Land With CofO at OsongAma for Sale (Watch Video)

Property Type: Lands

To find land with CofO within elitist OsongAma estate can be a nightmare. The Certificate of Occupancy is a very elusive document to acquire in Nigeria. In Akwa Ibom State, it is even more difficult. More on the C of O later, but here is over 2000sqm for sale at Osong Ama.

Please watch this brief video:

The property measures more than 6 plots. The land is flat and dry, presently being cultivated. It is also fenced round – not a high fence however. And then it is right within Osong Ama Estate, not the extension area. We have already mentioned that it is privileged to own a C of O.

Details:

  • Specific Size: 2819 SQM
  • Fencing: Perimeter fencing
  • Location: MAIN OSONGAMA ESTATE.
  • Title: C of O and Survey Plan
  • Price: N45m

ONGOING PROMO!!! Buy land at 950,000 in ‘new Uyo’. Click here.

Why C of O is Hard To Acquire in Nigeria

Firstly, all land belongs to the Nigerian Government. This is according to the Law (1978 land use act). That means that every Nigerian is a tenant of the Nigerian Government.

Even if you are the Chagoury brothers, the Nigerian-born Lebanese billionaires and you bought bar beach and turned it into Eko Atlantic, the land still belongs to the Nigerian Government. That is, you acquired useless water front, turned into a mega city, will employ 250,000 Nigerians and boost the local economy. After all that, the land still does not belong to you.

Now imagine you buy 500 sqm from Eko Atlantic, which is at least 360M (2015 data) if it is NOT by a road. Since Eko Atlantic is still within Nigeria, your 360M land belongs to the Federal Government.

Buy commercial Property, former UBA building, with C of O in Uyo, click here

What the C of O implies is that the Government has given you that piece of land to occupy. Note that it is not to own, but to occupy. It is called Certificate of Occupancy, not of ownership. Usually, the duration is for 99 years. After this duration, you are expected to reapply. The constraint is in the fact that only the State Governor of your state signs the C of O.

Read More About How to Obtain Certificate of Occupancy in Nigeria. Click here

Keyword: Land With CofO at OsongAma

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