The Real Estate Developer’s Association of Nigeria (REDAN) has described the decision of the Minister for the Federal Capital Territory (FCT), Nyesom Wike, to establish a task force aimed at facilitating the issuance of Certificates of Occupancy (C of O) in the FCT as a positive step.
According to REDAN, this move will ensure compliance with the FCT Master Plan, address land-related issues, promote accelerated housing and real estate development, and prevent economic waste caused by building demolitions.
REDAN President Dr. Aliyu Oroji Wamakko, in a statement made available to journalists in Abuja, affirmed that this initiative will enhance the economic value for homeowners in the mass housing estates in the FCT.
“This action is in sync with our calls to the Ministry before he assumed leadership,” Wamakko, who also serves as the Chairman and CEO of Jedo Investment Company Limited, stated.
Crucially, the task force aims to address land use contraventions within the FCT.
The Minister has directed the task force to ensure that allottees who have breached land use norms pay penalties, a measure intended to serve as a deterrent.
“This decision is applauded because it is more humane and a clear departure from decisions which result in economic waste by demolition of such buildings,” Dr. Wamakko noted.
The task force is also tasked with catering to the needs of land allottees in the Area Councils who lack C of O for their plots.
This provision, according to the Minister, is intended to stimulate economic life and development in the Area Councils.
Dr. Wamakko also acknowledged the promise by the Chairman of the Task Force, ESV Michael O. Chinda, to accomplish the task within a record one-month period.
He further assured the Minister and the Task Force of REDAN’s commitment and cooperation towards the seamless execution of this assignment.
“Paramount amongst our concern in the FCT is adherence to maintaining the Abuja Master Plan as designed and may be reviewed by the Federal Capital Territory Administration,” Dr. Wamakko added.
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