Land Value Capture Through Land Based Taxation: For Sustainable Infrastructure Finance In Anambra State, Nigeria
Keywords:Anambra State, Infrastructure finance, Land Based Taxation, Land Value Capture
Adequate infrastructure plays substantial roles in the economic development of nations. Over the years, Nigeria has failed immensely in the provision and maintenance of infrastructure. The Nigerian economy is yet to recover from the aftermath of the COVID 19 pandemic, and country is witnessing an all-time unimaginably high debt profile despite the rise in the international oil prices. In the midst of the above economic challenges, Nigeria is further plagued by hike in crude oil products, oil theft, relocation of major international oil companies out of Nigeria, and the payment of huge oil subsidies to private sector petroleum products marketing companies under questionable conditions by the government. All the above listed economic challenges have resulted in decreased public finance for effective governance. Land Value Capture (LVC) is a financing tool that is being successfully used for infrastructure financing in most developed countries. Some developing countries that have same socio-economic peculiarities with Nigeria also use it. However, it is currently being -utilized in Nigeria. This paper is a theoretical survey of the various systems of LVC taxes effectively in use in other countries, the state of property-based tax practices in Anambra State, Nigeria, the challenges and the way forward for achieving improved public revenue.
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Copyright (c) 2023 Chinwe Odimegwu, Mike Anyakora
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