General
Stakeholders Hail Ambode’s 50% Slash of Land Use Charge
By Modupe Gbadeyanka
Governor Akinwunmi Ambode of Lagos State has been commended for approving the downward review of the amended Land Use Charge Law 2018 to 50 percent for commercial property as well as other LUC waivers that will give economic succour to owners of property and taxpayers in Lagos State.
Lagos State Commissioner for Finance, Mr Akinyemi Ashade, at a media briefing on Thursday at the Baguda Kaltho Press Centre, Alausa, Ikeja, announced the slashing of the fee by 50 percent.
He explained that the “Lagos State government took this important decision for the good of the people” and as a government “committed to the welfare of its citizens and which understands the importance of continuously engaging the populace.”
In addition, Mr Ashade stated that the review to the amended LUC Law 2018, which was received with mixed feelings in the state, came as a result of widespread dialogue with stakeholders such as the Organised Private Sector, Nigeria Bar Association, Real Estate Investors & Developers, Landlord & Resident Associations, Community Development Associations, Civil Society Organizations, Lagos Chamber of Commerce and Industries (LCCI), Nigeria Institute of Estate Surveyors & Valuers and several other professional groups.
Furthermore, the Commissioner of Finance appreciated and commended property owners of all categories who have been performing their civic duties faithfully by paying the LUC.
“Consequently, as a result of these new measures, those who have paid the original amount will be awarded tax credits to the extent of the excess amount paid and carried forward to next year,” he said.
He also thanked Lagosians for their support and trust while encouraging them to participate effectively in the legislative proceedings.
“We appreciate you for trusting the current administration with the responsibility of investing the revenue from LUC in infrastructure renewal and overall development of our State. We promise we will continue to make your tax work for you,” the Commissioner said at the conference attended by members of the media in the state and other relevant stakeholders.
He disclosed that the after effect of the review of the amended LUC law means owners of property in Lagos State can now reap the benefits and waivers as follows:
COMMERCIAL PROPERTY OWNERS, who are undoubtedly the stakeholders mostly impacted by this amended Law will be granted 50 percent discount. This means a commercial property valued at N20 million which was earlier billed N91, 200 will now pay N45,600 per annum.
PROPERTY OCCUPIED BY OWNER AND THIRD PARTY & PROPERTY USED FOR INDUSTRIAL AND MANUFACTURING PURPOSES will now enjoy 25 percent discount. This means that a N20 million property expected to pay N30,720 will now pay N23,040 per annum.
OWNER-OCCUPIED PROPERTY will enjoy 15 percent discount. For a N20 million property, this used to be N9,120. Now, it is N7,752 per annum.
Additionally, the penalty regime for late payment of LUC has been waived completely. Therefore, LUC payers who have received their bills will no longer be penalized for late payment of bills issued in 2018, thereby providing additional relief to LUC payers.
Apart from the earlier stated ones, other rates and reliefs will remain unchanged and will be implemented as stipulated by the Law.
These include 40 percent general relief, 10 percent for 70 years and above, 10 percent for properties owned by persons living with disability and 10 percent for properties that are 25 years old and so on and so forth.
Owners of Property across all categories will now be allowed to make payments by instalments. This will help to reduce the burden of taxation on Lagos citizens.
Executive Director of Centre for Public Accountability (CPA), Comrade Femi Lawson, who was elated at the new LUC review, praised the administration of Governor Akinwunmi Ambode for its empathy with the people of the state.
“This review shows a government which shares in the pain and concerns of the citizens of this state. Not only did they listen to our agitations but also LASG took action to allay our fears and worries by bringing the LUC rates down and introducing some other tax burden relief measures. This is surely a pro-people government,” Comrade Lawson said.
Similarly, Mr Thomas Aderinola, a real estate investor in Lagos State, said the downward review of the amended LUC law by as much as 50 percent was a reassuring indication that the LASG is a listening government.
“Imagine this huge waiver of 50 percent. It shows that the state government is sensitive to needs and is working for the interest of the people. We all can see what Governor Ambode is doing in the state in terms of Infrastructural development,” he said.
More importantly, Mr Aderinola applauded the government for introducing some other waivers like the instalment payment and the newly set up People’s Tribunal to resolve LUC payment cases in the state.
“With developments like these, we will be happy to show our commitment to the growth of Lagos by paying our taxes as at when due,” he opined.
General
Customs, NMDPRA Strengthen Interagency Efforts Against Fuel Diversion
By Adedapo Adesanya
The Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are strengthening their collaboration to combat the diversion of petroleum products intended for domestic use and to safeguard Nigeria’s energy security.
This renewed partnership was highlighted during a meeting between Comptroller General of Customs, Mr Adewale Adeniyi and the NMDPRA Executive Director of Distribution Systems, Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, at Customs House, Maitama, Abuja.
During the engagement, Mr Adeniyi reaffirmed the service’s commitment to strengthening inter-agency cooperation, particularly in safeguarding Nigeria’s domestic energy security and ensuring that petroleum products meant for local consumption are not diverted to neighbouring countries.
He noted that collaboration between both agencies had already produced measurable results, especially through Operation Whirlwind, which he described as a model for intelligence sharing, joint enforcement and coordinated field operations.
He said the Nigeria Customs Service remains fully aligned with ongoing reforms in the petroleum regulatory space and will continue to provide technical input, operational feedback and border management expertise to support the implementation of new guidelines being developed by the NMDPRA.
