Ilorin
Kwara State Governor AbdulRahman AbdulRazaq has signed the 175 the certificates of occupancy (C of Os) pending since 2016 to help businesses to raise capital from banks and strengthen the local economy.
The Director General of the Bureau of Land, Barr.Bolaji Edun, said this in a statement on Friday in Ilorin that “the feat was unprecedented in the recent history of the state.”
He said:“All in all, the Governor has signed 175 C of Os. He also gave approval for 102 subsequent transactions like mortgages, leases, assignments that had been pending since 2016 to date.
“The effect of this singular act of the Governor is that,the economy of the state will pick up immediately after the COVID-19 lockdown.”
He said the step would enable owners to access loans in the capital market to kick-start or expand their businesses.
“There will be inflow of capital to the state and this will have spiralling effects on the economy including the informal sector. It is going to be a win-win situation for everyone.
“The development will have huge impacts on Kwara’s rating in the upcoming national ease of doing assessments as prompt issuance of C of Os and other legal documents which serve as collateral.
The director-general described as critical to people’s access to loans to run their businesses.
Duaglobalnews reports that a 2018 World Bank ease of by by by doing business rated Kwara low in quick issuance of C of O among other criteria and key to attracting businesses to the state.
