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Tag: Mr. Akinyemi Ashade

  • Lagos reduces land use charge rates, waives penalty for late payment

    …Grants 50% Reduction on Commercial Charges, 25% For Owner-Occupier, Manufacturing Concerns

    … Gives Tax Credit for Payment Already Made, Introduces Instalment Payment Plan

     

    Following extensive deliberations with stakeholders on the new rates payable by property owners under the Lagos State Land Use Charge (LUC) Law, the State Government on Thursday announced a major reduction in the rates and as well waived the penalty for late payments across board.

    The State’s Commissioner for Finance, Mr Akinyemi Ashade, who disclosed this while addressing a press briefing at the Bagauda Kaltho Press Centre in Alausa on the outcome of dialogue with stakeholders, said the rates payable on commercial properties have been reduced by 50 per cent in response to the demands of the people.

    He said the government has also reduced the charges for Owner-occupier with third party including industries and manufacturing concerns by 25 per cent, while tax credits has been given for LUC charges already paid in addition to introduction of instalment payment system.

    Ashade, who addressed the briefing alongside dozens of Executive Council members and top government functionaries, said the decision to reduce the rates was taken at the weekly Council Meeting held on Wednesday and Chaired by the State Governor, Mr Akinwunmi Ambode.

    He said: “The Lagos State Government, in its desire to build world class infrastructure and improve the well-being of its citizens reviewed the Land Use Charges payable by all property owners. This exercise was received with mixed feelings by various interest groups who expressed serious concerns.

    “In line with this administration’s tradition of inclusive governance and civic engagement, and as a Government that is committed to the welfare of its citizens and understands the importance of continuously engaging the populace, we undertook extensive dialogue with various stakeholders on the Land Use Charge (“LUC”) revised Law and its implementation.

    “Consequently, we received a wide range of responses from our dialogue with various stakeholders on the amended LUC Law 2018. The stakeholders included the Organised Private Sector, Nigeria Bar Association, Real estate investors & developers, Landlord & Resident Associations, Community Development Associations, Civil Society Organisations, Lagos Chamber of Commerce and Industries (LCCI), Nigeria Institute of Estate Surveyors &Valuers and several other professional groups.”

    Giving a breakdown of the reduction, Ashade said for commercial property owners who were mostly affected by the amended law, a property valued at N20million for instance which was earlier billed N91,200 will now pay N45,600 per annum as a result of the 50 per cent discount, while property occupied by owner, third party and property used for industrial and manufacturing purposes will now pay N23,040 per annum on a property valued at N20million as against the earlier N30,720 based on the 25 per cent discount.

    On owner-occupied property, the Commissioner explained that for a property valued at N20million, only N7,752 will now be paid per annum as against N9,120 earlier demanded based on 15 per cent discount.

    He added: “Other rates and reliefs, apart from the ones stated above, will remain unchanged and will be implemented as stipulated by the Law. These include 40% general relief, 10% for 70 years and above, 10% for properties owned by persons living with disability and 10% for properties that are 25 years old and so on and so forth. Owners of Property across all categories will now be allowed to make payments by instalments. This will help to reduce the burden of taxation on our citizens.

    “We appreciate and commend property owners of all categories who have performed their civic duties faithfully by paying the LUC. Consequently, as a result of these new measures, those who have paid the original amount will be awarded tax credits to the extent of the excess amount paid and carried forward to next year,”  Ashade said.

    He added that in a bid to create a framework to empower property owners with self-assessment, the executive would forward a regulation to the House of Assembly for review of applicable rates and regime of reliefs on categories of properties pursuant to LUC Law.

    While appreciating stakeholders for trusting the current administration with the responsibility of investing the revenue from LUC in infrastructure renewal and overall development of the State, Ashade urged them to endeavor to participate effectively in the legislative proceedings going forward.

    Besides, the Commissioner said the reduction would be implemented immediately as there were provisions within the LUC law which empowered the government to carry out necessary adjustment to cushion the effect of implementation.

    Also, Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem said under the amended law, there is provision for establishment of five tribunals out of which one has been created in Ikeja and now operational, while the remaining four would be established in other administrative divisions of the State in Epe, Badagry, Ikorodu and Lagos Island.