He commended the Authority for its efforts to harmonise legacy processes with the Petroleum Industry Act, stressing that clear and efficient export point procedures are essential as Nigeria moves from being a net importer to an emerging exporter of petroleum products.
“We welcome every initiative that strengthens energy security and ensures that the gains made in reducing cross border diversion are not reversed. Our shared responsibility is to protect national interest, support legitimate trade and maintain a transparent system that stakeholders can rely on. We will continue to work closely with sister agencies to achieve these outcomes,” he stated.
In his remarks, the Executive Director, Mr Ukoha, said the NMDPRA enjoys a longstanding and productive working relationship with the Nigeria Customs Service, noting that Operation Whirlwind remained the high point of that collaboration.
He explained that both agencies deployed personnel, exchanged intelligence and jointly monitored petroleum products in border corridors, leading to a marked reduction in cross border diversion.
Ukoha said the purpose of the visit was to brief the CGC on newly developed guidelines for designating export points for petroleum products as Nigeria’s refining capacity expands.
He said the NMDPRA is engaging key institutions, including Customs, the Central Bank of Nigeria (CBN), the Federal Ministry of Industry, Trade and Investment, and the Nigerian Navy, to ensure the guidelines reflect operational realities before implementation.
The NMDPRA executive recalled several field operations and strategic engagements with the Customs leadership, including the joint launch of Operation Whirlwind in Yola, where both agencies reinforced their commitment to curbing diversion and securing the domestic supply chain.
He added that while enforcement had played a major role in reducing irregular movements of petroleum products, the removal of fuel subsidy had significantly reduced the economic incentive for cross border smuggling.
According to him, the authority will continue to work closely with the Customs Service to sustain progress and ensure that petroleum exports are properly regulated without exposing the country to energy security risks.
General
Dangote Publishes Details of Farouk Ahmed’s Swiss School Fees for Kids
By Adedapo Adesanya
The president of Dangote Group, Mr Aliko Dangote, has published details alleging extensive foreign education expenses made by the chief executive of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, on four children in a new turn of event between the businessman and regulators.
Speaking on Sunday, the business mogul alleged that Mr Ahmed paid about $5 million for the secondary school education of his four children in Switzerland, and wondered how the government official could afford to pay such amount of money when there are several students in the home state of Mr Ahmed, Sokoto State. He threatened to published more details.
In the latest illustrated claims, Mr Dangote alleged that Mr Ahmed’s children attended secondary schools in Switzerland for about six years each. He listed the schools as Montreux School, Aiglon College, Institut Le Rosey and La Garenne International School. He named the children of Mr Ahmed as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.
Mr Dangote alleged that the total cost of secondary education for the four children — covering tuition, upkeep, travel and related expenses exceeded $5 million.
He further claimed that an additional $2 million was spent on university education for the four children over a four-year period.
Specific figures were also cited for 2025, with Mr Dangote alleging that about $210,000 was spent on one child’s Master of Business Administration programme at Harvard University.
The breakdown reportedly includes $150,000 for tuition and $60,000 for accommodation, travel and other incidentals.
The claims have not been independently verified by Business Post at the time of filing this report but Mr Dangote revealed these details in an advertorial in most of the national newspaper on Tuesday.
Also, Mr Ahmed has yet to publicly respond to the allegations.
Mr Dangote earlier called on the authorities to institute a full scale investigation into the activities of the NMDPRA boss, with the outcome made public.
General
Supreme Court Empowers Tinubu to Declare Emergency Rule, Suspend Elected Officials
By Adedapo Adesanya
The Supreme Court has upheld the power of the President to declare a state of emergency in any state to prevent a breakdown of law and order or degeneration into a state of chaos or anarchy.
In a split decision of six-to-one, the apex court held that the President, during a state of emergency, can suspend elected officials, but within a limited period.
In the lead majority judgment, Justice Mohammed Idris held that Section 305 of the Constitution empowers the President to deploy extraordinary measures to restore normalcy where emergency rule is declared.
Justice Mohammed Idris noted Section 305 was not specific on the nature of the extraordinary measures, thereby granting the President the discretion on how to go about it.
The judgment was on the suit filed by Adamawa State and 10 other Peoples Democratic Party-led states challenging the propriety of the state of emergency declared by President Bola Tinubu in Rivers State, during which elected state officials, including Governor Siminalayi Fubara, were suspended for six months.
On March 18, President Tinubu declared a state of emergency in Rivers State following a reported attack on crude oil pipelines; and in the same breath, suspended the sitting governor and his deputy, Mrs Ngozi Odu. He then put in place a sole administrator.
This was challenged at the apex court by some states.
Justice Idris, in the earlier part of the judgment, upheld the preliminary objections raised by the two defendants against the competence of the suit.
In upholding the objections raised by the Attorney General of the Federation (AGF) and the National Assembly (the defendants), Justice Idris held that the plaintiffs (the 11 PDP states) failed to establish any cause of action capable of activating the original jurisdiction of the apex court.
He struck out the suit for want of jurisdiction, proceeded to also determine the case on the merits, and dismissed it.
However, Justice Obande Ogbuinya dissented and held that the case succeeded in part.
Among others, Justice Ogbuinya held that although the President could declare a state of emergency, he cannot use such powers as a tool to suspend elected state officials, including governors, deputy governors, and members of parliament.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn












