The Federal Capital Territory (FCT) Minister, Nyesom Wike, has garnered significant acclaim for his proactive approach to land administration, exemplified by the recent issuance of over 1,000 Certificates of Occupancy (C-of-Os) to homeowners in River Park Estate, Abuja. This substantial action follows the ministerial approval of 5,481 C-of-Os between August 2023 and December 2024, signaling a concerted effort to address the long-standing issue of property rights within the FCT. The mass issuance of these vital documents represents a significant milestone in Abuja’s real estate sector, bolstering investor confidence and promoting transparency in land ownership. It underscores the administration’s commitment to streamlining bureaucratic processes and fostering a more secure and attractive investment climate in the nation’s capital. The positive repercussions of this initiative are expected to ripple through the housing market, stimulating growth and encouraging long-term investment in property development.
The Managing Director of River Park Estate, Paul Odili, lauded the Minister’s decisive action, characterizing it as a transformative moment for the estate and the broader Abuja real estate landscape. He emphasized that the issuance of such a large number of certificates for a single estate demonstrates the government’s dedication to securing property rights and promoting a conducive environment for real estate growth within the FCT. Odili highlighted the significance of the C-of-Os in providing tangible proof of ownership, thereby alleviating anxieties and reinforcing investor trust. This move is expected to attract further investment, contribute to the development of a more robust and secure property market, and ultimately enhance the value and appeal of properties within the FCT.
Odili further expressed his gratitude to the Director of Land at the Federal Capital Development Authority (FCDA) and various departments within the FCDA, acknowledging their instrumental role in expediting the processing of the certificates. He specifically recognized the contributions of the Urban and Regional Department, Mapping and Survey Department, Estate Department, and most notably, the Land Department for their diligent efforts in facilitating this significant achievement. This collaborative approach, involving various stakeholders within the FCDA, highlights the importance of inter-departmental cooperation in achieving efficient and effective land administration.
Underscoring the transparency of the process, Odili publicly announced the handover of the certificates to the rightful owners, emphasizing the fulfillment of the FCT administration’s promise. This public declaration serves as a testament to the commitment to open governance and accountability in land matters, promoting trust between the government, developers, and property owners. By ensuring that the process was conducted in a transparent and verifiable manner, the FCT administration reinforces its commitment to building a credible and reliable real estate sector.
Concurrent with the C-of-O handover, Odili disclosed a significant shift in the estate’s ownership structure. He announced the acquisition of 100% ownership of River Park Estate, Jonah Capital Limited, and Houses for Africa Nigeria, solidifying his control over the development. Previously, Houses for Africa Holdings, with John Townley-Johnson holding an 80% stake, served as the international partner for the estate’s development. However, Townley-Johnson has now divested his entire shareholding to Odili, marking a complete transfer of ownership. This transition reflects a significant change in the estate’s leadership and sets the stage for future development under Odili’s sole direction.
Confirming the change in ownership, John Townley-Johnson expressed confidence in Odili’s ability to steer the project forward, citing his credibility within the real estate development sector. The decision to transfer ownership was based on Odili’s established reputation and his commitment to maintaining the high standards set for the estate. This endorsement from the previous majority shareholder further reinforces the positive outlook for the estate’s future under Odili’s leadership, assuring stakeholders of the continuity and quality of the development. The residents of River Park Estate expressed immense satisfaction with the issuance of the C-of-Os, viewing it as the culmination of a long-held dream and a validation of their investment. This sentiment, echoed by representatives of resident associations and individual homeowners, underscores the tangible impact of secure property rights on the lives and aspirations of ordinary citizens. The C-of-Os represent not just legal documents but also the realization of a secure and prosperous future for the residents and their families. They now possess a tangible asset that can be leveraged for future financial stability and intergenerational wealth creation.
