Wike Signs 26,272 FCT C-of-Os to Boost Businesses

FCT Minister Nyesom Wike has signed 26,272 Certificates of Occupancy (C-of-O) since President Bola Tinubu assumed office, as part of efforts to improve access to land documents and make it easier to do business in the Federal Capital Territory.

The figure is far above the 8,697 Certificates of Occupancy produced and signed between 2010 and 2023.

During the five-and-a-half years of former President Goodluck Jonathan’s administration, 5,500 C-of-Os were produced and signed, while 3,197 were issued during the eight years of former President Muhammadu Buhari.

Many of the beneficiaries of the 26,272 C-of-Os issued under the current FCT administration had received their land allocations more than a decade ago but were yet to obtain the necessary title documents.

A C-of-O provides property owners with recognised evidence of title and can also be used to support applications for mortgages, commercial loans and funds for business expansion.

The FCT Administration said delays in obtaining the documents had affected property owners and small and medium-sized businesses by limiting their ability to use their properties to secure financing.

According to a statement by Lere Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media, the administration has simplified the process for obtaining Certificates of Occupancy.

Land allottees who complete the required payments can now receive their C-of-O within two weeks, while an automated notification system has also been introduced to alert applicants when their documents are ready for collection.

The administration attributed some of the delays experienced in previous years to inefficiencies in the process, which discouraged some landowners from completing their payments and obtaining their documents.

Beyond the C-of-Os, the FCT Administration under Wike has also approved 2,521 Consents to Assign and 177 Consents to Mortgage within the last three years of the Tinubu administration.

These figures compare with 753 Consents to Assign and 180 Consents to Mortgage approved during Jonathan’s administration, while 684 Consents to Assign and 164 Consents to Mortgage were granted under Buhari.

A Consent to Assign is required for the transfer or sale of a property, while a Consent to Mortgage allows a property to be used as security for a loan.

The FCT Administration said the reforms are aimed at improving access to property documentation, supporting investment and making land administration more efficient for residents and businesses.