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Nairametrics
Home Sectors Real Estate and Construction

FCT to now charge N5 million for C-of-O

Chike Olisah by Chike Olisah
November 21, 2023
in Real Estate and Construction, Sectors
Governor Nyesom Wike

Governor Nyesom Wike

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said that the FCT Administration has pegged cost of issuance of Certificate of Occupancy (C- of-O) at N5 million.

This was disclosed by Wike at a meeting he held with estate developers on Tuesday, November 21, 2023, in Abuja.

Wike said payment could be made within 4 months of land allocation after which the C-of-O would be handed over to the applicant.

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He added that he would seek the approval of President Bola Tinubu to link applicants’ National Identification Number to C-of-Os before issuance.

No more land allocation to 3 or more people

Wike said the era where three or more persons were allocated the same plot of land with fake C-of-O was over.

The Minister said,

  • “Allocation of land to three or more persons will no longer be allowed because the C-of-O enables you to do business.
  • “When we make the right decision, some people will be happy, and some will not. The rich will kick against some of our decisions, but anything that will help our people must be done.’’

He promised to ensure orderliness and sanity in land administration system and processes in the FCT.

N110 billion saved in 3 months

The minister expressed worries that workers’ salaries at the FCT Administration and the Federal Capital Development Authority gulped N8.9 billion monthly.

Wike said he had saved N110 billion for the FCT barely three months into office and assured that the funds would be attached to specific projects.

He inaugurated a taskforce on the issuance of Certificate of Occupancy (C of O) for housing estates and the recovery of land use contravention fees on Nov. 14.

He explained that the measure was to ensure that each unit in the housing estates had its separate C-of-O.

What you should know

  • Recall that at the inauguration of the task force on the issuance of the C of O, Wike lamented that virtually all residential areas have been turned to commercial, adding that something must be done about it.
  • He said that those who contravened the Land Use Act must be recertified and pay penalties.
  • He explained that those given approval for residential buildings have converted to commercial structures, while those given for commercial also contravene by building residential houses.
  • The minister said that government agencies in charge of land administration in the FCT were part of the problem, adding that the agencies were included in the task force to solve the problem they created.

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Tags: certificate of occupancyFederal Capital Territory Administration (FCTA)Nyesom Wike
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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