An estate surveying and valuation firm, Ubosi Eleh + Co, has stated that ensuring proper documentation of properties is the surest way to fight poverty.
A principal partner at Ubosi Eleh + Co, Emeka Eleh, stated this on Friday in Lagos while addressing journalists during a pre-event press briefing to mark the company’s 35th anniversary, billed for the second week in June.
Eleh stressed that when a property is properly titled, it will be easier for the owner to get loans using the property.
“We have always advocated that, to grow the economy and to fight poverty and put money in the hands of people, one way will be to give titles to the properties they own. Because everybody has access to property in one form or the other. If you don’t have one in Lagos, you have one in your village, and every property has a value.
If you give me the title to what I have, let’s say if the property can give me N1bn or N2bn, that’s a lot of money for a small-scale business, but it is difficult for you to raise money from what you own without a title. If you own a car, you can sell the car easily because the car is registered in your name,” Eleh said.
