The Dead Captital


The Nigerian National Assembly complex is the legislative building that houses the two (2) chambers of the Nigerian National Assembly; the building built at the cost of about $35.18m was dedicated in 1999. Till date, it is a unique symbol of democracy, rule of law and separation of powers in Nigeria where laws for the peace, progress & economic development of the country is made.

Nigeria is currently regarded as a third world country. Without doubt, there are steps which if taken will catapult Nigeria to its rightful place in the comity of nations.

Year in year out, various institutions do a study on the ease of doing business in Nigeria and one wonders if the powers that be ever get to read these reports just to make impactful positive adjustments rather than just gallivanting across the nation to share tradermoni.

Over the years Nigerians have devised several means of securing ownership of their properties on their own despite the fact that we have a government in place; one of such is; “This house is not for sale”.

The Land Use Act came into being in 1978 and one wonders if government will ever be propelled to amend this piece of legislation that will have massive economic impact on Nigerians.

Credit has the ability to build a modern economy while lack of credit has the ability to swiftly destroy the economy of any nation. About 70% of all loans granted by Nigerian banks are secured by property; it is frustrating to know that less than 10% of land owners in Nigeria are eligible for loans because of lack of proper documentations.

While some states have started making reforms in their land legislation processes; it takes forever in other states.

We have so many laws that need to be amended and many more bills must be passed if we are truly interested in alleviating Nigerians out of poverty.

Until methods of owning properties and transferring same are easily accessible, the dead capital in those properties cannot be maximally unlocked.

Vacating the position of the poverty HQ of the world will require comprehensive legislation and political will. Nigeria has the ability to become an economic world power in a few years, we have a high number of hardworking population who just needs the right environment to soar; we have abundant natural resources begging for exploration.

We need the right people in positions of authority, to effect real positive changes. Right now there are so many dead woods sitting behind many political desks across the federation. Just too many round pegs in square holes.

Every future looking Nigerian no matter the religious, ethnic or political divide, must join hands to demand for effective legislation & good governance from the various legislative houses and executive arms of government respectively.

Nigeria shall become the most desirable country to live in on the planet earth.

God bless you!
God bless Nigeria!

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1 comment

Adeyemi Awoshakin April 24, 2019 - 2:30 pm

Good piece.
I guess you intended writing “unable to secure loan due to proper documentation”
We hope to see Nigeria of our dreams as we all take the right steps at our own corners.
Thank You.


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