Lagos State government on Wednesday announced cancellation the 2018 Land Use Charge and reverted to the pre-2018 Land Use Charges. The State Commissioner for Finance, Dr Rabiu Olowo, made this known at a press briefing which took place at the Bagaulda Kalto Press Centre, Alausa, Ikeja. Olowo also disclosed that the state government also waived penalties for Land Use Charges in respect of 2017, 2018 and 2019, which he said amounted to a loss of N5.6bn in revenue. According to the report, its creditors were the United States and Canada, which Britain transferred £43 million and £12 million respectively. The original loan of $4.34bn which was equivalent to £27bn as of 2006, was drawn to prevent Britain from falling into bankruptcy due to aggravated and colossal damage caused by… Lagos land use charge

Source: Nigerian Tribune August 05, 2020 14:15 UTC