Niger State government is to slash the cost for processing and acquiring a Certificate of Occupancy to a flat rate of N15,000 from the current N127,000, for urban-based property.
The new rate will take effect from January 2017, a government spokesperson, Jibrin Ndace, said Thursday.
The reduction, which will last for six months, will also see landowners in the rural areas paying as low as N5,000 for certificates of their plot.
This was disclosed on Thursday by the state Commissioner for Lands and Housing, Haliru Jikantoro, shortly after the state executive council meeting at the Government House Minna.
Mr. Jikantoro said the policy was aimed at enabling individuals prove the ownership of their landed properties, help provide means of creating wealth, as the certificate can be used as collateral for loan and to boost the Internally-Generated Revenue of the state.
According to the Commissioner, “The state government had decided to reduce the cost of processing and acquiring Certificate of Occupancy of all types of titles.
“This policy, which takes effect from January 2017 and last till 30th of June, 2017 for six months, is aimed at raising the Internally Generated Revenue of the state, to authenticate properties to genuine owners, ensure security and at the same time to create wealth for the people,” the commissioner said.
The flat rate covers either commercial, residential or farm lands.
He assured that adequate machinery has been put in place to protect people from being swindled, saying that all payments are to be paid to some designated banks as no physical cash will be collected.