General
Land Use Charge: Lagos Assembly Holds Public Hearing
By Modupe Gbadeyanka
The Lagos State House of Assembly on Tuesday held a public hearing on the proposed amendments to the land use charge recently signed into law by the state governor, Mr Akinwunmi Ambode.
Shortly after the bill was signed into law in February 2018, it generated controversies with some people asking for its immediate repeal because of the astronomical hike in the land use charge rate.
This month, the Ikeja branch of the Nigerian Bar Association (NBA) staged a protest, calling on government to revoke the law.
However, some hours after the demonstration by the lawyers, the state government announced a 50 percent reduction in the rate, promising to engage stakeholders more on the controversial land use charge.
Yesterday, the Lagos assembly held a public hearing on the proposed amendments to the new law, which took place at the Lateef Jakande Auditorium.
The venue was filled to capacity with key stakeholders involved in the matter, including the Ikeja branch of the NBA, which requested for a postponement of the hearing because copies of the law and the proposed amendments had not been made widely available to the public prior to the hearing.
Chairman of the branch, Mr Ogunlana Adesina, argued that it was necessary for the public to have the documents so as to form major crux of discussions.
In over-ruling this request, however, the Speaker of the House of Assembly, Mr Mudashiru Obasa, reminded the House that the issues being discussed are not particularly new, having been in the public domain for several weeks.
Besides, he added that of the 37 sections of the Land Use Charge Law, only 8 were actually billed for amendment. The issues, therefore, were not particularly new as to warrant further delays or postponement, he said.
Upon this pronouncement by the Speaker, which the House took well, as there were no subsequent protests or murmurs from the floor, members of the Ikeja branch of the NBA staged a quiet walk-out. About 15 or so members all dressed in red or white T-shirts, quietly walked out of the hall.
However, the walk-out did nothing to disrupt the proceedings as the public hearing continued seamlessly.
Public representation was heavy with organized groups such as the Organized Private Sector, the Nigerian Institution of Estate Surveyors and Valuers, different resident associations including Magodo, the Lekki Corridor, Apapa, Festac, Ikorodu etc, Estate Agents’ Association, Private medical practitioners association, hoteliers, and many others were at the public hearing and contributed significantly to its proceedings.
Some of the key issues discussed revolved around the Assembly’s intention to replace the phrase ‘market value’ of property, with just ‘value.’
Several commentators were worried that this may leave the term vague and made different suggestions as to how to get around this issue. Estate surveyors suggested that discounted market value may be the way to go.
Many respondents also hailed the impact of the Lagos State government so far especially regarding its efforts on infrastructure. They conceded that while it has done so well and they appreciate that indeed taxes make development possible, they called for moderation in the tax regime in order to enable Lagosians pay conveniently.
Commissioner of Finance, Mr Akinyemi Ashade, announced that the Executive had proposed a general relief rate of 50 percent, up from the 40 percent of old. He added that other reliefs included the charge rate for commercial properties which had been reduced to 0.45 percent (from 0.76 percent) while industrial charge rate had also been reduced to 0.230 percent.
Speakers at the event also raised the issue of “pensioner,” adding that any pensioner regardless of whether he worked at a pensionable office before retirement ought to benefit from the reliefs in the land use charge law.
The Speaker sought additional memoranda from members of the public, adding that members of the public were encouraged to submit memoranda to the committee for consideration over the next two weeks members.
Mr Obasa hailed the session as the best attended public hearing in the history of the Lagos State House of Assembly.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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