Securing Property Titles Key to Reducing Poverty in Nigeria

Emeka Eleh, a principal partner at Ubosi Eleh & Co., stated during a press briefing in Lagos that securing property titles is crucial in the fight against poverty. He highlighted that proper documentation of properties would enable owners to access loans, thereby fostering economic growth.

Eleh noted that when properties are properly titled, it would allow individuals to leverage their assets for financial support, which is essential for small-scale businesses that struggle to raise funds without ownership documentation. He urged the government to pursue land reform processes to ensure that everyone has access to property titles.

This reform would not only empower individuals but also enable the government to generate income through property taxes, which are a significant revenue source in many developed countries. Chudo Ubosi, also a principal partner at Ubosi Eleh & Co., remarked on the evolution of the Nigerian property business, indicating a shift towards more transparent property sales.