Connect with us

News

The Role of Certificate of Occupancy in Property Valuation Method in Nigeria by Dennis Isong

Published

on

285 Views

In Nigeria’s real estate landscape, property valuation serves as a crucial process that determines the worth of a property for various purposes, including buying, selling, and securing loans.

One significant document that plays a pivotal role in this process is the Certificate of Occupancy (C of O). This legal document, issued by the state government, confirms an individual’s right to use and occupy land for a specified period.

Understanding the interplay between the C of O and property valuation is essential for investors, developers, and homeowners alike, as it can significantly influence market perceptions and property prices.

Understanding the Certificate of Occupancy

The Certificate of Occupancy is a legal document that signifies ownership and the right to occupy land.

In Nigeria, land ownership is primarily governed by statutory laws, customary laws, and the Land Use Act of 1978, which mandates that all land in urban areas is owned by the government.

Thus, the issuance of a C of O is necessary to establish a legal claim over any parcel of land.  Obtaining a C of O is a comprehensive process that involves several steps, including land survey, payment of necessary fees, and completion of relevant documentation.

Once issued, the C of O provides security to the landowner by guaranteeing their rights against unlawful eviction or encroachment.

This security is a significant factor in property valuation. Properties with a valid C of O are generally seen as more valuable and less risky compared to those without, as the certificate signifies legal recognition and ownership rights.

C of O and Market Perception

The presence of a C of O can significantly influence market perception and the demand for a property. Properties with a valid Certificate of Occupancy are typically viewed as more desirable by potential buyers and investors.

This perception stems from the legal security that a C of O provides. Buyers are more likely to invest in properties with a C of O because they have assurance that their rights are protected, and the likelihood of disputes regarding ownership is minimized.

Moreover, lenders and financial institutions often require a C of O before approving loans for property purchases or developments.

A valid C of O enhances the credibility of the property, making it easier for buyers to secure financing.

In Nigeria, a C of O is usually granted for 99 years, and this long tenure can positively influence a property’s valuation.

This accessibility to finance, in turn, can lead to increased property demand, thereby driving up its valuation.

Conversely, properties lacking a C of O may be perceived as risky investments, resulting in lower valuations and reduced buyer interest.

Thus, the C of O serves as a critical indicator of a property’s reliability and marketability.

C of O in the Property Valuation Process

In the property valuation process, a valuer considers various factors to determine the value of a property. These factors typically include location, size, condition, and comparable sales in the area. However, the existence of a C of O is often a prominent consideration.

During the valuation process, valuers will assess the C of O to ascertain the legal standing of the property.

A valid C of O not only confirms ownership but also indicates compliance with local land use regulations, zoning laws, and building codes. Valuers may also take into account the duration of the C of O.

In Nigeria, a C of O is usually granted for 99 years, and this long tenure can positively influence a property’s valuation.

The security provided by a long-term C of O assures potential buyers of their rights over the property for an extended period, making it a more attractive investment.

Conversely, properties without a C of O, or those with expired or disputed certificates, may be valued lower due to the inherent risks associated with such properties.  

Furthermore, a C of O can impact future development potential, which is a crucial aspect of property valuation.

Properties with a valid C of O are more likely to receive the necessary approvals for development or alteration, while those without may face legal hurdles.

This potential for development can enhance the property’s value, as it indicates future income generation possibilities.

Consequently, valuers consider the C of O as a critical factor that influences the overall worth of the property in the market.

Challenges and Implications of C of O in Property Valuation

Despite its importance, the C of O is not without challenges. The process of obtaining a C of O can be lengthy and complex, leading to delays in property transactions.

In some cases, disputes over land ownership can arise, particularly in areas where customary land tenure systems are prevalent.

These disputes can complicate the valuation process, as properties with contentious C of Os may be difficult to sell and consequently valued lower.

Additionally, the presence of a C of O does not automatically guarantee a problem-free investment. Factors such as environmental issues, development restrictions, or changes in land use policies can affect property value.

Valuers must therefore conduct thorough due diligence, considering not only the existence of a C of O but also any associated risks or liabilities. 

In conclusion, the Certificate of Occupancy plays a crucial role in property valuation methods in Nigeria.

As a legal document that signifies ownership and security, it significantly influences market perception and property demand.

Valuers must consider the C of O when assessing a property’s value, as it reflects the legal standing and development potential of the land.

However, challenges associated with the C of O, such as ownership disputes and regulatory complexities, must also be navigated to ensure accurate valuations.

For stakeholders in the Nigerian real estate market, understanding the importance of the C of O is vital for making informed investment decisions and maximizing property value.  

▪︎ Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Botswana, Nigeria Explore Deeper Collaboration in Livestock Development (Photos)

Published

on

35 Views

The Federal Government has reaffirmed its commitment to implementing evidence-based policies that will modernise Nigeria’s livestock sector and position it as a key driver of national economic growth.

The Honourable Minister of Livestock Development, Idi Mukhtar Maiha, reiterated this position on Friday, 12th December 2025, when he received Her Excellency, Philda Nani Kereng, High Commissioner of the Republic of Botswana to Nigeria, during a courtesy visit to the Ministry in Abuja.

He emphasised that the nation can no longer rely on outdated systems but must embrace structured reforms that support productivity, enhance value addition, and create sustainable livelihoods for farmers and livestock value-chain actors.

