FCT: Wike signs 26,272 Certificates of Occupancy under Tinubu

Since President Bola Ahmed Tinubu took office, the Federal Capital Territory (FCT) Administration has issued 26,272 Certificates of Occupancy (C-of-O), according to FCT Minister Nyesom Wike. This is a significant increase of 17,575 compared to the 8,697 C-of-O produced under the previous administration from 2010 to 2023. Senior Special Assistant to the FCT Minister on Public Communications and Social Media, Lere Olayinka, revealed that during former President Goodluck Jonathan's five-and-a-half-year tenure, 5,500 C-of-O were issued, while his predecessor, Muhammadu Buhari, oversaw the issuance of 3,197 during his eight-year term.

Olayinka noted that many of the beneficiaries of the 26,272 C-of-O had been waiting for their land allocations for over a decade. He emphasized the importance of C-of-O to businesses, as these documents can serve as collateral for commercial loans, mortgages, and business expansion. Without the necessary Certificates of Occupancy, businesses face challenges in securing funding, which hinders their growth and development.

The FCT Administration has streamlined the process, enabling land allottees to receive their C-of-O within two weeks of completing the required payments. An automated notification system has been introduced to ensure that landowners are promptly informed when their documents are ready for collection. This initiative aims to eliminate past inefficiencies that discouraged some landowners from completing their payments.

In addition to the C-of-O, the FCT Administration has granted 2,521 Consents to Assign and 177 Consents to Mortgage during the first three years of President Tinubu's administration. This figure surpasses the 753 Consents to Assign and 180 Consents to Mortgage issued during the Jonathan administration, as well as the 684 Consents to Assign and 164 Consents to Mortgage granted under the Buhari administration.