Wike Signs 26,272 C-of-Os to Boost FCT Business

Nyesom Wike, the Federal Capital Territory (FCT) minister, has signed a total of 26,272 Certificates of Occupancy (C-of-O) since President Bola Ahmed Tinubu assumed office, as part of efforts to enhance business operations in the FCT in line with the Renewed Hope Agenda. This figure starkly contrasts with the 8,697 Certificates of Occupancy produced and signed between 2010 and 2023.

During President Goodluck Jonathan's administration, 5,500 Certificates were signed, while 3,197 were signed during President Muhammadu Buhari's eight-year tenure. Many beneficiaries of the recent Certificates of Occupancy had their land allocations over a decade ago.

The Certificates of Occupancy serve as reliable collateral for commercial loans and mortgages, addressing a significant challenge for small and medium businesses in accessing funding. Lere Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media, stated that the current administration has streamlined the process, allowing land allottees to receive their documents within two weeks of completing payments.