The Federal Capital Territory (FCT) Minister, Nyesom Wike, has revised the fee structure for the issuance of Certificates of Occupancy (C-of-Os) for land plots in Abuja. The new fee, set at N3.5 million, represents a reduction from the initial announcement of N5 million, which had faced opposition from stakeholders and key players in the real estate sector.
The decision to lower the C-of-O fee was disclosed by Wike during his second monthly ministerial press briefing on Friday. The move follows the minister’s earlier indication that there would be a downward review of the fee, taking into consideration the concerns raised by stakeholders.
In a statement signed by the Director of Press (Office of the FCT Minister), Anthony Ogunleye, it was clarified that the revised fee of N3.5 million is a flat rate applicable to all land sizes, irrespective of their location within the Federal Capital Territory.
The adjustment in the fee structure aims to strike a balance and ensure accessibility for individuals seeking Certificates of Occupancy, aligning with the goal of promoting land ownership and development in the FCT. The reduction comes as a response to the feedback and concerns voiced by various stakeholders in the real estate sector.
