The Federal Capital Territory, FCT, Minister, Nyesom Wike, has lessened the fee for issuance of Certificates of Occupancy, C-of-Os, for plots of land in Abuja, the seat of power in Nigeria.
Individuals looking to get their C-of-O will now have to pay the sum of N3.5 million, instead of N5 million.
The previous announcement of N5 million as the fee had been opposed by stakeholders and principal players in the real estate sector.
Anthony Ogunleye, the Director of Press (Office of the FCT Minister), had in a statement he signed personally, said that Wike had announced the decision during his second monthly ministerial press briefing on Friday, November 24.
Recall that Wike had recommended not too long ago that there would be a sinking review of the C-of-O payment .
According to minister, the new price was a flat rate for all sizes of land irrespective of the location of the land in the Federal Capital Territory.
