Wike signs 26,272 C-of-O to boost biz, exceeding previous 13-year total by 17,575

By Stanley Onyekwere

In alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda, Federal Capital Territory (FCT) Minister Nyesom Wike has produced and signed 26,272 Certificates of Occupancy (C-of-O) since taking office.

This output marks a major administrative milestone, representing 17,575 more title documents than the combined 8,697 produced over the entire 13-year period between 2010 and 2023.

This was contained in a statement from Lere Olayinka, SSA to the FCT Minister on Public Communications and Social Media

According to the statement, under President Goodluck Jonathan’s five-and-a-half-year administration, a total of 5,500 C-of-Os were signed.

During President Muhammadu Buhari’s eight-year tenure, 3,197 C-of-Os were produced and signed.

These two previous administrations combined produced 8,697 C-of-Os over a 13.5-year span, compared to the 26,272 signed in just three years under President Tinubu’s administration led by  Wike.

It added that many property owners receiving their title documents under the current administration originally obtained their land allocations over a decade ago without getting their final documentation.

“Streamlining processes and unlocking Capital Certificates of Occupancy serve as essential collateral for securing commercial loans, funding business expansions, and acquiring mortgages.

“ Delays in obtaining these legal titles historically restricted access to financing and created severe operational bottlenecks for small and medium-sized enterprises (SMEs).

“To resolve these administrative delays, the FCT Administration overhaul includes:

two-week delivery window- land allottees now receive their C-of-O within two weeks of settling all required payments.

“ An automated system notifies land owners immediately once their documentation is processed and ready for collection,” it added.

Alongside C-of-O issuances, the FCT Administration under Wike has granted 2,521 Consents to Assign required for property transfers and loan reassignments and 177 consents to mortgage, which clear properties to be used as loan collateral.

By comparison, the Jonathan administration granted 753 consents to assign and 180 consents to mortgage, while the Buhari administration issued 684 Consents to Assign and 164 v consents to mortgage during its eight years in office.