The governor spoke at the signing into law of the State Land Use Charge Law.
He added that successive administrations had so much relied on the allocation that when the shortage came, it could no longer pay salaries and other critical expenditure of government.
The main objective of the newly signed law, he explained, is to generate additional revenue and also provide for a single property charge which replaces all other state and local governments’ taxes on real property, including taxes such as tenement rates, ground rents and neighbourhood improvement charges.
“The lesson we are taking from the situation is that living on other people’s bakery is never reliable. It is high time we started to bake our own cake, if we don’t want to starve.
“By this new legislation, once the Land Use Charge is imposed upon a property, the rates and charges which were hitherto payable under the old legislations will no longer be applicable and due on the same property.
The Coordinating Director, Bureau of Lands, Tayo Hassan, said the implementation of the law will assist the state to increase its resources and revenue.
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