Nyesom Wike, minister of the Federal Capital Territory (FCT), has lowered the cost of obtaining a Certificate of Occupancy (C-of-O) for a piece of land in Abuja.
Those wishing to receive their C-of-O will now pay N3.5 million, instead of N5 million.
Stakeholders and major actors in the real estate industry were opposed to the initial N5 million statement.
Wike reportedly made the announcement on Friday during his second monthly ministerial press briefing, according to a statement signed by Director of Press (Office of the FCT Minister) Anthony Ogunleye.
Wike had previously signaled that the C-of-O cost would be reevaluated and reduced.
According to him, the new tariff is uniform across the entire Federal Capital Territory, regardless of the size of the parcel or its precise location.
