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Government should create incentives for developers of social housing, says Odusolu

With the nation’s huge housing deficit, the real estate sector ought to be a top-three sector for the economy. What are the challenges and ways to make the sector contribut
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FCTA gets committee on land administration

The Federal Capital Territory (FCT) administration has inaugurated an eight-man committee on land matters to ensure effective delivery and improved revenue generation in the territory.
The committee, which has one-week to submit its report will review the current challenges related to payment of land fees; identify sources of financing payment of land fees by the title holders; develop framework for partnership with financial institutions and recommend on any other related matters.

Inaugurating the committee last week, in Abuja, the Permanent Secretary, FCTA, Mr. Olusade Adesola, said it is also mandatory for the committee to fast-track processes involved in the acquisition of Certificate of Occupancy (CofOs) and other title documents for various individuals.

Adesola explained that in view of the dwindling revenue accruals to government as a result of shortfalls in price in crude oil globally as well as increasing demands for social amenities or infrastructural developments by the citizens, it has become imperative for the FCT administration to be creative in generating revenue.

Adesola, however, expressed optimism that the committee would work assiduously to come up with far reaching recommendations to address delay in the acquisition of CofOs and other title documents. The committee is being chaired by Harisu Umar.