The Federal Ministry of Housing and Urban Development has commenced moves to address the issue of unregistered and untitled land in Nigeria, which currently accounts for 90 per cent of the nation’s landmass.
The Director of Information and Public Relations, Salisu Haiba, disclosed this in a statement on Wednesday. He said the ministry, in partnership with the World Bank Group, aims to unlock over $300bn in dead capital tied to untitled land, by launching a National Land Registration and Titling Programme.
This initiative was disclosed following a courtesy visit by the World Bank delegation, led by Vice President of Infrastructure, Guangzhou Chen, to the Minister of Housing and Urban Development, Ahmed Dangiwa, on Wednesday. The programme is expected to increase the formalisation of land transactions.
“This is very important to our government as over 90 per cent of land in our country is unregistered and untitled. Experts estimate a dead capital of over $300bn,” said Dangiwa.
