Estate surveyors urge govts to explore land-based IGR

Estate Surveyors and Valuers have identified Land Titling as a veritable source of internal revenue generation and called on the three tiers of government to explore the opportunity. In their separate presentations at the 2017 Mandatory Continuing Professional Development Seminar with theme; “Land titling-a stimulant for property investment and internally generated revenue” in Minna, Niger […]

Estate Surveyors and Valuers have identified Land Titling as a veritable source of internal revenue generation and called on the three tiers of government to explore the opportunity.

In their separate presentations at the 2017 Mandatory Continuing Professional Development Seminar with theme; “Land titling-a stimulant for property investment and internally generated revenue” in Minna, Niger State, experts were unanimous that land administration plays important role in generating public revenue for infrastructural development.

They disclosed that land administration is the second largest sources of   revenue for the Lagos State government, adding that the state netted over N15 billion from Land Use Charge (LUC) alone in 2015 and2016.

“Effective land titling will promote greater confidence in land markets, boost economic development and invariably increase revenue to be generated from land related transactions”, they noted.

They pointed out that internally generated revenue derived from land rights, use and administration is less susceptible to variations in local and international economic conditions.

They suggested the production of large scale cadastral maps; systematic acquisition of satellite imagery; automation and development of modern day tools to land administration process for fast and effective service delivery and capacity building for policy makers, managers and custodians of land among others as ways to driving the process.