The Lagos State Authorities has launched the 2025 Land Use Cost (LUC) payments, providing property homeowners a 15% low cost for funds made inside 30 days of receipt.
The announcement was made by Commissioner for Finance Abayomi Oluyemi in a press release on the state authorities’s official web site on Saturday.
The commissioner highlighted the significance of the Land Use Cost, noting its position in supporting infrastructure and public providers, and urged property homeowners to grab the low cost whereas contributing to Lagos’ improvement.
“The Lagos State Authorities has launched the 2025 Land Use Cost (LUC) Invoice, reinforcing its dedication to the continual provision of world-class infrastructure and providers for all residents.
“Based on the Commissioner for Finance, Mr. Abayomi Oluyemi, property homeowners throughout the state are inspired to reap the benefits of the 15% low cost on their Land Use Cost by making early funds earlier than the deadline,” the assertion learn partly.
It added, “Don’t miss out on the 15% low cost by paying inside 30 days of receipt of your invoice.”
Oluyemi referred to as on property homeowners to meet their civic responsibility by making well timed Land Use Cost funds, emphasizing that their contributions drive Lagos’ development into a contemporary, thriving metropolis.
He urged them to reap the benefits of the 15% low cost through the use of any of the out there cost channels, together with web banking, financial institution deposits, USSD codes, POS machines at LUC places of work, and the Lagos On-line Assistant (LOLA) WhatsApp platform.
What you must know
In Lagos State, the Land Use Cost Legislation 2020 mandates cost by property homeowners, together with lessees with at the very least a 10-year lease or recipients of property earnings. House owners of vacant land are additionally liable to pay the cost.
Land Use Cost Demand Notices are issued by officers or will be requested through e-mail or on the Land Use Cost workplace.
- Exemptions apply to properties owned and occupied by pensioners, public libraries, non-profit cemeteries, palaces of Obas and Chiefs, and spiritual properties used for worship or training. Nevertheless, eligible homeowners should apply for exemption by way of the Lagos State Commissioner of Finance with supporting proof.
- The 15% early cost low cost was not launched with the 2025 Land Use Cost invoice but in addition utilized in 2024 for funds made inside 30 days of receiving the invoice.
The Land Use Cost stays a significant income supply for the Lagos State Authorities. In 2024, the state projected N700 million in income, and in simply the primary 4 months, it generated N300 million. Nevertheless, the entire income for the yr was not disclosed by the federal government.