Property development company Noble Grounds Limited has criticised the rising cost of obtaining Certificates of Occupancy (C of O) in Ogun State, warning that excessive and unexplained charges could discourage investment and slow real estate development.
The company’s Managing Director, Olajide Dosunmu, called on the state government to review its land documentation process and introduce a transparent, standardised fee structure.
Speaking to journalists in Lagos, Dosunmu cited the case of a developer processing a C of O for a 50-acre parcel of land.
He said the title documentation and associated charges were initially estimated at ₦50 million before the current administration took office.
However, after a prolonged suspension of C of O processing and its subsequent resumption, the developer reportedly received a bill of ₦1.5 billion.
Dosunmu questioned the sharp increase, arguing that the government had not provided a clear valuation formula or detailed breakdown to justify the charges.
Developer Warns Of Impact On Property Investment
The Noble Grounds managing director warned that unpredictable land documentation costs could discourage investment, particularly because developers without valid titles often struggle to secure bank financing.
He said the situation was slowing formal property development and encouraging informal construction.
According to him, investors who obtained land titles under previous administrations faced fewer obstacles than developers entering the market under the current system.
Dosunmu also warned that high documentation charges could give foreign investors with greater financial resources an advantage over indigenous developers.
Noble Grounds Urges Ogun To Adopt Lagos Fee Structure
Comparing Ogun State’s land administration system with Lagos, Dosunmu said Lagos publishes gazetted land values and statutory charges.
He noted that the published rates allow applicants to estimate the cost of obtaining land titles before beginning the process.
He urged the Ogun State Government to adopt a similar system based on published rates, location-specific valuations and clearly defined processing fees, including stamp duties.
Dosunmu said industry stakeholders had also raised the issue at a forum involving the Federal Minister of Finance.
The discussions reportedly covered infrastructure and affordable housing finance.
He encouraged property developers to speak out about challenges affecting the industry.
According to him, transparent land administration would improve access to financing, attract investment, increase housing delivery and create employment opportunities.
He appealed to the Ogun State Government to ensure that the cost of title documentation did not become a barrier to legitimate property development.
