Nigeria, in partnership with the World Bank, has launched an ambitious initiative to register all land parcels across the country, aiming to unlock an estimated $300 billion in untapped capital. This joint effort is part of a broader strategy to enhance land governance, promote economic development, and facilitate access to credit for millions of Nigerians who currently lack formal titles to their land.
The partnership, which aligns with Nigeria’s economic reform agenda, seeks to address long-standing challenges related to land ownership and management in the country. By creating a comprehensive and reliable land registry, the Nigerian government aims to provide secure land tenure to its citizens, thereby increasing their ability to use land as collateral for loans and other forms of financing. This move is expected to significantly boost economic activity, particularly in the agricultural sector, where access to credit has been a major constraint for smallholder farmers and rural communities.
A key component of the initiative involves the digitalization of the land registration process. The World Bank will provide technical and financial support to assist Nigeria in developing a centralized, digital land registry that will simplify the process of land registration, reduce bureaucratic bottlenecks, and improve transparency. The digital system is also expected to help curb corruption and reduce the prevalence of fraudulent land deals that have historically plagued the country's land management practices.
The $300 billion estimate represents the potential value of land that currently remains "dead capital" – assets that exist but cannot be leveraged due to the lack of formal documentation or clear ownership. By registering land parcels, the government aims to unlock this value, turning land into a viable asset that can stimulate investment, create jobs, and drive sustainable economic growth.
Additionally, the initiative is expected to have far-reaching social benefits. For example, it could help to reduce land disputes and conflicts, which are common in Nigeria due to unclear land rights and overlapping claims. By establishing a clear legal framework for land ownership, the program aims to foster peace and stability, particularly in rural areas where land is a critical resource for livelihoods.
This partnership reflects Nigeria’s commitment to achieving its developmental goals as outlined in its national development plans, including efforts to diversify the economy away from oil dependency, promote agricultural development, and strengthen the real estate and housing sectors. The collaboration with the World Bank is seen as a step toward creating an enabling environment for private investment and improving overall economic governance.
If successful, the project could serve as a model for other African countries grappling with similar challenges related to land ownership and economic development, setting a precedent for how strategic partnerships and technological innovation can be harnessed to unlock the value of untapped resources.
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