Land Ownership to be liberalized- President Yar’adua
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Jun 8, 2007, 12:04

President Umaru Musa Yar'Adua on June 7, revealed his administration’s intention to amend the land laws, so that investors and individuals will own land and use it to raise capital for their businesses

President Yar’adua who is in Berlin, Germany for the G-8 Meeting, said this during a business meeting with the German Investment Development Corporation in Berlin adding that the Land Use Act will be amended to enable Nigerians use their land to secure loans from the banks.

According to him “My first priority is the economy, my second priority is the economy and the third is the economy", and” My other priorities are the power sector, transportation, education, and getting direct foreign investment to Nigeria.

President Yar'Adua who said one of his expectations from the G-8 Meeting was to convince the industrialized nations to invest in infrastructure in Africa especially power and transportation, also expressed his administration’s resolve to continue the fight against corruption started by President Olusegun Obasanjo, commending that government for putting the necessary legislation in place.

He also said the Extractive Industries' Transparency Initiative would be pursued vigorously and personally, to ensure that Nigeria's oil and gas industries were operated transparently, for the benefit of all Nigerians.

The President assured the German business community that Nigeria would do all possible to create a conducive atmosphere for investment.



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