Federal Government has announced a partnership with the World Bank Group to increase land formalisation to 50 per cent over the next 10 years, aiming to unlock over $300 billion in dead capital.
This announcement was made by the Minister of Housing and Urban Development, Musa Dangiwa, during the Nigerian Liveable Cities Workshop organised by the Ministry in collaboration with the World Bank, held in Abuja.
According to a statement on the Ministry’s website, the Minister emphasised the necessity of this partnership to conduct a National Land Documentation and Titling Programme, highlighting that less than 10 per cent of land in Nigeria is currently registered and titled, leaving its economic potential largely untapped.
“It is a comprehensive initiative that encompasses sub-programmes that are very important to us. This includes housing and land management, urban services delivery, climate change action, urban management and finance, and transportation,” Dangiwa noted.
He added: “As part of our land reforms we are exploring a partnership with the World Bank towards the implementation of a National Land Registration and Titling Programme.”
