Estate surveying and valuation firm Ubosi Eleh + Co has stressed that proper documentation and ownership titles for properties could become a powerful tool in reducing poverty and expanding economic opportunities in Nigeria.

The firm made the assertion during a media briefing in Lagos ahead of activities marking its 35th anniversary celebration scheduled for the second week of June.

According to industry experts, formal property ownership documentation can unlock access to credit, improve wealth creation and strengthen government revenue generation.

Property Titles Can Unlock Access to Capital

Speaking during the briefing, Principal Partner of Ubosi Eleh + Co, Emeka Eleh, said millions of Nigerians possess properties with economic value but are unable to maximise those assets due to lack of formal documentation.

According to him, property titles make it easier for owners to use their assets as collateral for loans and business financing.

Eleh explained that once ownership is formally recognised, property owners can leverage their assets to access funding that could support small businesses and economic growth.

He noted that individuals often struggle to raise capital from untitled properties despite their significant market value.

Call for Land Reform in Nigeria

Eleh urged government authorities to initiate broad land reforms capable of providing legal titles to property owners across the country.

According to him, such reforms would not only benefit individuals but also strengthen government revenue through improved property taxation systems.

He explained that a properly documented property system enables authorities to identify assets and collect taxes more efficiently.

Property Tax Seen as Major Revenue Source

Eleh pointed out that developed economies rely heavily on property taxes to fund public services and infrastructure.

According to him, cities in advanced countries generate significant portions of their revenue from property-related taxes due to effective land documentation systems.

He argued that strengthening land administration and documentation processes could create long-term benefits for Nigeria’s economy.

Nigeria’s Property Market Becoming More Open

Also speaking during the event, Principal Partner at Ubosi Eleh + Co, Chudo Ubosi, said the Nigerian property sector is gradually moving away from a culture of secrecy toward greater openness and transparency.

He explained that property owners are increasingly becoming comfortable with publicly advertising and transacting property assets.

Ubosi noted that the evolution reflects growing confidence within the sector and changing attitudes toward real estate ownership and investment.

He also credited strategic communication and marketing efforts for the company’s growth over the last 35 years.

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The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, says many hardworking Nigerians remain stuck in poverty because their economic returns are too low to sustain meaningful progress.

Bagudu made the remark in Abuja during a meeting with the World Bank Regional Manager for Social Protection and Labour for West and Central Africa, Robert Chase.

The ministry released details of the engagement in a statement on Wednesday.

According to the minister, limited earnings continue to keep millions of Nigerians vulnerable despite their resilience and work ethic. He said this reality underscores the urgency of strengthening social protection systems nationwide.

Bagudu noted that ongoing macroeconomic reforms and federally driven social programmes have benefitted significantly from the partnership between Nigeria and the World Bank. He also welcomed the ministry’s new Permanent Secretary, Dr Deborah Odoh, describing her expertise in social policy and reform implementation as an asset to ongoing national programmes.

He emphasised that the Nigerian Constitution mandates all tiers of government to prioritise social welfare and inclusive development. This legal provision, he said, guides the ministry’s work in coordinating social protection policies across federal, state and local levels.

The minister further called for better alignment among programmes such as NG-CARES, the Nigeria for Women Project and the HOPE Agenda, warning that fragmented implementation weakens impact. He advocated functional governance structures at ward level to reduce overlap, improve coordination and boost community involvement.

Addressing the rising poverty rate, Bagudu said many Nigerians are stuck not because they lack diligence, but because their economic activity yields minimal returns.
“Although most Nigerians are hardworking, they are trapped in poverty because their economic returns are limited,” the statement quoted him as saying.

He added that President Bola Tinubu has directed ministries to convert ongoing reforms into visible improvements in people’s lives.
“Our goal is to lift millions out of poverty by 2030 through coordinated programmes, strengthened efficiency and expanded financing,” Bagudu said.

World Bank representative Robert Chase commended Nigeria’s leadership and expanding social protection systems, noting that initiatives like NG-CARES now serve as models across Africa. He disclosed that the bank’s $750m contribution has been complemented by more than $2.2bn in state-led investments.

The Permanent Secretary, Odoh, assured the delegation of the Federal Government’s commitment to building a more inclusive and resilient economy through targeted social programmes.

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The FCT Minister, Nyesom Wike, has called on investors to explore business opportunities in Abuja to boost growth and reduce poverty.

At the 2nd Abuja Business and Investment Expo (ABIEXPO 2025), Wike—represented by Dr. Mariya Mahmoud said the expo aligns with President Bola Tinubu’s Renewed Hope Agenda focused on infrastructure, jobs, and inclusive growth.

