implementation.
Also, Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem said under the amended law, there is provision for establishment of five tribunals out of which one has been created in Ikeja and now operational, while the remaining four would be established in other administrative divisions of the State in Epe, Badagry, Ikorodu and Lagos Island.
He said the law also makes provision for aggrieved tax payers to ventilate their grievances within forty-five days through a mediation process, adding that so far over 80 cases have been resolved through mediation.
The Duke and Duchess of Sussex came into Nigeria for a private visit following an invitation by the Chief of Defence Staff, Gen. Christopher Musa.
The Director of Sports, Defence Headquarters, DHQ, Air Vice Marshal Abidemi Marquis, said the founder of Invictus Games will spend three days in Nigeria and would interact with wounded soldiers and their families.
He said the visit scheduled from 10th to 13th May 2024 would help wounded soldiers in their recovery efforts.
Marquis said: “Because we realised that 80 per cent of our soldiers have been involved in this recovery programme, they are getting better.
“Their outlook on life is positive. You know, when you are engaged in, you experience a permanent disability, you know, issues, it affects your mental health and also your outlook on life.”
Prince Harry and Meghan who are already in Nigeria, First made a visit to children at the Lights Academy in Abuja, Nigeria.
Here are pictures.
RIMA Foundation is set to mark two decades of promoting access to information, raising public consciousness on the need for proper management and security of records and information, and encourages the overall development of the information management community for the benefit of humanity and the industry.
Today, virtually all organizations, regardless of size, possess and manage a legacy of records and information, accumulate a rapidly growing store of records/information, and anticipate a future that is mostly, but not entirely, electronic.
It’s estimated that more than 90% of the records/information being created today are electronic.
Coupled with the overwhelming growth of electronic messages – most notably e-mail and instant messaging – the management of records/information has become a critical business and social issue.
How that information is managed has significant business, legal, and technology ramifications. Ultimately, it doesn’t matter what medium is used to create, deliver, or store records/information when determining if content is a record and should be managed accordingly.
Now, individuals and organizations also produce a vast range of important records/information – such as letters, reports, emails, marketing materials, studies, engineering drawings, handwritten consultation notes, and committee minutes – all of which constitutes an organization’s memory of its processes and procedures, and its knowledgebase of its expertise, experience, and specializations.
For this reason, Records and Information Management Awareness Foundation (RIMA Foundation), was established as a brainchild of Dr Ayodeji Oyewole Oyedokun, the founder / chairman – Board of Directors at The International University of Information Management [IUIM], who is also celebrating his 50th birthday.
RIMA foundation’s drive is to bring together knowledge and create awareness about information management and security to improve the information management/security awareness globally thereby promoting transparency and accountability in both public and private organisations.
“For many organizations and individuals, records/information will continue to be important for as far ahead as they can see even though they will rely increasingly on knowledge management technology”, Dr. Oyedokun said.
RIMA Awards now International Management Merit [IDMM] Awards
The Foundation has also set up plans to appreciate the data & information management community through the International Management Merit [IDMM] Awards.
Coincidentally, Dr Ayodeji Oyewole Oyedokun will be marking his 50th birthday – it is a double celebration for him!
Formerly known as the RIMA Awards, this esteemed event celebrates excellence and innovation in Data, Information, Content, Archives, Records, Document Management & Security.
Since its inception in 2005, the RIMA Awards have been the beacon of recognition, highlighting outstanding efforts in promoting proper management and security of records and information.
As the largest event of its kind in Africa, these awards symbolize excellence and innovation in the IM, IT, and business world.
“By recognizing these efforts, we aim to emphasize the importance of effective records and information management systems, which are crucial for improved decision-making, operational efficiency, and compliance with legal and regulatory requirements”, he said.
The management of Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI) has expelled two of its students filmed assaulting a female colleague.
A video recently went viral on social media of a student hitting her fellow student with a stick that was handed to her by another student. The bully had kept insinuating that she would draw blood from her victim.
Reacting to the incident, the Public Relations Officer of the institution, Temitope Akinbisoye, in a statement released, said the students caught in the video were summoned on Monday, May 6 and were meted the appropriate punishment for their actions
”In accordance with our institution’s policies and extant regulations, the students who were captured in the viral video appeared before the Students’ Disciplinary Committee at its emergency meeting held on Monday, May 6, 2024, for interrogations and appropriate recommendations, the report of which has been submitted to the University authorities.
The University authorities condemn in strong terms, any form of violence or misconduct in our University or by any of our constituents. Such behaviour is entirely inconsistent with the values we uphold and the standards of respect and dignity that we expect from all members of our University.
Miss Opemiposi Precious BOLAJI with Matriculation No. 10232, a 100L Mass Communication student who was beating her colleague with a stick and threatening to inflict bodily harm on her for allegedly destroying her 3-year old love affair with her boyfriend was found guilty of misconduct and flagrant breach of her matriculation oath and consequently EXPELLED with immediate effect.
Miss Genesis OSARO, a 100L Mass Communication student with Matriculation No. 10257, who provided the stick with which Gloria AJAYI was beaten, was found guilty of misconduct (as an accomplice) and flagrant breach of her Matriculation oath and consequently EXPELLED with immediate effect.
Miss Gloria AJAYI, a 100L Mass Communication student with Matriculation No. 10295, who was seen being beaten in the viral video but did not retaliate or engage in fisticuffs with her tormentors, was EXONERATED.“
Fuel Scarcity Will Soon Be Over – Senate Leader Says
Prince Harry And Meghan Markle Arrive Nigeria Today, May 10th
Senate Amends NDLEA Act, Approves Death Penalty For Dangerous Drugs Manufacturers And 15 Years Imprisonment For Users
LASG Acquires New Outboard Engines For Optimum Boat Performance
ALERT: LASG Closes Ilupeju, Ogunmokun, Jibowu, Yaba Level Crossing For Railway Project
We Do Not Accept Refugee Application Directly From People – Canadian Govt.
-
News4 days agoEkiti Students Caught On Camera Bullying A Fellow Student, Have Been Expelled
-
Politics4 days ago
Lagos Water Corporation Starts Protest Against Sack Of Workers
-
Politics3 days ago
Senate Amends NDLEA Act, Approves Death Penalty For Dangerous Drugs Manufacturers And 15 Years Imprisonment For Users
-
News3 days ago
RIMA Foundation Clocks 20 Years
-
Spotlight3 days ago
Young Man Named Young C, Delves Into The Challenge Of Being Buried Alive For 24 Hours
-
News2 days ago
Prince Harry And Meghan Markle Arrive Nigeria Today, May 10th
-
Politics23 hours ago
Fuel Scarcity Will Soon Be Over – Senate Leader Says
