Federal government Wednesday, said it has created a process that will fast tract the issuance of land titles, including Certificate of Occupancy, C of O.
Briefing reporters after the Federal Executive Council (FEC) meeting in the State House, Minister of Works and Housing, Babatunde Fashola, said a total of 3,290 C of Os have been given out in recent times.
The Minister said the process of obtaining certificate of occupancy (cofo) easier for those who prefer to build their own houses, under the new arrangements
Fashola who observed that the process of accessing the loan is a little but difficult, added that this had resulted in delays in processing the loans.
” This is because some investigations need to be carried out after applications have been submitted to ensure that claims made by applicants are genuine.
He explained that various interventions it has made in the housing sector, aimed at making the process of owning houses easy for citizens.
According to him, various housing projects are ongoing in different parts of the country with 186 housing units already completed, while 2,300 others are still under construction.
The minister who also said the Federal Housing Authority (FHA) had since inception delivered 45,000 housing units in 81 estates across the country, added that the agency delivers no fewer than 1,000 housing units every year.
According to him, any worker who contributes to National Housing Fund (NHF) domiciled in the Federal Mortgage Bank of Nigeria for six months is qualified to access the fund to buy houses of their choice.
He said for those who want to obtain loan to build their houses, it is very important that their landed property must have titles.
He also said a major reason physical assets are not allowed as collateral for accessing loan to buy or build houses is because anyone who desires to access the NHF must be a certified contributor to the housing fund.
