FG generates N1.289 billion from ground rent in three years

By Daniel Tyokua

The Federal Government has generated N1.289 billion from ground rent within the period of three years.

Director lands and housing development department, Federal Ministry of Works and Housing, Mrs. Great Edereka disclosed this during the 26th conference of directors of lands in the federal and state ministries, held in Abuja on Tuesday.

She said the amount was generated from ground rent, registration, premium, consent and penalties amongst others.

The director explained that the ministry chunked out 50 numbers of property titled weekly.

According to her, from 2007 to date, the ministry executed 3,200 Certificates of Occupancy, CoOs, with 518 secondary transactions.

“The federal ministry of works and housing chunked out 50 properties daily, 2007 till date the ministry has executed 3,200 Certificates of Occupancy while from 2019 to date the ministry consensused 518 secondary transactions.

“However from 2017 to date, N1.289 billion has been generated from ground rent, premium, consent, registration, penalties amongst others” She said.

Mrs Edereka called on directors in the land administration sector and stakeholders to evolve measures that will tackle cases of land without titles which lead to conflicts.

She said land titling will assist the owners have access to loans as well as genuine collateral for loan, even improve the titled holders economy.

The director revealed that the Federal Government land reform committee in place was doing its best to ensure that all grey areas relating to land matters are well addressed.

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