• Wednesday, October 09, 2024
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New compensation rates underway as FG partners UK agency on land acquisition

New compensation rates underway as FG partners UK agency on land acquisition

A new compensation rate is underway as the Federal Ministry of Housing and Urban Development has partnered with Central Association of Agricultural Valuers (CAAV), a UK-based professional body specializing in agricultural and rural valuation, on public land acquisition.

This collaboration aims to modernize methodologies for compensating landowners, particularly regarding crops and economic trees, aligning Nigeria’s practices with global standards.

The announcement was made during the first day of a Knowledge Exchange Programme in London, where Abdullahi Gwarzo, the Minister of State for Housing and Urban Development, underscored the importance of this initiative in Nigeria’s ongoing land reforms.

According to Gwarzo, the project is critical to addressing long-standing issues within the country’s land governance, particularly the outdated compensation rates that have been in place since 2008.

“This collaboration is vital to our reforms aimed at tackling systemic challenges in land governance. By working with experts like CAAV, we can develop a more effective and sustainable framework,” Gwarzo stated.

The review of compensation rates is a key component of the Ministry’s efforts under the federal government’s Renewed Hope Agenda.

The reforms aim to streamline land acquisition processes, ensuring that compensation is fair, transparent, and in line with international best practices.

Read also: FG, UK partner to ink N589bn pact in eight sectors

Gwarzo noted that current challenges, including the outdated 2008 rates and issues with implementing the Land Use Act of 1978, have necessitated a comprehensive overhaul of the system.

To remedy these issues, the Ministry, through the National Technical Development Forum on Land Administration (NTDF), has been working on a new compensation regime.

The partnership with CAAV will provide expert input and methodologies, enabling the government to create a dynamic and scientifically grounded system for determining land compensation.

Gwarzo emphasized that this new system will serve as a central, updatable repository of rates for use in various projects across the country.

The goal is to ensure that compensation is determined in real-time, keeping pace with global standards.

During the meeting, technical presentations were made by Olurotimi Kemiki, Lead Consultant on Compensation Rates Methodology, and Jeremy Moody, Secretary and Adviser to CAAV.

Moody expressed the association’s enthusiasm for collaborating with Nigeria to achieve its objectives.

The Knowledge Exchange Programme is set to continue throughout the week, with both parties sharing insights that will contribute to the Ministry’s final report, which is expected to be presented in October 2024.

The Federal Ministry of Housing and Urban Development said it remained dedicated to ensuring that land acquisition processes are fair and transparent, with compensation that reflects modern, global best practices.

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