FG to Convert $300bn Worth of Unregistered Land into Viable Assets

247ng
4 Min Read

The Federal Government is taking steps to convert over $300 billion worth of unregistered land in Nigeria into economically viable assets.

In partnership with the World Bank Group, the Ministry of Housing and Urban Development is working to address the 90% of undocumented “dead capital” tied up in land assets. This collaboration was discussed during a meeting between Minister of Housing and Urban Development, Ahmed Dangiwa, and a World Bank delegation led by Vice President of Infrastructure, Guangzhe Chen, in Abuja.

A key focus of the partnership is the National Land Registration and Titling Programme, which will work alongside state governments. Dangiwa emphasized the importance of the initiative, noting that over 90% of land in Nigeria is unregistered and untitled, with an estimated value exceeding $300 billion.

“This initiative with the World Bank aims to register, document, and title all land parcels within five years; launch a National Digital Land Information System (NDLIS); and increase formal land transactions from less than 10% to over 50% in the next decade. We will also train and deploy competent land registration officers nationwide,” Dangiwa said.

The minister added that proper land registration and titling will provide states with new revenue streams through ground rents, certificates of occupancy, and taxes from increased real estate investments. These funds could be reinvested in urban services, helping to mitigate the impacts of climate change.

Dangiwa highlighted successful examples in Kaduna and Nasarawa states, where Geographic Information Systems (GIS) have been implemented to boost land registrations and generate significant revenue.

Another key area of collaboration is urban livability. Dangiwa emphasized the importance of the National Urban Development Policy, stating, “We need to create effective frameworks for managing our urban areas and improving service delivery, and the World Bank’s technical expertise will be essential.”

The minister also addressed barriers in the housing value chain, noting that removing these obstacles will encourage private investments in affordable housing. He pointed to a recent workshop on urban livability and the actionable plans being developed in partnership with the World Bank.

Highlighting the urgency of urban resilience, Dangiwa cited the recent flooding in Maiduguri, which displaced over 200,000 people, as an example of how climate change is affecting Nigerian cities.

Guangzhe Chen, World Bank Vice President for Infrastructure, said the bank is eager to support Nigeria in areas such as land administration, affordable housing, urban resilience, and digitization. He added that successful models from other West and Central African countries could be adapted for Nigeria.

World Bank Country Director Ndiame Diop affirmed that the outlined priorities will be fine-tuned into comprehensive programs. He also emphasized the need for urgent attention to land registration, with 90% of land remaining untitled posing a significant barrier to development. Diop noted that discussions with state governments are already underway, a key step towards implementing improved systems for land titling.

In closing, the ministry’s Permanent Secretary, Dr. Marcus Ogunbiyi, sought the World Bank’s support in building capacity for the ministry’s new staff, as many experienced staff members are retiring

Leave a comment

Share This Article
Explore with us! Email Updates
We respect your privacy.