The Federal Capital Territory (FCT) Administration has issued and signed 26,272 Certificates of Occupancy (C-of-O) since President Bola Ahmed Tinubu assumed office, according to FCT Minister Nyesom Wike.
The figure represents an increase of 17,575 certificates compared with the 8,697 Certificates of Occupancy produced and signed between 2010 and 2023.
This was disclosed in a statement issued on Sunday by Lere Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media.
According to Olayinka, the administration of former President Goodluck Jonathan produced and signed 5,500 Certificates of Occupancy during its five-and-a-half years in office, while 3,197 were issued during former President Muhammadu Buhari’s eight-year tenure.
He noted that many beneficiaries of the 26,272 Certificates of Occupancy issued under the Tinubu administration had received their land allocations more than a decade ago.
Olayinka explained that obtaining a Certificate of Occupancy was important for property owners and businesses because the document could be used as collateral when seeking commercial loans, mortgages and funding for business expansion.
He said the difficulty in obtaining C-of-Os when needed had previously affected small and medium-sized businesses by limiting their access to finance.
According to him, the FCT Administration has now streamlined the process, allowing land allottees to obtain their Certificates of Occupancy within two weeks after completing the required payments.
He said, “The moment necessary payments are made, land allottees can now get their C-of-O within two weeks.”
Olayinka added that an automated notification system had also been introduced to alert land allottees once their documents were ready for collection.
He attributed previous delays to administrative inefficiencies, which he said discouraged some property owners from completing the necessary payments.
The statement further revealed that the FCT Administration approved 2,521 Consents to Assign and 177 Consents to Mortgage within the first three years of the Tinubu administration.
In comparison, the Jonathan administration granted 753 Consents to Assign and 180 Consents to Mortgage, while the Buhari administration approved 684 Consents to Assign and 164 Consents to Mortgage.
A Consent to Assign is a legal approval required before an interest in a property can be transferred, while a Consent to Mortgage is an official approval required before a property can be used as collateral for a loan.
BACKSTORY:
The Federal Capital Territory Administration has intensified efforts to improve land administration and property documentation in the nation’s capital under the administration of President Bola Ahmed Tinubu.
According to FCT Minister Nyesom Wike, the administration has signed 26,272 Certificates of Occupancy (C-of-O) since Tinubu assumed office, significantly higher than the 8,697 certificates produced and signed between 2010 and 2023.
The FCT Administration said the development is part of measures to address longstanding delays in the processing and collection of land documents.
Many of the beneficiaries of the newly issued certificates reportedly received their land allocations more than 10 years ago.
The administration has also introduced measures aimed at speeding up the process. According to the FCT authorities, land allottees who complete the required payments can now receive their Certificates of Occupancy within two weeks.
An automated notification system has also been introduced to inform beneficiaries when their documents are ready for collection.
The FCT Administration said easier access to Certificates of Occupancy would also benefit businesses, as the documents can be used as collateral for loans, mortgages and business expansion.
The administration further reported approving 2,521 Consents to Assign and 177 Consents to Mortgage during the first three years of the Tinubu administration.
