One of the most contentious legislation in Nigeria remains the Land Use Act.
Many of the stakeholders in the real estate industry have described it as monster crippling the housing development in the country. Experts have opined that the Act is without a registered title overdue for a comprehensive review. They have also repeatedly called for the Act to be removed from the Constitution to make its amendment more realistic and less cumbersome.
Arguing that there will be no meaningful growth in the real estate sector if land continues to be under the firm grips of the State governors Constitutional requirements are the main reason for the failures experienced in amending the Land Use Act as moves to amend proved abortive.
Past Presidents Musa Yar’ Adua and Good luck Jonathan during their administrations ii. Delay in land acquisition: Acquisition of land by individuals attempted to amend the Act but their efforts did not yield and corporate bodies for commercial and economic development expected results as a direct result of inherent bottlenecks purposes have been extremely difficult as a result of the Land involved in amending the Constitution. Experts have asserted Use Act.
The government’s approval amongst other reasons that land has become so expensive because unlike in the past, from the Land Use Act results in the delay in making land you could buy a piece of land from either the community, an individual or from even a company and you go and register that title at the Land Registry. Once it is registered, it becomes a bankable document.