Lagos Property Owners Receive N1bn Compensation

The Lagos State Government has released over N1.025bn as compensation for owners of landed properties affected by development activities in the state. The Lagos property owners are to divide the compensation grant among themselves.

According to a statement by the state Lands Bureau, the compensation was paid to those whose landed properties and buildings were acquired for overriding public interest in conformity with the provisions of the Land Use Act.

The beneficiaries of the compensation include owners of buildings affected by the ongoing expansion of the Lagos-Badagry Expressway; land owners in Isiwu community in Ikorodu, as well as the owners of land and buildings affected by the ongoing expansion of Ago Palace Way in Okota.

Those whose compensation packages are under processing include those affected by the expansion of the Ikorodu Road, Lekki/Epe airport project, and the re-settlement project for the Lekki Free Trade Zone, among others.

Source: THE PUNCH