    He said the law also makes provision for aggrieved tax payers to ventilate their grievances within forty-five days through a mediation process, adding that so far over 80 cases have been resolved through mediation.

    Read Also: Land Use Charge: Dialogue will lead to positive outcome, says Ambode

  • Lagos 2018 budget may hit N1trn – commissioner

    Lagos 2018 budget may hit N1trn – commissioner

    The Lagos State Government on Tuesday said that its yearly budget might hit N1 trillion by 2018.

    The state also plans to generate N50 billion internal revenue per month by next year.

    Mr Akinyemi Ashade, the state Commissioner for Economic Planning and Budget, said this at the ongoing ministerial briefing to commemorate the second year in office of Gov. Akinwunmi Ambode.

    The News Agency of Nigeria (NAN) reports that the size of the state’s 2017 budget is N812.998 billion, while that of 2016 was N662.588 billion.

    According to Ashade, to achieve the trillion naira budget, the government will adopt strategies such as aggressive growth in IGR through taxes and non-tax revenues.

    He said that other strategies would include full deployment of Oracle Business Solutions to eliminate revenue leakages, sustainable fiscal balance with the appropriate level of public sector borrowing and acceptable aggregate public debt.

    “We shall foster a robust environment for increased private sector investments through Public-Private Partnership (PPP) initiatives and other strategies for increased Foreign Direct Investment (FDI) as initiated by Office of Overseas Affairs & Investment (Lagos Global),” he said.

    Ashade said the ministry had continued to support the administration by evolving clear planning parameters to achieve the agenda of the government as adopted in the Lagos State Development Plan (LSDP) 2012-2025.

    He said that during the period under review, the ministry was able to manage the economy of the state through the prudent and stringent management of available resources.

    He said that this was to ensure its desire to meet revenue projection of N30 billion monthly in 2017 and N50 billion monthly in 2018 through improvement on the various reforms.

    Ashade said that in ensuring a strict implementation of the 2017 budget, the government had resolved to continue to ensure tighter control of recurrent expenditure.

    “This is to free up funds for the capital proceeds, while still maintaining a periodic review of performance through the quarterly budget,” he said.

    Ashade said the state government had also developed the State-wide Monitoring and Evaluation policy to ensure accountability, effective service delivery, and success reporting.

    He said that once this policy became operational, project monitoring activities would be intensified to ensure that the people got value for money they spent.

  • Lagos gets N3.8billion to tackle HIV

    Lagos gets N3.8billion to tackle HIV

    Lagos State Government Tuesday disclosed that it has received the sum of N3.8 billion ($9.6million) from Global fund to help tackle HIV/AIDS in the state.

    State Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade, who disclosed this while briefing   journalists in Alausa , said the fund will be used for the implementation of comprehensive HIV Prevention, Treatment, Care and Support program across 70 health facilities in the 3 LGAs of Epe, Ikorodu and OshodI Isolo.

    Ashade said about 10,337 numbers of People living with HIV adding that a total of 3,876 of these affected persons are children.

    He said the state Governor, Mr. Akinwunmi Ambode, visited Global Fund in New York sometimes in June 2016, to reassure them of his commitment to the judicious use of the grant meant to reduce new HIV infections, and improve the quality of life for the infected, affected persons.

    The commissioner added the received grant would assist 289,344 persons known their HIV status, 17,049 People Living with HIV (PLHIV) to be placed on treatment, 54,140 pregnant women will be tested for HIV and 2,131 HIV positive pregnant women will receive treatment for the prevention of mother to child transmission.

    According to him, “achieving these targets will not only contribute to the improvement in their quality of life but also reduce the HIV prevalence.

    He said the government has projected N50billion monthly Internally Generated Revenue (IGR) for year 2018 and a budget size of N1trillion.

    He said the government is able to manage the economy of the state through prudent and stringent management of available resources so as to realise the N30bn monthly IGR projected for 2017.

    The commissioner explained that the state Bureau Of Statistics place the population of the state at 23 million adding that currently only 5 million of the population are paying tax in the state.

