The Federal Capital Territory, FCT, Minister, Nyesom Wike, has reduced the fee for issuance of Certificates of Occupancy, C-of-Os, for plots of land in Abuja.

Those seeking to get their C-of-O will now pay N3.5 million, instead of N5 million.

The initial announcement of N5 million was opposed by stakeholders and key players in the real estate sector.

A statement signed by the Director of Press (Office of the FCT Minister), Anthony Ogunleye, said Wike announced the decision during his second monthly ministerial press briefing on Friday.

Wike had indicated days ago that there would be a downward review of the C-of-O fee.

According to him, the new price is a flat rate for all sizes of land regardless of the location of the land in the Federal Capital Territory.