Osun reduces land rates

Governor Rauf Aregbesola has approved the reduction of rates for both commercial and residential land leases in Osun State.

The Commissioner for Lands, Physical Planning and Urban Development, Mr. Muyiwa Ige, said the reduction affected premium and development levies.

According to a statement by Ige, the reduction in rates will enable average indigenes of Osun State to realise their dreams of owning government land and at the same time attracting investors to the state.

He said, “The state government has further demonstrated its passion for the development of the good people of Osun by making government land affordable to all and sundry.

“This singular effort will, no doubt, increase the volume of socio-economic activities and attract investors.”

Ige said the rates introduced by the previous administration in the state were outrageous and not based on the socio-economic realities of the day.

Specifically, the commissioner alleged that the rates charged by the administration of Prince Olagunsoye Oyinlola had scared away potential investors from the state.