Ogun land title costs have come under criticism following concerns that rising Certificate of Occupancy (C of O) charges could discourage property investment and slow real estate development.
Noble Grounds Limited, a property development company, has urged the Ogun State Government to review its land documentation process. The company also called for a transparent and standardised fee structure.
Its Managing Director, Olajide Dosunmu, made the appeal while speaking with journalists in Lagos. He argued that unclear charges and unpredictable documentation costs create difficulties for property developers.
The concerns come as investors seek more clarity on land acquisition and property development expenses in Ogun State.
Developer Questions N1.5 Billion C of O Charges
Dosunmu cited the case of a developer processing a Certificate of Occupancy for a 50-acre parcel of land.
According to him, the estimated cost of the title documentation and related charges stood at N50 million before the current administration took office.
However, the government suspended C of O processing for an extended period before eventually resuming the exercise.
Following its resumption, the developer reportedly received a bill of N1.5 billion.
Dosunmu questioned the significant increase, particularly because the government had not provided a clear valuation formula or detailed breakdown of the charges.
He maintained that developers need predictable costs to plan projects and make informed investment decisions.
Rising Ogun Land Title Costs Could Discourage Investment
The Noble Grounds managing director warned that excessive documentation charges could affect the wider property market.
One major concern involves developers who lack valid land titles. Without proper documentation, they often struggle to secure bank loans and other forms of financing.
Consequently, high title processing costs could prevent legitimate developers from formalising their properties.
Dosunmu also warned that the situation could encourage informal construction and discourage new investments.
He further expressed concern that foreign investors with greater financial resources could enjoy an advantage over indigenous developers.
According to him, investors who obtained land titles under previous administrations faced fewer obstacles than those entering the market today.
Developer Urges Ogun to Adopt Lagos Land Documentation Model
Dosunmu compared Ogun’s land administration system with that of Lagos State.
He noted that Lagos publishes gazetted land values and statutory charges. This allows applicants to estimate the likely cost of obtaining property titles before beginning the process.
He urged Ogun State to introduce a similar framework.
The proposed system should include published rates, location-specific land valuations and clearly defined processing fees. It should also provide clarity on applicable stamp duties.
Furthermore, transparent charges would help developers budget accurately and reduce uncertainty during property transactions.
Transparent Land Administration Could Boost Housing Development
Dosunmu disclosed that industry stakeholders had raised the issue at a forum involving the Federal Minister of Finance.
Discussions at the meeting included infrastructure development and affordable housing finance.
He encouraged property developers to speak openly about challenges affecting the sector. He also stressed that transparent land administration could improve access to financing, attract investment and increase housing delivery.
In addition, a more predictable documentation process could support job creation and encourage legitimate property development.
He appealed to Governor Dapo Abiodun’s administration to ensure that title documentation expenses do not become barriers to investment.
Ultimately, clear land valuation policies and standardised charges could strengthen investor confidence and support Ogun State’s real estate sector.
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