In a bid to appease stakeholders and players in the real estate sector, the Federal Capital Territory (FCT) Minister, Nyesom Wike, has announced a significant reduction in the fee for issuance of Certificates of Occupancy (C-of-Os) for land plots in Abuja.
Effective immediately, individuals seeking C-of-Os will now only be required to pay N3.5 million, down from the initial N5 million.
The initial announcement of the N5 million fee had sparked opposition from stakeholders and key players in the real estate sector, prompting the reconsideration and subsequent reduction.
During his second monthly ministerial press briefing on Friday, Wike officially announced the decision, reinforcing his commitment to responsive governance. The statement, signed by the Director of Press (Office of the FCT Minister), Anthony Ogunleye, conveyed the minister’s resolve to prioritize the welfare of the people.
Wike had earlier hinted at the potential reduction, and the final decision reflects a flat rate for all land sizes within the Federal Capital Territory, irrespective of the location of the land.
