FG, World Bank to review land compensation rates

The Federal Government, in collaboration with the World Bank and Ogun State Estate Surveyors and Valuers, is working to establish equitable compensation rates for land acquisition, particularly focusing on crops and economic trees.

The National Coordinator of RAAMP, Bodinga Aminu, highlighted this initiative during a visit to the Bureau of Lands and Survey in Abeokuta.

He emphasised RAAMP’s role in constructing rural access roads financed by the World Bank, alongside state-funded projects.

Aminu stressed the necessity of updating the compensation guidelines, last revised 16 years ago, to reflect current realities.

The goal, according to him is to prevent disputes and ensure affected individuals receive adequate compensation, thereby supporting state development efforts.

“The mandate extends beyond road construction to ensuring just compensation for affected parties, safeguarding livelihoods and minimizing litigation,” Aminu added.

The Ogun State Bureau of Lands and Survey, Ms. Temitope Adewunmi said, “Our purpose here is to introduce a framework for assessing the value of crops and economic trees, which are not regularly traded commodities like houses. This framework aims to guide fair compensation practices during land acquisition.”

The World Bank Senior Social Development Specialist, Michael Ilesanmi, underscored the critical role of valuers in land administration, emphasising the need for robust land rights protection to attract investors to Ogun State’s burgeoning sectors.

“Land holds cultural, historical, and economic significance. Proper compensation practices are crucial as Ogun State positions itself as an attractive destination for education, manufacturing, and agriculture investments,” Ilesanmi remarked.

The Director-General of Lands, Segun Fowora, welcomed the initiative, noting its potential to enhance transparency and cooperation between landowners and investors.

“The Bureau has faced challenges with landowners feeling undercompensated during acquisition processes. This initiative will bridge gaps and clarify benefits, including Corporate Social Responsibility impacts,” Fowora affirmed.

He expressed optimism about the review process, expecting it to streamline land access, administration, and compensation practices in Ogun State.