The Lagos State government earned N57.92 billion from all land transactions conducted in the state within the last four years.

Permanent Secretary, Lagos State Lands Bureau, Mr. Hakeem Muri–Okunola, who gave the breakdown at a media briefing recently in Lagos, said the Bureau made N8.79 billion in 2007, N17.35 billion in 2008, N18.55 billion in 2009, and N13.23 billion  in 2010. He however noted that the amount generated in 2010 represented 83.21 percent of the projected revenue of N15.9 billion for the year.

“The revenue performance is however lower than the figure generated in the year 2009 but percentage wise, it is higher than the previous. That is in the 2010, the Bureau achieved 83.61 percent performance, while 66 percent performance was achieved in the year 2009,” he said.

Muri–Okunola explained that the global economic recession affected the performance of the Bureau, while also facing the challenge of fully subscribed land schemes which were closed for further allocation, adding however that the state government is working on new land schemes that will be provided with adequate infrastructure.

He said the bureau received 70 title applications from allottees of high profile Federal Government properties for regularisation, which became necessary because the properties belonged to the Lagos state government by historical record. He said that 40 of such applications were approved by the governor, while others are in various levels of attaining final approval, adding that 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.

“Without sounding immodest, the Bureau is going to work relentlessly to increase the revenue performance for the year 2010. This is due to the fact that the Bureau is going to intensify efforts on regularisation programme on the alarming rate of purchase of government acquired land and the erection of building on such land without approved development plans and valid titles.” he said, and assured of the state government’s resolve to build an effective and efficient land administration in the state and offer comprehensive service to the people.

Meanwhile, Muri_Okunola revealed that the Lagos state government has set aside N3.305 billion in the 2011 budget for the payment of compensation, noting that this should be enough to accommodate all the current financial liability for the payment of all compensation due in the year. “A way to avoid budgetary problem in the future is to ensure that all agencies requiring land for public project that will require payment of compensation must notify the Bureau on time before its budget proposal is made to the Ministry of Economic Planning and Budget,” he added.

On the revocation of right of occupancy and payment of compensation claims, he said that from April 2009 to March 2010, N1.61 billion was paid to communities and families, whose lands were acquired for public interest; while N1.084 billion was paid as compensation from April 2010 to March 2011.