REVIEWED FAIR MARKET VALUE RATE – EFFECTIVE 9TH DAY OF AUGUST, 2021
This is to inform the general public that Lagos State Government in consonance with the extant law has reviewed its Fair Market Value Rate after due consultation with relevant professionals in the built industry. It should be recalled that the rate review came into force in the Year 2015 and was duely published in the Lagos State of Nigeria Official Gazette number 10 Volume 48 of 5th February, 2015.
The Fair Market Value Rate is subject to review every 5 years to ensure it is in tune with the economic realities of time. To this end therefore, the Fair Market Value Rate has been prepared and published in the Lagos State of Nigeria Official Gazette Number 9 Volume 54 of 15th March, 2021 and shall be implemented as from the 9th day of August, 2021.
The copy of the Official Gazette can be procured at the Lagos State Cabinet Office, Block 1, The Secretariat, Alausa Ikeja for public use. We appreciate your usual cooperation with the State Government in ensuring compliance with ease of doing business in the State.
Permanent Secretary (Lands Bureau)