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Ambode on Land Use Charge: we’re ready for dialogue

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•Lagos State Governor Akinwunmi Ambode (left) greeting Dangote Group President Aliko Dangote at “Lagos Means Business” (a parley with the Governor), at the Eko Hotel and Suites, Victoria Island...yesterday. With them (from left) are: Founder, First City Monument Bank Group, Otunba Subomi Balogun; Chairman, Premier Lotto Limited, Chief Kessington Adebutu and Chairman, Eleganza Group of Companies, Alhaji Rasak Okoya

INUNDATED with complaints from property owners over the revised Lagos State Land Use Charge (LUC) Act, Governor Akinwunmi Ambode yesterday explained what informed    the review. He said his doors were opened for dialogue.

According to him, the government is not oblivious of the outcry against the law. His administration, he said, was not out to overburden property owners.

Ambode was speaking at a parley with business executives under the auspices of the organised private sector (OPS). He said the decision to review the law more than a decade after its enactment was in the overriding interest of the future of Lagos as a mega city.

At the parley tagged: “Lagos means business”, were captains of industry including: one-time Cross River State Governor Donald Duke; First City Monument Bank (FCMB) Group founder Otunba Subomi Balogun; Premier Lotto Limited Chairman Chief Kessington Adebutu; Eleganza Group of Companies Chairman Alhaji Rasak Okoya and Zenith Bank Chairman Jim Ovia.

Others are: Deputy Governor Mrs. Oluranti Adebule; United Bank for Africa (UBA) Chiarmen Tony Elumelu; Honeywell Group Chairman Oba Otudeko; former Industry Minister and immediate-past Lagos Chamber of Commerce & Industry (LCCI) Mrs. Nike Akande; Channels Television Chairman John Momoh; Pivot Companies Limited Managing Director Kehinde Bolodeoku; members of the diplomatic corps, top business executives and high net-worth property owners, among others.

The governor explained that the Law, enacted in 2001, provides for an upward review every five years, but that the government did not review it until last year, adding that the review was in line with the present economic realities.

Ambode said: “The law was made in 2001. It provides that every five years, we should review it and also find a way to increase. Fifteen years after (up until 2017), the law has never been reviewed. Now, the question is this; those who are having commercial properties, the rental income they were getting in 2002 as against the rental income they are getting in 2017, is it the same?

“The level of infrastructure that existed in 2002, as against what has happened in the last 15 years, is it the same? Did it not come at a cost? So, why is the market value of the property that you built with N1 million naira, 15 years after, you are selling at N20 million. Why do you think somebody who is a buyer will pay N20 million for it? Is it not because of the facilities around the property? So, we have to sacrifice; that is how it works everywhere.

“So, somebody comes and say, we have increased by 400 per cent. The question is, the 400 per cent of what? You were paying N10, 000 before, now we say you should pay N50, 000 and you are calculating and turning statistics upside down by saying it is 400 per cent.”

He went further to explain that while the revised LUC Law requires owner-occupiers to pay just 0.076 per cent, pensioners, churches, mosques, non-governmental organisations and government institutions are exempted from payment.

His words: “So, who is the one that will take care of the ones that are free? If you are owner-occupier, you don’t need to pay. So, it’s the commercial part that people are complaining about.

“Why have we increased the rate? We should have been doing this every five years but I am looking at it if I must sustain the level of my vision, I have to give something back to the people.

“I don’t have to come and meet you if I continue to borrow money, but we are borrowing to punish you ultimately which is not what we want because it is even the taxes you pay that would pay the interest and the principal. Somebody needs to tell us the bitter truth for us to sacrifice together and that is what we have done.”

Reeling out statistics to explain the challenges that would confront the state in the nearest future, the governor said Lagos has been projected to become the third largest consumer market in the world with a population of 35.8 million, closely behind Tokyo in Japan and Delhi in India.

It is expected that the population growth and rapid urbanisation would overstretch existing infrastructure and put public services under pressure.

Ambode said the state requires a minimum of $50 billion over the next five years to bridge the gap of infrastructural deficit, even as he proposed a special infrastructure fund to be driven by the OPS to address social challenges as the way to go.

“Assuming the entire budget for 2018 is spent only on infrastructure development, Lagos will be left with a deficit of about N14.47 trillion and also require an additional 19 years of similar expenditure to bridge the infrastructure deficit”, Ambode said.

The governor expressed concerns that only about two million out of the eight million taxable adults in the state have filed their tax returns. Only 700,000 actually paid their taxes last year, Ambode said.

“We are 24 million; taxable adults in Lagos are eight million. The number of people that actually submitted tax returns in 2017 is two million and then only 700, 000 people paid their taxes,” he said.

Zenith Bank Chairman Jim Ovia speaking at the event ...yesterday PHOTOS: MOSEHIN MOSES

Ambode said the current tax returns were not enough to cater for the ongoing capital projects across the state, adding that major cities across the world with thriving economies are sustained by the taxes paid by residents.

