Key questions this article answers:
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How has Nigeria’s 45-year-old Land Use Act hindered economic growth?
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What is the role of Nigeria’s 10th National Assembly in ensuring land reforms?
Only three out of every ten households that own land or any form of real estate in Nigeria can use it for wealth creation.
What I mean is that most Nigerians that own the homes they live in, factories they’ve built or schools they’ve developed can’t prove their ownership. As a result, they cannot sell, gift or use these same assets to take out bank loans for further development, at least not legally.
The simple reason for this is that they don’t have the titles (documents that prove ownership) of these properties. This is either because they are ignorant or because the processes involved in getting the required documents (governor’s consent) have frustrated them.
We will get to the processes in a
