Section 135

An agreement for a lease, with respect to the letting of land or
building, shall be subject to duty on grant of a lease or sublease, or the assignment
of a lease, and shall be charged with the same duty as if it were an actual lease
made for the term and consideration mentioned in the agreement, provided
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that lease agreements for which the annual value is less than N 10,000,000 or
times the annual minimum wage, whichever is higher, shall not be chargeable
with any duty under Chapter Five of this Act.
Duty on