Nigeria Urgently Needs Land Reform to Unlock $300 Billion Dead Capital

The article highlights the critical need for land reform in Nigeria to unlock an estimated $300 billion in dead capital, improve land administration, and create a more equitable system. The outdated land processes, excessive bureaucracy, and inconsistent regulations have hindered investment and economic growth.

The Land Use Act of 1978, last reviewed during military rule, vests significant power in governors, leading to opaque land allocation. PwC reports a staggering $900 billion potential economic flow from land reform, emphasizing the urgency for a review to enhance land administration and combat corruption in the real estate market.