Lagos generates N20bn from land transactions in 2016

•Vows to enforce master plans for Banana Island, VGC, Magodo, others

By Olasunkanmi Akoni & Monsur Olowoopejo

In spite of the current economic recession in the country, Lagos State Government, yesterday, disclosed that at least N20, 773 billion was generated from land transactions, just as, N2 billion was paid as compensation to owners of property demolished for road expansions in 2016.

The state government also vowed to enforce the master plans of areas such as; Banana Island, Magodo Isheri, Omole phase 1 and 2, Park View, Osborne, Victoria Garden City (VGC) and Ikoyi, saying, the plans have been distorted by residents.

Special Adviser to Governor on Urban Development, Mrs. Yetunde Onabule, who supervises Land Bureau, disclosed the statistics at the on-going 2017 ministerial press briefing held at Alausa, Ikeja, Secretariat, Ikeja.

Onabule said that  the state Government raked in N11 billion higher than the previous year of 2015.

She explained that the huge increase in revenue generation was due the sales of land for industrial development in the State, saying, revenue per-formance for the year under consideration exceeded the Bureau’s budget target by 45 percent.

On demolition

The Special Adviser said: “We have discovered that allottees on government schemes have engaged in illegal extension of land allocated to them; in some cases, over 100 percent of the land allocated by the government.

“Some of our Schemes where this unwholesome activity takes place include Lekki Scheme 1, Magodo Shangisha, Magodo Isheri, Omole 1 & 2, Ogudu, ParkView, Osborne, Victoria Garden City, and Banana Island, Ikoyi. This act also involves illegal dredging aimed at adding more land and/ or fencing in road setbacks and right of way.

“The state government has engaged the services of a Consultant, who has carried out a thorough Survey on all of these Schemes to determine the exact size of Land that each concerned allottee has encroached upon.

“In light of this, we have commenced issuance of Demand Notices to regularize permissible extensions within a specified period, whilst, illegal extensions on road setbacks, Right of Way and flood plain are unacceptable.”

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