Minister Urges Swift Action To Unlock $300 Billion Dormant Capital For Economic Revitalization

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The Minister of Housing and Urban Development, Ahmed Dangiwa, emphasized the imperative of taking immediate actions to unleash over $300 billion in dormant capital within the housing sector through a series of reforms in the nation’s land administration…CONTINUE READING

Dangiwa highlighted the urgency of this step in light of the current economic challenges facing the country, aiming to stimulate economic growth.

Speaking at the 28th conference of Directors of Lands in the Federal and State Ministries held in Lagos, themed “Improving Land-Based Revenue of The Federating Units in Nigeria through Efficient and Effective Land Administration.

the minister expressed dissatisfaction with the existing state of land administration in the country. He pointed out that persistent issues from decades ago still hinder economic progress.

Addressing the audience, Dangiwa questioned the efficacy of the annual conference, questioning whether the cumulative discussions and gatherings spanning close to three decades have yielded tangible progress in resolving the challenges in land administration.

He pondered whether the conference has evolved into a repetitive event lacking a tracking mechanism to monitor and implement recommendations.

Dangiwa underscored the potential for unlocking over $300 billion in dead capital within land assets through effective administration.

He emphasized the need for proper land administration to realize this economic potential, asserting that with appropriate measures, the country could attract significant investments.

The minister also highlighted the commitment of President Bola Ahmed Tinubu’s administration to address barriers and unlock the revenue-earning potential of land, backed by the necessary political will.