Minister of housing and urban development, . Ahmed Musa Dangiwa, has said the federal government is considering significant reforms to address bureaucratic bottlenecks hindering land acquisition and also cut the cost of land in the nation.
He also revealed that a notable part of the housing sector reforms of the federal government as it pertains to Diasporas interested in the housing and real estate sector is land reforms.
The minister who stated this in his speech, yesterday at the 6th Edition of the Nigeria Diaspora Investment Summit (NDIS), held in Abuja stated that his ministry is working towards streamlining land administration that will cut through bureaucratic bottlenecks and systemic inefficiencies in order to ensure cost effective as well as efficient access to land for both individuals and investors coming into the country.
He said currently Nigeria has a situation where the Land Use Act, which was enacted in 1978, has no complementary institution set up alongside it to provide the necessary framework, guidelines, and regulations for operation and promised that under the Renewed Hope Agenda of Mr. President the systemic anomaly would be fixed.
While reiterating that his ministry is working towards establishing a National Land Commission to outline clear implementation guidelines for the Land Use Act that will chart a new path of effective land administration in the country, Dangiwa lauded the Summit as one of such strategic programs that are helping to deepen the engagement and participation of the diaspora in Nigeria’s economy across several sectors, including the housing and real estate sector.
He said, “As the minister of Housing and Urban Development, I have taken Mr. President’s vision and am determined to actualize it. Our aim at the Ministry is to implement the most historic housing and urban sector reforms the country has ever witnessed. We want to drive through initiatives that will create an enabling environment for easier, safer, and profitable private sector investments in the sectors”
“A notable part of our housing sector reforms that are of particular interest to the Diaspora interested in investing in the housing and real estate sector is land reforms. What we envision is a streamlined land administration that cuts through the bureaucratic bottlenecks and systemic inefficiencies to ensure cost effective and efficient access to land for both individuals and investors in our country,” he added.