The Lagos State Government has reduced the land use charge that was recently upwardly reviewed by the Governor Akinwunmi Ambode administration.
According to reports, the charge was reduced after a state executive council meeting which held at the State Secretariat, Alausa, Ikeja, on Thursday.
The new charge, which increased by as much as 400 percent, had been severely criticised by many individuals and civil society organisations within and outside the state.
But according to reports, the new charge:
• Cut commercial charges by 50 percent
• Reduced charges for owner -occupier with third party — including industries and manufacturing concerns by 25 percent
• Waived penalty for late payments across board
• Given tax credits for LUC charges already paid
• Introduced Installment Payment System