The federal government said the over one hundred and fifty billion dollars in dormant land capital across the country will be unlocked to revamp economic growth.
Minister of Housing and Urban Development, Ahmed Dangiwa, disclosed this at a stakeholders’ workshop on “The Nigeria land Registration, Documentation and Titling Programme” in Lagos, with a theme, “Moving from Inception to Implementation”.
This is contained in a statement issued by the Director, Press and Public Relations, Badamasi Haiba in the ministry, Thursday.
It said, the Nigeria’s current land administration system left less than five per cent of land formally titled, thereby making individuals live on lands without secure proof of ownership.
The statement reads, ““Billions of naira in potential Internally Generated Revenue are also untapped for state governments, and an estimated 300 billion dollars in “dead capital for the Federal Government.
“The Land4Growth” Programme is not just an administrative reform but a deliberate economic strategy under the Renewed Hope Agenda of President Bola Tinubu.
“It seeks to turn land from a dormant asset into a productive engine for prosperity, for individuals, states, and the country as a whole.
“It is designed to replace our fragmented, opaque, and paper-based system with a digitised, transparent, and efficient national framework,” It said.
The statement explained that the programme is aimed at increasing formal registration of land titles by at least 50 per cent within 10 years.
Dangiwa added that it would deploy standardised, interoperable Land Information Systems and Geographic Information Systems, strengthen state land agencies and registries, unlock over 150 billion dollars in “dead capital”, among others.
