Nigeria, Nov. 3 -- The Managing Director of the Ministry of Finance Incorporated (MOFI), Armstrong Takang has said that less than 10 per cent of properties across Nigeria have proper land titles, a situation that limits access to credit, discourages investment and weakens confidence in the country's real estate market.

Mr Takang made the disclosure on Monday in Abuja at a stakeholder conference organised by the House of Representatives on a proposed legislation to establish the National Real Estate Regulatory Authority (NRERA).

He said the lack of reliable property documentation has left many Nigerians unable to use their assets as collateral to secure loans, thereby restricting the economic benefits they could derive from property owne...