The Lagos State Government has announced a three-month extension of its amnesty program for property owners and developers lacking Planning Approvals. This extension, effective from August 1st to the end of October 2024, provides a crucial relief measure for many in the real estate sector.
As a real estate developer deeply involved in Lagos’ bustling property market, I appreciate the foresight of Governor Babajide Sanwo-Olu and his administration in recognizing the challenges developers face and responding with such a timely initiative.
The announcement was made by Oluyinka Olumide, the Commissioner for Physical Planning and Urban Development, in Alausa, Ikeja. The decision was prompted by the overwhelming number of applications received since the program’s inception, underscoring the significant need for this measure among Lagos developers.
The economic climate has been unforgiving, making the financial implications of securing permits daunting. This extension is a lifeline, allowing developers to regularize their projects without the burden of penal fees.
It demonstrates the government’s understanding of current economic hardships and its commitment to fostering a more organized and sustainable built environment.
The extension is a cause for celebration among developers for several reasons. First, waiving penal fees removes a significant financial burden, enabling more developers to comply with planning regulations. This encourages a culture of timely and responsible development practices. Additionally, an added discount for payments made within ten working days further incentivizes prompt compliance.
These financial reliefs are crucial, particularly in an economic landscape where every naira saved contributes to the viability of a project.
Beyond easing financial strain, this initiative encourages a more compliant and orderly development process across Lagos State. By taking advantage of this amnesty, developers can ensure their projects meet all regulatory standards, contributing to a safer and more aesthetically pleasing urban landscape. Compliance with planning approvals is essential for creating a city that is not only beautiful but also functional and safe for its inhabitants.
However, this opportunity should not be taken lightly. It is crucial for my colleagues in the real estate industry to seize this chance. We must submit the required documents, secure our planning permits, and bring our projects into full compliance with the state’s regulations.
This is not just about avoiding penalties; it is about contributing to the vision of a well-planned, livable Lagos that we all aspire to create.
This extension represents a significant step towards a more organized and sustainable Lagos. It reflects the government’s empathy and proactive approach in addressing the needs of the real estate sector.
I commend Governor Sanwo-Olu, Dr. Oluyinka Olumide, and the entire administration for their visionary leadership.
The Lagos amnesty extension calls on all developers to take this opportunity seriously. By regularizing our projects and adhering to planning standards, we contribute to the city’s development and ensure we remain law-abiding citizens dedicated to the progress of our beloved Lagos State. Let us work together to build a Lagos that is not only prosperous but also orderly and compliant with all regulatory standards.
This moment presents a unique opportunity for us all. I am confident that with collective effort, we can achieve a more organized, livable, and sustainable Lagos. Let us embrace this chance to contribute positively to our city, fostering growth and compliance in a thriving urban environment.
Dr. Oluwatosin Olatujoye, Founder of Zylus Group International