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Wednesday, September 23, 2020

Lagos State Waves Penalties for Y2017 – 2019, reverse Land Use Charge to pre-2018 Rates

…, Sets Up Multiple Payment Channels The Lagos Government has reviewed the Land Use Charge (LUC) Law by reversing the rates to pre-2018, thereby undertaking reforms to reduce financial pressure on citizens and accommodating the agitations of Lagosians in respect of the exorbitant rates. The Commissioner...

Ogun govt. set to explore PPP initiative for housing development — GM

By Olawale Jokotoye Abeokuta, July 28, 2020 The Ogun government on Tuesday announced plans to explore the Public Private Partnership (PPP) initiative to achieve maximum and rapid development of its housing sector. The new General Manager of the state Housing Corporation, Mr Akinwale Ojo, said this...

Stamp Duty: Landlords, property agents to collect, remit 6% on tenancy, lease agreement

By Mustapha Sumaila Abuja, July 22, 2020 The Federal Inland Revenue Service (FIRS) has asked landlords and property agents to charge six per cent Stamp Duty on all tenancy and lease agreements they enter into with all leasees and remit same promptly to the Service. Mr...

FG lauds contractors for quality work on housing projects for Borno IDPs

By: Hamza Suleiman Maiduguri, July 19, 2020 Alhaji Mohammed Alkali, Managing Director of North East Developmemt Commission (NEDC) has applauded contractors handling the 100 houses for Internally Displaced Persons (IDPs) in Ngom, Mafa local government area of Borno, for ensuring quality work. Alkali, who made...

Experts advise Nigeria’s wealthy class to invest in risk-free fixed income assets

by LOLADE AKINMURELE Experts in Wealth Management advise rich Nigeria clients to invest in risk-free fixed income assets as well as alternative assets from student housing projects to agriculture finance in order to avoid been affected by COVID-19-induced market volatility and the economic impact of...

How Lagos State is tackling Nigeria’s housing deficit with Rent-to-Own Scheme

by Adewale Dosunmu Housing and accommodation in Lagos are notorious for being limited and unaffordable. With a population of about 20 million, the state is laden with an estimated housing deficit of three million. This housing gap requires tremendous effort to bridge and thankfully, the...

Sanwo-Olu commissions 264 units of flats in LEKKI

Gov: "We Will Build Affordable Houses For Lagosians-Sanwo-Olu" ...project is a successful public-private collaboration-Commissioner The Lagos State Governor Mr. Babajide Olusola Sanwo-Olu on Thursday has promised that his administration will build affordable and accessible houses for Lagosians. The commissioning came less than 24 hours...

Mass notorious evictions prompt protests as Nigerian housing crisis worsens

* Navy says raid targeted illegal settlement, criminals * Activists say evictions leaving thousands homeless * U.N. warns of housing crisis as population surges By Libby George LAGOS, Jan 24 (Reuters) - The men in naval uniforms charged into the Nigerian waterfront village of Okun Glass in the...

Lagos Assembly Amends Land Use Charge Law 2018

Members of the Lagos State House of Assembly have amended the Land Use Charge Law, 2018 and for connected purposes. The 6 Man Ad Hoc Committee, Chaired by Hon. Rotimi Olowo, presented the report of the findings of the Committee to Members at the Plenary...

Lagos Building Luxury Homes in Face of Affordable Housing Crisis

Paul Wallace and Tope Alake (Bloomberg) -- They come from the countryside, from the villages, from the capital city or from neighboring countries — energetic, ambitious, full of hope that they’ll find jobs and a community and better lives. Few find what they come for....
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