Thanking the business community for their support over the years, Ambode renewed his administration’s commitment to the creation of an enabling environment for businesses to thrive, adding that concerted efforts have been made to aid the expansion of their businesses in the state.

This, he noted, would have multiplying effects on the state’s economy.

“I invite you to come and own the economy. Whatever you say here would be taken seriously because this gathering is not just about knowledge sharing; it’s more about the future of Nigeria and not just Lagos,” the governor said.

In his remarks, Alhaji Dangote commended the governor for deeming it fit to organise a forum to meet the business community in the Centre of Excellence, describing it as a demonstration of Ambode’s passion to take Lagos to the next level.

He also said the economic drive by the government was one that required all and sundry to rally round the government and perform their civic responsibility of paying their taxes as and at when due.

The Dangote Group President said: “I am more convinced now and I think people should really be voluntarily paying taxes in Lagos. I think for the people who are doing business here, Lagos is the most-friendly states in Nigeria. If you really want to know, try other states and you will see…

“I am not advertising for Lagos but there is not a single time you go with a problem and the governor will ask you to go and come back tomorrow because in most cases, he will call everybody and say let us sit down and sort out the issues. So, your Excellency, we congratulate you and assure that we will continue to support you.”

Banks’ executives Ovia and Elumelu lauded the governor for the massive infrastructural renewal projects across the state especially in the area of security.

Ovia, said that business owners now feel safe to invest in the state owing to the investment in security, just as he commended the governor for sustaining the Lagos State Security Trust Fund (LSSTF), a public-private partnership designed to enhance local security.

“Your Excellency, you have spoken today like a Chairman/CEO of a company to his shareholders. We are definitely one of your shareholders and we would renew your mandate in 2019 there’s no doubt”, Ovia said.

The duo promised to increase their donation to the LSSTF and called on others to contribute their quota to the enhancement of the state’s security architecture.

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Bye-Election: Crisis Rocks Labour Party as Obi Directs Members to Vote for Other Party , Abure Says ‘Ignore Him’

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The attention of the leadership of the Labour Party has been drawn to a statement by the party’s former presidential candidate, Mr. Peter Obi, directing party members to cast their votes for another party in the August 16, 2025 bye-election. The party said that Obi’s directive is misleading, mischievous and delusional.

The party is however calling on all our faithful party members to ignore this malicious directive and go ahead with casting of their votes for the Labour Party and their candidates.

It is unfortunate that Obi has turned himself to an irony and a paradox in the Nigeria political space. He is now reputed to have elevated subterfuge in the game of politics and has of late been crying wolf where there is none. He has turned himself into “Uber” politician, not willing to take a position and stand by his decision. He has now booked a place for himself in the Guinness book of records as a person affiliated to many political parties pari pasu, all in his desperation to preside over Nigeria.

Nigerians should not forget in a hurry that it was Peter Obi that created the crisis in the Labour Party which he is now citing as a reason why people should not vote for the party. Peter Obi and Alex Otti the Governor of Abia State hosted the ill-fated and illegal expanded stakeholders meeting in Umuahia, September 4, 2024. He has also co-funded the crisis all these while and went as far as leading a protest match to INEC headquarters against his own party.
His desperation to control the soul of the party has made him go haywire.
A man that received so much goodwill from the party leadership but turned around to pay them with evil. This is why we have maintained that Peter Obi lacks the competence, character and capacity to actualise the vision of a new Nigeria.

What Obi does not know is that Labour Party is on the ballot and our candidates are contesting the election in spite of all his efforts to strangulate the Labour Party. The party unknown to him has done everything within the law to ensure that our candidates participate in the bye-election and of course in all other future election.

We are therefore encouraging our candidates, members and supporters across all the states where bye-election is holding to be focused and ensure that we carry out our civic duties by returning Labour Party and the candidates elected. Nigerians have come to know who Peter Obi is.

 

 

 

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Tinubu orders FIRS, Customs to review revenue deductions, Says Edun

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President Bola Tinubu on Wednesday directed a review of deductions and revenue retention practices by Nigeria’s major revenue-generating agencies, in a bid to boost public savings, improve spending efficiency, and unlock resources for growth.

The agencies include the Federal Inland Revenue Service, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Maritime Administration and Safety Agency, and the Nigerian National Petroleum Company Limited.

Tinubu gave the directive during the Federal Executive Council meeting on Wednesday in Abuja. The President’s directive was disclosed to journalists by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

According to Edun, President Tinubu specifically called for a reassessment of NNPC’s 30 per cent management fee and 30 per cent frontier exploration deduction under the Petroleum Industry Act. He tasked the Economic Management Team, chaired by Edun, to present actionable recommendations to FEC on the optimal way forward.

