Government has introduced a new payment structure requiring buyers of public lands to pay at least 70 percent of the land’s assessed market value upfront.
Deputy Minister for Lands and Natural Resources, Alhaji Yussif Sulemana, announced the policy during a press briefing on the implementation of reforms aimed at improving public land administration.
Under the new arrangement, the remaining 30 percent of the payment will be spread over the lease period as ground rent.
According to the Deputy Minister, the reform forms part of a broader strategy to enhance value for money in the allocation of public lands.
“A minimum of 70 percent of the assessed market value of public land will be paid upfront as a premium,” he said.
“The remaining 30 percent will be structured over the tenure of the lease as ground rent,” he added.
He explained that the revised premium framework is expected to strengthen government revenue and ensure that public lands are allocated in ways that align with national economic interests.
“This reform is intended to promote value for money, enhance revenue generation for the State, and ensure that public lands are allocated in a manner consistent with national economic interests,” he stated.
Source: Starrfm.com.gh