“The Botswana experience is a major inspiration. Your nation has achieved in 50 years what the world continues to study, and we are interested in domesticating many of those lessons,” the Minister said.

“Nigeria, as the largest market in Africa, is ready to expand its livestock sector to compete globally, while also partnering with Botswana to accelerate the journey,” he added, noting the country’s unique success in exporting beef to Europe, managing transboundary diseases, and integrating technology in livestock traceability.

He stressed Nigeria’s readiness to learn from Botswana’s model, especially as the Ministry moves to rehabilitate and modernise 417 grazing reserves across the country into structured ranching ecosystems.

In her remarks, the High Commissioner highlighted Botswana’s five-decade success story in beef production and export to the European market, describing it as a product of deliberate policies, strong governance structures, and extensive farmer support systems.

She explained that Botswana’s livestock sector grew from a rural development model that prioritised agriculture, backed by policies and laws enabling farmers to produce high-quality cattle for livelihood improvement and national economic growth.

Her Excellency noted that Botswana’s beef sector, second only to diamonds in national revenue, thrives on strict disease-control systems, communal land management, targeted veterinary interventions, and highly subsidised farmer support programmes.

She outlined several areas where Botswana is prepared to collaborate with Nigeria, including beef quality improvement through enhanced genetics, modern abattoir practices, disease management, veterinary protocols, vaccine production, livestock traceability and grazing management.

Continue Reading

News

JUST IN: Supreme Court Reinstates Death Sentence for Maryam Sanda, Overrides President’s Pardon

Published

on

29 Views

Nigeria’s Supreme Court on Friday overturned the presidential pardon granted to Maryam Sanda, the Abuja housewife convicted of stabbing her husband to death in 2018, reinstating her original death sentence by hanging.

Sanda, 37, was sentenced to death in January 2020 by Justice Yusuf Halilu of the FCT High Court for culpable homicide punishable with death after she fatally stabbed Bilyaminu Bello during a heated domestic dispute over alleged infidelity. The Court of Appeal upheld the conviction in December 2020, and the Supreme Court affirmed it in 2023, exhausting her appeals.

In October 2025, President Bola Tinubu initially granted Sanda a full pardon as part of clemency extended to 175 convicts, citing her family’s pleas for the sake of her two children, her good conduct in prison, and remorse. However, amid public backlash, the administration revised the decision, commuting her sentence to 12 years imprisonment on compassionate grounds.

The Supreme Court’s 4-1 majority decision, delivered by Justice Moore Adumein, dismissed Sanda’s final appeal as meritless. Adumein ruled that the prosecution had proven its case beyond reasonable doubt, affirming the lower courts’ findings that Sanda’s actions constituted intentional murder.

Crucially, the apex court held that the executive branch’s exercise of pardon powers under Section 175 of the 1999 Constitution was invalid in this instance, as Sanda’s appeal was still pending before the judiciary at the time of the grant. “It was wrong for the Executive to seek to exercise its power of pardon over a case of culpable homicide in respect of which an appeal was pending,” Justice Adumein stated in the lead judgment.

The dissenting justice argued for upholding the commutation, emphasizing humanitarian considerations for Sanda’s children and her time served—over seven years at Suleja Medium Security Custodial Centre.

The ruling has reignited national debates on the separation of powers, domestic violence, and the application of the death penalty. Sanda’s family expressed devastation, while Bello’s relatives hailed the decision as long-overdue justice. Rights groups decried the outcome, calling for legislative reforms on prerogative of mercy.

Sanda remains in custody pending any further legal maneuvers, though options appear exhausted. The Attorney General’s office confirmed investigations into the pardon process’s procedural flaws.

Continue Reading

News

Bayelsa deputy gov Ewhrudjakpo dies at 60

Senator Ewhurudjakpo, 60, an associate of Senator Seriake Dickson, was one of the elected officials, who insisted on remaining in the Peoples Democratic Party, PDP and refused to defect with Governor Duoye Diri to the All Progressives Congress, APC,

Published

on

By

45 Views

•Senator Lawrence Ewhrudjakpo

Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, is dead,aged 60.

Ewhrudjakpo collapsed yesterday while descending a staircase shortly after a meeting in his office .

He was immediately taken to the Federal Medical Centre (FMC), Yenagoa.

Hospital sources disclosed that he arrived unconscious and was moved to the Emergency Unit before being transferred to the Intensive Care Unit (ICU) and efforts to revive him failed.

His media aide, Doubara Atasi, confirmed the incident but did not provide further details.

Sympathizers stormed the hospital in large numbers after the news broke, forcing security personnel to tighten control around the facility.

Ewhrudjakpo was born on September 5, 1965. He had served as deputy governor since 2020, represented Bayelsa West in the Senate, and previously held the position of Commissioner for Works.

The Peoples Democratic Party, PDP, in a statement by its National Publicity Secretary Ini Ememobong confirmed the demise of the deputy governor, which it described as inexplicable.

Senator Ewhurudjakpo, 60, an associate of Senator Seriake Dickson, was one of the elected officials, who insisted on remaining in the Peoples Democratic Party, PDP and refused to defect with Governor Duoye Diri to the All Progressives Congress, APC, recently.

Ewhrudjakpo, once a close political ally of Governor Diri, reportedly fell out with his principal after refusing to follow him in resigning from the PDP on October 15.

Continue Reading

Trending