Lagos State government has generated N27, 054,031,674.52 from sales of land over the last one year.
- Permanent Secretary, Lands Bureau, Mr. Hakeem Muri-Okunola who spoke yesterday said the revenue performance surpassed the previous year with about 18.65 per cent.
- He said the figure also exceeded the bureau’s budget for the period by 165 per cent, adding that the increase was as a result of the improved transactions recorded on the sale of land for industrial development in the Free Trade Zone.
- He said:“The revenue performance, which is considerably more than the total of the previous year by about N18.65 billion, was due to transaction on the sale of land for industrial development in the Free Trade Zone. The revenue performance for the year under consideration exceeded the Bureau’s budget for the period by 165 per cent.”
- Speaking further on improved revenue collection from land, Muri-Okunola said aside some major transactions, the revenue from the new schemes being expected in the year under review as well as the property recertification project could not be realised, thereby making it difficult for the government to generate revenue from these sources.
