#Financial news

Ondo shares N48m LUC revenue with LGs

Ondo shares N48m LUC revenue with LGs

By Fatima Muraina
Ondo State  Government has shared the sum of N48m revenue  generated from the Land Use Charge for 2018 with the 18 local government areas  in the state.

    The State Commissioner for Finance, Mr Wale Akinterinwa, speaking at the occasion said the sharing was fulfilling government’s  promise that whatever accrued will be shared with all the local government  as stipulated by the law.

He implored the local government chairmen to put up laudable programmes and to be part of the Board of Internal Revenue as he congratulated them for the success recorded.

Chairman of the Board of Internal Revenue (BIR), Mr Tolu Adegbie, presenting the statement of account for the year under review said the N48million was generated during previous years,  noting that the local governments had never benefitted such revenue until now.

He said the sharing was done as stipulated by the Land Use Charge law of 2014 which he said stated that the state  takes 80 percent  while the local government take 20 percent.

He disclosed that the money generated were from  only three local government areas  which are Ondo, Akure and Owo where  sensitization had been done.

He called for  the support of the local government chairmen in promoting LUC collection in their areas.

 Commissioner for Local Government and Chieftancy Affairs, Mrs Lola Fagbemi noted that the success recorded has not only brought an increase to the state IGR but also brought about  employment of young people.

Fagbemi urged the Local government chairmen to let the people see the impact of the money .

She however pleaded with the state government to amend the law in  the area of the sharing formular to avoid it being, what she referred to as  a big master-servant relationship.

The ALGON chairman Mr. Augustine Oloruntogbe noted that there will be more development   if carrying local government areas are carried   along.

He applauded the present administration for it’s prudence, articulate and diligent planning .

Ondo shares N48m LUC revenue with LGs

EKSU warns defiant students

Ondo shares N48m LUC revenue with LGs

Ramadan: Pray for Nigeria- Opeyemi Bamidele

Leave a comment

Your email address will not be published. Required fields are marked *