- The Nigerian government plans to impose triple ground rent on unoccupied buildings or estates to encourage housing utilization
- The initiative aims to address the housing deficit by incentivizing property owners to rent out or sell vacant properties
The federal government of Nigeria has announced its intention to impose triple ground rent on any completed building or estate that remains unoccupied for over three months. Ahmed Musa Dangiwa, the Minister of Housing and Urban Development, revealed this initiative during a press briefing in Abuja after inspecting housing projects in Gwagwalada, Guzape, and Suleija.
The move is part of the government’s efforts to address the housing deficit in the country by encouraging the utilization of vacant houses within the Federal Capital Territory (FCT) and other states. Dangiwa instructed his ministry’s Department of Lands, Urban, and Regional Planning to compile a list of unoccupied estates and identify their owners. The ministry aims to engage with property owners to determine their intentions regarding the properties, whether they plan to keep them, rent them out, or sell them.
Dangiwa emphasized the need to address the issue of abandoned estates, particularly in Abuja and surrounding areas. He stated that charging triple ground rent on unoccupied houses would incentivize property owners to either put the houses up for rent or sell them, contributing to efforts to reduce the housing deficit.
The minister also commended BUA, a cement producer, for reducing the price of cement from N5000 to N3500. He called on other cement producers to follow suit and warned wholesalers against selling BUA products above the official price. The government has advised BUA to brand the reduced-price products to track and prevent exploitation by unscrupulous sellers.
It remains to be seen how property owners will respond to the government’s initiative and whether the measure will effectively address the issue of unoccupied houses in the country.