The President said the directive was part of efforts to sustain reforms that have dismantled economic distortions, restored policy credibility, enhanced resilience, and bolstered investor confidence.

According to him, these reforms have created a transparent, competitive business environment attractive to local and foreign investors in critical sectors such as infrastructure, oil and gas, health, and manufacturing.

Reaffirming the Renewed Hope Agenda, Tinubu said Nigeria’s goal of a $1tn economy by 2030 requires growth of at least seven per cent annually from 2027 — a target he described as “not just economic, but a moral imperative,” as higher growth is the surest path to tackling poverty.

He cited the July 2025 International Monetary Fund Article IV report, which he said endorsed Nigeria’s economic trajectory and the need for investment-led growth.

On grassroots empowerment, the President pointed to the Renewed Hope Ward Development Programme — a ward-based initiative covering all 8,809 wards across the country — designed to lift economically active citizens through micro-level poverty reduction strategies in collaboration with states, local governments, and private partners.

Tinubu noted that public investment accounts for just five per cent of Gross Domestic Product due to low savings, stressing that optimising “every available naira” is vital, especially under current global liquidity constraints.

Edun said macroeconomic indicators were improving, with a more stable exchange rate, easing inflation, rising revenues, and debt-to-GDP ratios now within range. He described savings as the foundation of investment and said the President’s directive aims to quickly raise public sector savings by reviewing deductions and retention practices.

Meanwhile, Edun said he presented two memoranda to Council — a $125m Islamic Development Bank financing for infrastructure in Abia State, covering 35 kilometres of roads in Umuahia and 126 kilometres in Aba; and a plan to refinance N4tn in outstanding electricity sector obligations.

The electricity debt resolution will be executed in phases, with the first phase expected within three to four weeks under the coordination of the Debt Management Office and other agencies.

According to the talking points by President Bola Tinubu obtained by our correspondent, he commended members of the Federal Executive Council for implementing bold reforms “that have dismantled longstanding distortions in our economy and restored policy credibility.”

Tinubu said the reforms have enhanced economic resilience, restored macroeconomic stability, created a transparent and competitive business environment, and bolstered investor confidence.

“As a result, our economy is now better positioned to attract both domestic and foreign private investment-investment that is critical to stimulating sustained growth, creating decent jobs, and lifting millions of Nigerians out of poverty.

“Our Renewed Hope Agenda remains focused on achieving a $1tn economy by the year 2030. To realise this vision, we must now accelerate our efforts to achieve a minimum growth rate of 7.0 per cent by 2027,” Tinubu said.

According to him, stimulating higher growth is the only sustainable path to solving the poverty challenge in Nigeria. “The recent IMF Article IV Report, published in July 2025, also affirms this trajectory and underscores the importance of investment-led growth.

“In line with our commitment to inclusive development, I recently launched the Renewed Hope Ward Development Programme-a ward-based initiative covering all 8,809 wards across the 774 Local Government Areas in Nigeria.

“This programme is close to my heart. It is designed to empower active grassroots economic players, using a micro-level approach to tackle poverty. We aim to bring sub-national governments and private sector partners on board to ensure efficient and impactful implementation,” he stated.

He urged governors to accelerate growth by prioritising productivity-enhancing investments, strengthening food security, and deepening collaboration with local governments to address the poverty challenge and ensuring that no Nigerian is left behind.

Speaking on savings and investment as catalysts for growth, the President emphasized the critical role of savings in catalyzing investment and growth. “Currently, public investment as a share of GDP stands at a low 5.0 per cent, largely due to insufficient public savings.

“We must urgently review and optimize our savings. This includes enhancing spending efficiency and reviewing deductions from the Federation Account, such as the cost of collection by revenue agencies, such as FIRS, Customs, NUPRC, and NIMASA, etc.

“There is also the need to reassess the 30 per cent management fee and the 30 per cent frontier exploration deduction by NNPC based on the Petroleum Industry Act. We must optimise every available Naira to sustain our momentum and finance our growth trajectory-especially in a time of global liquidity constraints.

“Accordingly, I am directing the Economic Management Team, chaired by the Minister of Finance and Coordinating Minister of the Economy, to conduct a comprehensive review of all deductions and revenue retention practices, and present actionable recommendations to this Council for an optimal way forward.”

 

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BREAKING: Court Discharges Comfort Emmason as Police Prosecution Withdraws Case

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An Ikeja Magistrates’ Court on Wednesday discharged Miss Comfort Emmason of charges bordering on unruly behaviour and assaulting the flight crew aboard an Ibom Air aircraft from Uyo to Lagos on Monday.

Magistrate Olanrewaju Salami struck out the five-count charge against Emmason after the police prosecution team withdrew the case.

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At the resumed hearing, prosecutor Oluwabunmi Adeitan informed the court of new developments that necessitated the withdrawal.

She tendered an application to the court for the withdrawal of the case, which was admitted by the court.

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