Tony Elumelu, Chairman of Heirs Holdings, urged Africans to invest locally, stressing that the continent’s future “must be built by Africans.” He said fighting poverty requires strong public-private collaboration.

Elumelu revealed that his foundation has empowered 24,000 young Africans, including 641 from the FCT, with training and $5,000 grants.

AICL CEO, Ambassador Maureen Tamuno, said the expo aims to attract investors and promote sustainable development.

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The Federal Government has announced a ₦6.3 billion intervention package in the form of interest- and collateral-free loans to 21,000 Nigerians affected by recent floods, in a move aimed at supporting recovery efforts and bolstering food security.

Speaking in Abuja on Monday at a roundtable marking the International Day for Disaster Risk Reduction, Minister of State for Humanitarian Affairs and Poverty Reduction, Dr. Yusuf Sununu, said the initiative will provide ₦300,000 each to beneficiaries over the coming weeks.

“This intervention is designed to support farmers and strengthen flood-affected communities,” the minister said, noting that the scheme aligns with the administration’s broader poverty reduction strategy.

Sununu added that the National Social Investment Program has already disbursed over ₦300 billion in Conditional Cash Transfers to more than 8.1 million households, contributing to improved health, education, and resilience among vulnerable groups. The program will continue under the President’s “Hope Agenda,” he said.

The minister also revealed a new collaboration with the Federal Ministry of Agriculture to support internally displaced persons (IDPs) through an off-take scheme. Under the model, the government will purchase 70% of produce cultivated by IDPs, while participants retain the remaining 30%, ensuring a guaranteed market and immediate cash support.

Meanwhile, the Director-General of the National Emergency Management Agency (NEMA), Zubaida Umar, underscored the rising risks posed by climate change, conflict, pandemics, and technology-driven disasters. She called for a paradigm shift from reactive to preventive disaster management.

Umar unveiled two new policy frameworks: the NEMA Strategic Plan (2025–2029) and the National Disaster Risk Reduction Strategy (2025–2030), which aim to improve preparedness, resilience, and data-driven decision-making. NEMA is also developing a National Risk Monitoring and Information Platform to enhance early warning capabilities.

She further advocated for sustainable financing models, including catastrophe bonds, climate funds, and blended finance to support long-term disaster prevention and recovery efforts.

The high-level event was attended by Vice President Kashim Shettima, Deputy Speaker of the House of Representatives Benjamin Kalu, Zamfara State Governor Dauda Lawal, lawmakers, development partners, and international agencies.

According to figures from NEMA’s 2025 Flood Dashboard, as of October 10, floods have claimed 238 lives, displaced over 135,000 people, and affected more than 409,000 residents across multiple states. At least 826 people have sustained injuries, while 115 remain missing.

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Dangiwa outlined Nigeria’s commitment to the UN-Habitat 2026–2029 Strategic Plan, praising Executive Director Ms. Anaclaudia Rossbach for prioritizing the transformation of informal settlements, access to essential services, and equitable housing. He presented Nigeria’s ongoing housing reforms as a replicable model for sustainable urban development that centers people, climate, and equity.

The Minister highlighted the achievements of the Renewed Hope Housing Programme, an ambitious initiative under President Bola Ahmed Tinubu. With over 10,000 housing units currently under construction across 14 states and the FCT, the first phase targets 50,000 new homes. Already, the programme has created more than 250,000 direct and indirect jobs an early indication of its economic multiplier effect.

Looking ahead, Dangiwa noted that Nigeria needs to build at least 550,000 homes annually to meet its population demands. If executed with sustainability in mind, such efforts could generate up to 13.7 million jobs each year. He also detailed the Renewed Hope Social Housing Estates initiative, which aims to deliver 100 affordable homes in each of the country’s 774 local government areas creating nearly 2 million jobs and stimulating growth in underserved regions.

To ensure affordability, Dangiwa stated that low-income households would contribute no more than one-third of their income toward housing costs, with the government bridging the gap through subsidies, tax incentives, and bulk procurement. Thirty percent of these homes will be provided free to the most vulnerable Nigerians underscoring a commitment to equity and inclusion.

Rounding off his address, the Minister spotlighted the National Urban Renewal and Slum Upgrade Programme, which has delivered over 150 infrastructure projects, with 100 more ongoing. These interventions ranging from clean water and sanitation to solar lighting and road access are designed to uplift communities and enhance quality of life. “Housing,” Dangiwa said, “when aligned with social and climate goals, becomes a platform for dignity, recovery, and development.” He reaffirmed Nigeria’s commitment to working with global partners to scale these solutions across borders.

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