The Lagos State government is awash with cash. The state raked in N20.7 billion from sales of land and other land related services in the last one year alone. Yetunde Onabule, special adviser to Governor Akinwunmi Ambode on Urban Development, said this amount represents 148 per cent increase over that of the corresponding year which stood at N11.454 billion.
‎Onabule, who spoke at the Ministerial Press briefing to mark the second year anniversary of the Ambode government in Lagos, ‎said the amount was generated from transaction on the sales of land for industrial development in the state. She added that that the revenue performance for the year under consideration exceeded the Land Bureau’s budget for the period by 45 per cent.
“Asides the one-off transaction, expected revenue from the New Schemes during the period under review, could not be realised in view of infrastructure development within the new scheme, thereby making it difficult for us to generate revenue from these sources,” she stated.
Onabule, however, assured that the revenue of the Bureau will continue to be improved upon at the kick-off of the new schemes, transactions on State land, payment by defaulters, amongst others. “We are optimistic that our policy to further upgrade our service delivery through better strategic procedures and smarter use of information technology will enhance our revenue performance and service delivery this year,” she said.
In the same period, Onabule revealed, a total sum of N 2.022 billion was been paid by the government to people who’s land or property were taken over for overriding public interest. She gave a breakdown of compensations paid so far as: N751.455 billion for those displaced as a result of the Abule Egba Link bridge; N39.053 million for Oko Baba Sawmill relocation; N350.89 million for the families who gave up their land for the Isale Igangan regeneration project; Olorunsogo Market traders and owners got N447.32 million; Mosafejo Community/Olorunsogo Ultra-modern market got N188.13 million and those affected in the Phase 1 of the Epe road expansion got N315.839 million.