    He said it is expected that by next year additional 5 million people would have been drag into the tax net so as to realise the objective.

  • Budget: We’ll consolidate on modest achievement – Ambode

    Budget: We’ll consolidate on modest achievement – Ambode

    …Gov Delivering On His Promises, Says Speaker

    Lagos State Governor, Mr Akinwunmi Ambode on Monday signed the N812.998bn Y2017 Appropriation Bill to Law, with a promise that it would be judiciously implemented to consolidate on the modest milestones recorded in the last 18 months and propel the State to a path of prosperity.

    The Governor, who spoke at a brief but impressive ceremony, held at the Lagos House, Ikeja, said the 2017 budget, christened, “Golden Jubilee Budget” was his administration’s contract with Lagosians to continue to build an all-inclusive economy throughout the year.

    The Governor thanked the Speaker and members of the House of Assembly for their forthrightness and speedy consideration and approval of the Appropriation Bill, which he presented to the House on November 29, 2016, and was passed to Law on January 3, 2017.

    He said the N812.998bn Y2017 budget was in line with the State Development Plan 2012-2025, the Medium Term Expenditure Framework for 2017-2019, based on the State’s Four Pillars of Development Plan which include: Infrastructure Development, Economic Development, Social Development and Security as well as Sustainable Environment.

    Governor Ambode, while assuring that his administration would immediately hit the ground running to implement the budget, expressed optimism that the national economy would begin a path of recovery this year.

    “We are encouraged by the budget performance of last year (2016) which stood at 78 percent. Our total Capital Expenditure in 2017 will be N507.816bn while Recurrent Expenditure is estimated at N305.182bn.

    “Our government is committed to prudent financial management and equitable allocation of resources for the general good and will ensure proper fiscal discipline in the implementation of this Appropriation Law,” Governor Ambode said.

    While alluding to the fact that obligations and duties of citizens like tax payments have become noticeably better, self-induced and encouraging, Governor Ambode sought the cooperation and understanding of all taxpayers to successfully implement the budget, saying that government would continue to strive harder to improve service delivery in all sectors.

    “We encourage all taxpayers to continue in this spirit and also take advantage of available multi-pay channels in fulfilling their civic obligations. Do not pay to touts or illegal channels. Make sure your tax payments count. We are doing everything to eliminate poor services to you,” he said.

    In his goodwill message, Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, said the judicious implementation of the 2016 Budget by Governor Ambode, against all odds, has gone a long way to confirm his financial expertise.

     The Speaker, who was represented at the event by the Chairman, House Committee on Appropriation, Hon. Rotimi Olowo, said many laudable projects including the construction of 114 Roads across all the local governments in the state within a year was a first in the history of Nigeria.

    “That means by 2023, just in eight years, he would have done over 1,000 roads in addition to what the Ministry of Works and Public Works Corporation is doing.

    “Another area that is unbeatable is the ‘Light up Lagos’, which no doubt increases the economy of our mothers and fathers. That is in tandem with Article of Faith as entrenched in the 1999 Constitution, which summarily explains that the Governor is determined and committed,” the Speaker said.

    Earlier, Commissioner for Finance, Mr Akinyemi Ashade who gave a breakdown of the budget, said a total of N507.816billion has been earmarked for capital expenditure, while N305.182billion is for recurrent expenditure making up a total expenditure of N812.998billion and an aggregate capital to a recurrent ratio of 62:38.

    Ashade, who is also the Commissioner overseeing the Ministry of Finance, said Year 2017 budget which would largely be driven by Internally Generated Revenue (IGR) made up of taxes, rates, levies and others, would be focused on continuous promotion of massive investments in security, infrastructure, transport/traffic management, physical and social infrastructural development, environment, health, housing, tourism, power, e-governance, education, agriculture and skill acquisition.

    While explaining the sectoral breakdown of the budget, Ashade said a total of N141.692billion was earmarked for roads and other infrastructure, while Agriculture and Food Security got N4.795billion with Tourism and Environment getting N20.247billion and N24.031billion respectively.

