To fast track 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.
Recall that 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 beneficiaries of the 26,272 Certificates of Occupancy produced and signed by the FCT Administration under Wike, got their allocations more than 10 years ago. Certificate of Occupancy functions as trusted collateral for commercial loans, mortgages or business expansion capital and inability of property owners to get Certificates of Occupancy when needed is one of the challenges facing small and medium businesses, as it restricts access to funding.
Senior Special Assistant to the FCT Minister on Public Communications and Social Media, Lere Olayinka, said in a statement that the FCT Administration under the present government of President Tinubu, has streamlined the process to enable land allottees receive their documents within two weeks of completing payments.
