The Ogun State section of the Nigerian Institution of Estate Surveyors and Valuers has requested the incoming president, Bola Tinubu, to review and seek a modification to the Land Use Act.
The State Chairman, Bola Orekoya, made the announcement as part of this year’s Valuation Day celebrations in Abeokuta with the subject “Valuation: Key to decision making for asset and resource optimization.”
Bola stated that the act’s need for amendment insofar as land acquisition is concerned “is long overdue.”
According to him, granting land ownership to a state’s governor has always denied owners of land acquired through inheritance or purchase of their rightful benefit and reward.
Like the 1978 Land Use Decree 6 that is now an act, Bola remarked. For instance, this decree needs to be amended, but it will be challenging to do so because it is part of the Nigerian constitution. However, we continue to argue that the best course of action is to review this property Use Act and, if required, alter it so that it can be utilized to control property acquisition.
He said, “For instance, land acquisition is when you simply go up and steal someone else’s property without providing them enough advance notice or the appropriate recompense. The governor of a state is granted property ownership or management under that specific decree, making the governor the legal owner of all land inside the state.”
Bola continued saying, “As a result, whenever such land is acquired, they do not pay compensation because it has been stated from the beginning that land belongs to the governor of a state.” People who have acquired land through purchase or inheritance stand to lose the minute the government takes it over”.
According to his explanation, the valuation day is a yearly event that promotes “advocacy and awareness on the estate management profession, and most especially roles of an estate surveyor and valuer.”
Sali Shobanke, a previous branch chairman, said that “land is a requirement for all aspects of life and since all development takes place on land, land must be taken seriously.” Land can only be treated seriously if strong policies are put in place to promote landed assets.
I would urge the new administration to consider how to enact strong measures that stimulate our economy.
