A Real Estate Investor, Mr. Godswill Adum, has called for the review of the Land Use Act to meet the current realities of the country.
Adum, who spoke with our Reporter in Abuja recently, said the current Land Use Act is not favourable to Farmers who had laboured to plant economic trees.
He said the compensation aspect of the act needs to be looked at in order to favour the traditional landowners who had labour so hard to plant economic trees that would be taken over by the land buyers.
Adum, who is the Principal Partner, Aadum and Company, an Abuja-based real estate firm, said: “The Land Use Act for me as an Estate Surveyor needs to be looked at again because there some areas that don’t agree to reality on ground now.”
“Take for instance, when it comes to compensation which is what we are involved in, you see that the provisions of the Land Use Act are not realistic.”
“For instance, you have a farmland with economic trees and the government wants to acquire that land, the provision in the Act is that “you should be compensated for a palm tree with five to ten thousand naira’’. How realistic is that?”
The real estate investor said “Government should review that and say that “any compensation should be based on potential income that they generate from that land”. This can always be in line with economic reality at all times”.