Following the decline in few performance parameters, the Lagos State authorities have generated N13.23 billion, out of the projected N15.9 billion from the Land Bureau in the 2010 fiscal year, which is about 81.61 per cent of the budget provision for the period under review.
Similarly, the state received 70 title applications for regularisation of high profile properties while approval was granted to 40 of them. From March 2010 to February 2010, a total number of 8,913 applications were received, while close to N4 billion was generated as revenue from that transaction.
In the area of compensation, the sum of N1.084 billion was paid as compensation between April 2010 and March 2011, compared with the same period in April 2009 and March 2010, where N1.61 billion was paid, made a slight higher from the former.
Speaking at the Commemoration ceremony, marking Governor Babatunde Fashola’s fourth year in Office, the Permanent Secretary, Land Bureau, Mr. Hakeem Muri Okunola, said while the revenue performance in year 2010/2011 is lower than that of 2009, the figure generated percentage wise is higher than the previous year.
According to Okunola, in the year 2010, the Bureau achieved 83.61 per cent performance, compared with the 66 per cent performance that was achieved in the year 2009. “Apart from the lower performance in revenue generation which was due to the global economic recession that affected almost all countries of the world, the Bureau was faced with the reality of almost all of its land schemes fully subscribed and closed for further allocation”.
Source: The Guardian Nigeria