The Bola Tinubu administration has issued 26,272 certificates of occupancy (C of O) to land allottees in the Federal Capital Territory since assuming office on May 29, 2023, to facilitate ease of doing business.

The FCT minister, Nyesom Wike, in a statement by his spokesperson, Olalere Olayinka, on Sunday, said the figure is 17,575 higher than the 8,697 produced and signed in previous governments between 2010 and 2023.

Mr Olayinka said, “To aid the ease of doing business in the Federal Capital Territory (FCT), and in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, a total of 26,272 Certificates of Occupancy (C-of-O) have been signed by the FCT Minister, Nyesom Wike, since the President assumed office. This is against a total of 8,697 produced and signed between 2010 and 2023.”

“During the five and half years administration of President Goodluck Jonathan, a total 5,500 Certificates of Occupancy were produced and signed while 3,197 were produced and signed during the eight years administration of President Muhammadu Buhari. 

“Many of the allottees who are beneciaries of the 26,272 Certificates of Occupancy produced and signed by the FCT Administration under Wike, got their allocations more than 10 years ago.”

Saying a Certificate of Occupancy functions as trusted collateral for commercial loans, mortgages, or business expansion capital, Mr Olayinka noted that the inability of property owners to get the certificates of occupancy when needed was one of the challenges facing small and medium businesses, thereby restricting access to funding.

Mr Olayinka, attributing the delays under previous administrations to inefficiency which discouraged land owners from completing payments, stated that Mr Wike appointed on August 16, 2023, and inaugurated on August 21, 2023, had since streamlined the process to enable land allottees receive their documents within two weeks of completing payments.

He said, “The moment necessary payments are made, land allottees can now get their C-of-O within two weeks. Automated notifications have been introduced to ensure that land allottees are informed when their documents are ready for collection.”

He added, “A total of 2,521 Consents to assign was granted while 177 Consents to Mortgage were granted in the last three years of President Tinubu’s administration, by the FCT Administration under Nyesom Wike. 

“This is against 753 Consents to assign and 180 Consents to Mortgage granted by the administration of President Jonathan as well as 684 Consents to assign and 164 Consents to Mortgage granted during the eight years government of President Buhari.”