Lagos rakes in N20.7bn from land transactions

.pays over N2bn as compensation in one year

The Lagos State government said it has generated the sum of N20.7 billion from sales of land and other land related services in the last one year.

Available statistics showed that the amount in revenue performances, surpassed the total revenue of the previous year which stood at N11.454 billion, equivalent to 148 percent.

Speaking at a press briefing in Lagos, the Special Adviser to the governor on Urban Development, Mrs. Yetunde Onabule, ‎said the amount was generated from transactions on sales of land for industrial development in the state, adding that the revenue performance for the year under consideration exceeded the Bureau’s budget for the period by 45 percent.

“Aside the one-off transaction; expected revenue from the new schemes during the period under review, could not be realized in view of infrastructure development within the new scheme, thereby making it difficult for us to generate revenue from these sources.

“Let me assure you, that the revenue of the bureau will continue to be improved upon at the kick-off of the new schemes, transactions on state land and payment by defaulters.

“It is noteworthy to state that we are optimistic that our policy to further upgrade our service delivery through better strategic procedures and smarter use of information technology will enhance our revenue performance and service delivery this year,” she said.

Harping compensation, the Special Adviser said payment of such must be with the presentation of all necessary documents as might be required, evidencing ownership of the land, saying that government had not relented in its efforts to pay compensation.

According to her, ‎”it is worthy to state that when land is acquired and title revoked for over-riding public interest, it is our duty and obligation, as a responsible and responsive government, to pay compensation.

“We have paid and shall continue to pay compensation to all affected persons, groups in this regard. Furthermore, individuals, groups are given alternative land in lieu of monetary compensation.”

Onabule said a total sum of N2billion was being paid as compensation to individuals and groups within the period under review.

According to her, beneficiaries were those displaced as a result of the Abule Egba link bridge (and they got N751.455 million), those affected by Oko Baba Sawmill relocation (N39.053 million), Isale Igangan regeneration project (N350.89 million), Olorunsogo Market (N44732 million), Mosafejo Community/Olorunsogo Ultra-modern market (N188.13 million) and Epe road expansion phase I (N315.839 million).”
Onabule said Governor Ambode has signed about 4,445 Electronic Certificates of Occupancy, E-C of O since he assumed‎ office.