Real estate in Edo, record property boom – Nigerian Observer


…as physical planning, ministries of education, EdoGIS generate revenue in Edo

The Edo Internal Revenue Service (EIRS) said the Ministries of Land Use Planning, Urban and Regional Development, Education and Edo Geographic Information Service (EdoGIS) were the main revenue generators. of the State in the first quarter of 2022.

This was revealed by the Chairman of Internally Generated Revenue (IGR) Working Group of Edo State Internal Revenue Service (EIRS), Hon. Jean Inegbedion.

He noted that the activities of the three government institutions enabled the service to achieve its monthly IGR target of N3bn.

Inegbedion revealed this during the service’s quarterly performance review meeting (January-March) held by EIRS management.

The boss of the IGR task force further thanked the area and branch managers as well as the department staff for their dedication and efforts to achieve the feat and continued growth.

The Ministry of Land, Urban and Regional Development, led by Isoken Omo, has been at the forefront of the government’s revenue mobilization campaign, with an ongoing campaign for the recertification of building plans , permits and other services.

The expansion of the state property and real estate market is closely linked to the absorption of revenue from the ministry. The frantic activity of real estate developers contributes to opening up new neighborhoods in the peri-urban fringes of the Beninese metropolis.

The income profile of EdoGIS is also tied to the real estate sector as individuals and corporations take advantage of state land reforms to secure their land holdings. The agency issues a Certificate of Occupancy (C-of-O) for land ownership.

Recall that during the last quarterly performance review meeting of 2021, and upon taking office as Chair of the IGR Task Force, Hon. John Inegbedion was tasked by Governor Godwin Obaseki with championing a robust tax administration for the state in accordance with budget provisions.

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