Lagos — Following extensive deliberations with stakeholders on the new rates payable by property owners under the Lagos State Land Use Charge (LUC) Law, the state government, yesterday, announced reduction in the rates, and as well, waived the penalty for late payment across board.
The Commissioner for Finance, Mr. Akinyemi Ashade, who disclosed this at a press briefing at the Bagauda Kaltho Press Centre in Alausa on the outcome of the dialogue with stakeholders, said the rates payable on commercial properties had been reduced by 50 per cent in response to the demands of the people.
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