    A further breakdown of the budget showed that Water got N20.082billion; Housing, N50.344billion; Health, N51.447billion; Sports Development, N9.457billion; Education, N92.445billion; Commerce and Industry, N1.500billion, Wealth and Employment Creation, N6.250billion; Women Affairs, N2.193billion; Youth and Social Development, N2.698billion; Governance, N11.193billion; Science and Technology, N11.000billion; Security, Law and Order, N39.722billion, while N3.800billion was set aside for the 7.5 percent Government Share to Pension Contribution and N7.150billion for Pension Redemption Bond Fund-Shortfall.

    On Transportation, Ashade said N49.077billion was earmarked for the Blue Rail Line, advancement of the 10-Lane Lagos-Badagry Expressway, construction of jetties and terminals especially for the Epe and Marina Shoreline Protection and procurement of ferries to improve on water transportation and encourage tourism, while also disclosing that attention would be paid to the expansion of BRT corridors in Oshodi-Abule-Egba, and other corridors.

  • Ambode redeploys Ashade as commissioner for finance

    Lagos State Governor, Mr. Akinwunmi Ambode has redeployed the Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade to take over as the Commissioner for Finance.

    In a statement signed by his Chief Press Secretary, Mr. Habib Aruna, the Governor made the decision shortly after the State Executive Council meeting on Wednesday.

    Ashade is expected to resume his new portfolio with immediate effect.

    Governor Ambode, however, said Ashade would still oversee the Ministry of Economic Planning and Budget pending when the State Executive Council would be reshuffled.

    It would be recalled that Governor Ambode on Wednesday, October 19, on Wednesday carried out a cabinet reshuffle with the dropping of the Commissioners for Tourism- Mr Folorunsho Folarin-Coker; Finance, Dr. Mustapha Akinkunmi and Transportation, Dr. Ekundayo Mobereola.

    Mr. Ashade was until his appointment by Governor Akinwunmi Ambode, a Partner at KPMG Professional Services, one of the big 4 international professional services firm with specialisation in audit, tax and advisory services. With over 16 years of professional experience with KPMG Nigeria and extensive skills in financial services industry, project and quality assurance management and public private partnership, he is surely a round peg in a round hole.

    A Chartered Accountant and Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Ashade was born in Badagry on 6th October, 1975. He had his primary education at Anglican Primary School, Ilado, Badagry between 1981 and 86 and proceeded to Iworo Ajido High School, Badagry where he passed the West African School Certificate of Education in 1992 before proceeding to University of Lagos where he graduated with B.Sc (second class upper division) in Biology in 1997.

    Ashade joined KPMG (then Arthur Andersen, Nigeria) in March, 1999 and this provided an opportunity for a career change to Accounting. He became chartered in 2004 and was admitted as a partner in KPMG 2013. In 2015, he was appointed a Fellow, Institute of Chartered Accountants of Nigeria.

     

  • Lagos signs MoU with AWIEF to empower women entrepreneurs

    Lagos State Government on Tuesday signed a Memorandum of Understanding (MOU) with African Women Innovation and Entrepreneurship Forum (AWIEF) expected to facilitate the process of ensuring that women entrepreneurs have access to $300 million fund to boost their businesses.

    The State’s Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade, who disclosed this to journalists Tuesday at a media briefing at the Bagauda Kaltho Press Centre in Alausa, said the $300 million is a women’s Economic Empowerment Fund set aside by African Development Bank (AFDB) for empowering African women.

    Ashade said, “Lagos Women Economic Empowerment Initiative (LAGOSWEEIN) is an initiative designed for the women of Lagos state for the purpose of ensuring entrepreneurial capacity building, business skills upgrade and preparedness as well as to facilitate access to finance and other services within the framework of affirmative Finance Action.

    “Today’s signing of partnership agreement is a milestone between Lagos State and AWIEF and all women in the state. This partnership is reaching a major step in line with Governor Ambode agenda for women in the state, towards their strategic economic empowerment.”

    The commissioner further explained that the other partnership highlights include training, business coaching and technology transfer of the women through a detailed standard operating procedure.

    He assured that the state government will honour its own part of the agreement which is to pay as and when due invoices presented by AWIEF based on mutually agreed budget.

