By Our Correspondent<\/p>\n
In a bid to encourage business growth in the Federal Capital Territory and align with President Bola Ahmed Tinubu\u2019s Renewed Hope Agenda, FCT Minister Nyesom Wike has issued 26,272 Certificates of Occupancy since the current administration took over.<\/p>\n
That figure far outpaces the 8,697 land titles that were processed and approved between 2010 and 2023 combined.<\/p>\n
During the 5\u00bd-year tenure of President Goodluck Jonathan, 5,500 Certificates of Occupancy were issued.During President Muhammadu Buhari\u2019s 8-year tenure, 3,197 were issued.<\/p>\n
Many of the 26,272 beneficiaries under Wike\u2019s leadership at the FCT Administration had actually received their land allocations over a decade ago but were yet to get their official documents.<\/p>\n
Certificate of Occupancy serves as credible security for bank loans, home mortgages, and capital needed to expand businesses.
\nThe struggle to obtain C-of-Os on time has long been a bottleneck for small and medium enterprises, cutting them off from financing.<\/p>\n
According to a press statement issued by Lere Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media, the Tinubu-led FCT Administration has now fast-tracked the process. In a statement released on Sunday, he said landowners can now receive their documents within 14 days of making full payment.<\/p>\n
\u201cThe moment required payments are completed, land allottees can pick up their C-of-O within two weeks,\u201d Olayinka stated. <\/p>\n
He added that an automated alert system has also been rolled out so applicants get notified as soon as their papers are ready for pickup.
\nOlayinka blamed past delays on bureaucratic bottlenecks that discouraged people from completing payments.<\/p>\n
Beyond the C-of-Os, the Wike-led FCT Administration has also approved 2,521 Consents to Assign and 177 Consents to Mortgage in the last three years of President Tinubu\u2019s government.<\/p>\n
By comparison: Jonathan\u2019s administration granted 753 Consents to Assign and 180 Consents to Mortgage. Buhari\u2019s 8-year government granted 684 Consents to Assign and 164 Consents to Mortgage.<\/p>\n
A Consent to Assign is the legal clearance needed to transfer or sell a property, or to transfer loan obligations.
\nA Consent to Mortgage is the official approval required before a property can be pledged as loan collateral.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Our Correspondent In a bid to encourage business growth in the Federal Capital Territory and align with President Bola Ahmed Tinubu\u2019s Renewed Hope Agenda, FCT Minister Nyesom Wike has issued 26,272 Certificates of Occupancy since the current administration took over. That figure far outpaces the 8,697 land titles that were processed and approved between […]<\/p>\n","protected":false},"author":2,"featured_media":16810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/16808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=16808"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/16808\/revisions"}],"predecessor-version":[{"id":16809,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/16808\/revisions\/16809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/16810"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=16808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=16808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=16808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}