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The Finance Ministry says weak property documentation is stopping many Nigerians from using real estate to secure loans. Speaking in Abuja on November 2, MOFI Managing Director Armstrong Takang said fewer than 10% of properties in Nigeria have proper land titles, linking the gap to low credit access, weak investor confidence and fraud in the sector.
The Federal Ministry of Finance says poor land documentation remains a major barrier to credit access for property owners in Nigeria.
Armstrong Takang, Managing Director of the Ministry of Finance Incorporated, said fewer than 10% of properties in the country have proper land titles. He spoke on November 2, 2026 in Abuja at a House of Representatives stakeholder conference on a proposed National Real Estate Regulatory Authority bill.
According to Takang, weak property documentation limits the ability of Nigerians to use their real estate as collateral for loans. That means many property owners may hold valuable assets but still struggle to access formal credit because their ownership records are not strong enough for lenders.
He also linked the problem to broader weaknesses in the real estate market. These include low credit penetration, weak investor confidence, fraudulent land transactions and inadequate regulation of the sector.
The comments place land titling at the centre of the policy discussion around housing, lending and real estate oversight. They also underline a longstanding challenge in Nigeria's property market, where ownership disputes, incomplete records and informal transactions can reduce the economic value of land and buildings.
Takang made the remarks during discussions on the proposed National Real Estate Regulatory Authority bill, which is being considered in the House of Representatives. The conference brought stakeholders together to examine the bill and the wider state of the sector.
Why it matters
Land and housing are among the biggest stores of wealth for many Nigerians. When ownership documents are weak or incomplete, that wealth becomes harder to convert into bankable collateral.
The Finance Ministry's position suggests the issue goes beyond paperwork. It affects lending, confidence in property transactions and the credibility of the wider real estate market. The reference to fraudulent land deals and weak regulation also points to risks for both buyers and investors.
What it means for your money
For ordinary Nigerians, the most direct money impact is access to credit. If a property lacks proper title, its owner may find it harder to use that asset to secure a loan from a formal lender.
This article does not provide evidence of any immediate change in loan rules, property prices or government charges. But it shows why documentation can matter financially for anyone buying, selling or borrowing against property.
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Attention will now focus on deliberations around the proposed National Real Estate Regulatory Authority bill discussed at the Abuja stakeholder conference. Readers should watch for any legislative action, regulatory proposals or official steps aimed at improving land documentation and reducing fraud in property transactions.
The key point from the Finance Ministry is clear: weak land titles are limiting the financial usefulness of property in Nigeria. Until documentation improves, many owners may continue to face barriers in turning real estate into secure, formal credit.
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