    The commissioner noted that exploring the collaborative opportunity in the state to derive maximum benefits for women-owned businesses is indeed a great opportunity for the entire state as it guarantees business and social development, financial freedom for Lagos women among many others.

    Also speaking, the founder of AWIEF, Irene Ochem commended the state government for partnering with her organisation in empowering women.

    According to her, the biggest challenge women entrepreneur faces is access to fund, which also informed why AFDB came up with opportunities for women to have access to finance.

    “We are very passionate about women empowerment and partnering with Lagos with the largest business women is a worthy one.”
    Ochem pointed out that the fund is for every business women with no restriction of sectors, adding that the partnership is important as it would be about training and capacity building.

    Earlier, the Chief Executive Officer (CEO) of Rhoda Michaels Fashion Academy, Mrs. Agbeyo Rhoda, expressed concerns about the large number of creative youths in Nigeria yet to put their talents into good use.

    She encouraged all the students to be part of the initiative, saying, “If all can be part of this, it will in no doubt grow the economy of this country”.

  • Creating value for Lagosians remain my top priority – Ambode

    Creating value for Lagosians remain my top priority – Ambode

    Lagos State Governor, Mr. Akinwunmi Ambode on Friday expressed total commitment to the actualization of the various initiatives put in place by his administration towards making life better, simpler and more prosperous for the people, just as he assured that the State would witness massive transformation in critical sectors in the next six months.

    Speaking in Badagry at the opening session of a two-day retreat organised by the State Government for members of the State Executive Council and Body of Permanent Secretaries, Governor Ambode said creating value for the people remained top priority for him, and that government was ready to partner with any individual, corporate organization and indeed the private sector towards achieving the set goals.

    The retreat tagged: “Reflect, Reappraise, Restrategise: Raising the Bar of Governance,” is the second in the series, and was held at the VIP Chalets, Badagry.

    Governor Ambode, in his remarks, said the everyday challenge for him and his team in the last thirteen months was all about adding positive value and taking decisions only in the best interest of the people.

    He said: “This government is about creating value for our people. That is the whole essence of our coming together as a team. It is all about seeing to what extent can we create value for Lagosians.

    “That is our everyday challenge that the people have seen in the last thirteen months. I believe strongly that creating value is the central focus of everyday decision we have taken at the Exco level and even the Body of Permanent Secretaries level.

    “We are all out to give positive value to Lagosians. We don’t want to make life difficult for people and we also want to ensure that in every decision that we make, the overall interest of the larger populace is actually affected positively.

    “In the next six months, a totally different Lagos you will see because the kind of initiatives that we have set up that are actually work in progress now, we will release and unleash them and the people will obviously see that we are very focused on making life easier for them,” the Governor said.

    Going into specifics, Governor Ambode said government would focus on changing for good the transport system in the State and equally partner with the private sector in maintaining a clean environment.

    “We do not think Lagos deserves the kind of transport system that it has now. We also think we need to intervene with the private sector to deal with the issues that relate to environmental sanitation,” he said.

    The Governor, who commended the members of the State Executive Council and Body of Permanent Secretaries for partnering with him since assuming office, however urged them to continue to stay focused on the journey to transform the State.

    He said a lot had been done, but that more still needed to be done, and that all hands must be on deck to move the State forward, one of the reasons he said necessitated the retreat to appraise what had been done and chart way forward.

    Speaking on the retreat, the State’s Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade said the main purpose of the retreat was to raise the bar of governance with the view to ensuring that the manifestos of the present administration are fulfilled in a seamless manner and to refine the implementation plan for the next three years.

    He said aside the fact that the holding of the retreat in Badagry goes a long way to show that all the part of the State is secured and that government has remained focused to its commitment of all inclusive governance, the retreat was also about focusing more on critical sectors such as transportation, environment, and job creation, among others.

    On his part, Commissioner for Tourism, Arts and Culture, Mr. Folorunso Folarin-Coker said the State Government would soon role out massive programmes on tourism and that Badagry would feature prominently in that regard. He said the Black Heritage Festival in the ancient town, among others would be celebrated.