National Economy
Friday, May 9, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Federal Gov’t To Review Compensation Rates For Crops, Economic Trees

by Ruth Nwokwu
7 months ago
in Business, Agriculture
Reading Time: 2 mins read
Economic Trees
Share on FacebookShare on TwitterShare on Telegram

The Minister of Housing and Urban Development, Ahmed Dangiwa has announced plans to review compensation rates for crops and economic trees, to ensure fairness for landowners affected by infrastructure projects.

Dangiwa revealed this on Monday in Abuja at the 2024 National Technical Development Forum (NTDF) on Land Administration with the theme: “Review of Compensation Rates on Crops and Economic Trees for Project Affected Persons in Nigeria.”

He emphasised the need for the review, pointing out that the current compensation rates, established in 2008, are outdated and fail to align with present economic conditions or international standards.

“In light of this, the Federal Government is reviewing these rates to ensure fairness and justice for landowners affected by expropriation.

You May Like

Court Grants EeZeeTee N20m Bail Over Alleged $255,000 Forex Fraud

NiMeT Prediction: Kwara Gov’t Issues Advisory To Farmers, Residents

“This review, supported by the Rural Access and Agricultural Marketing Program (RAAMP), seeks to ensure that compensation reflects the true market value of lost assets.

“These include long-term investments like cocoa, oil palm, rubber, and cashew trees, which generate income for affected communities,” he said.

Dangiwa also highlighted the importance of fair compensation for crops and economic trees, describing them as economic assets and cultural symbols tied to years of labour and heritage.

He stressed the importance of updating compensation rates to reflect their true value, given the financial and emotional impact of land acquisition.

The minister also noted that the Land Use Act of 1978, while providing a framework for compensation, has faced challenges in implementation, resulting in delays, disputes, and inadequate payouts.

He stressed that under the current administration, fair compensation for crops and economic trees has become a legal and moral duty.

Dangiwa further assured of government’s commitment to equity and the protection of vulnerable citizens, ensuring that development projects do not further impoverish Project Affected Persons (PAPs) but instead foster prosperity and national growth.

“Together, we must develop a policy framework that balances development needs with the protection of livelihoods and the environment.

“Let us remember that the true measure of development is not only in the infrastructure we build or the projects we complete, but in the lives we uplift and the communities we strengthen.

“I have full confidence that the outcomes of this forum will pave the way for a more equitable, just, and transparent compensation system for all project-affected persons in Nigeria to secure the future of farmers and landowners,” he stated.

ShareTweetShare
Previous Post

US Court Clears Air Peace CEO Onyema, Slams $4,000 Fine On Springfield Aviation Ex-Staff

Next Post

Federal Gov’t Moves To Fix Incessant Power Grid Collapse In 9 Days

ANOTHER GOOD READ

Court Grants EeZeeTee N20m Bail Over Alleged $255,000 Forex Fraud
Business

Court Grants EeZeeTee N20m Bail Over Alleged $255,000 Forex Fraud

6 hours ago
NiMeT Prediction: Kwara Gov’t Issues Advisory To Farmers, Residents
Business

NiMeT Prediction: Kwara Gov’t Issues Advisory To Farmers, Residents

2 days ago
JUST-IN: Suspected Sea Pirates Abduct 13 Persons In Rivers
Business

JUST-IN: Suspected Sea Pirates Abduct 13 Persons In Rivers

2 days ago
African Startups Raise $343m In April
Business

African Startups Raise $343m In April

3 days ago
Dangote Hails Tinubu Over NNPCL Leadership Choice
Business

Dangote Hails Tinubu Over NNPCL Leadership Choice

3 days ago
‘Kyari’s Record At NNPCL One Of The Most Transparent’, Lawyers Dismiss EFCC Probe
Business

‘Kyari’s Record At NNPCL One Of The Most Transparent’, Lawyers Dismiss EFCC Probe

4 days ago
Next Post
Federal Gov’t Moves To Fix Incessant Power Grid Collapse In 9 Days

Federal Gov't Moves To Fix Incessant Power Grid Collapse In 9 Days

Most Recent

Kwara Gov Approves Recruitment Of More Medical Workers

Kwara Gov Approves Recruitment Of More Medical Workers

May 9, 2025
Nigeria Loses $3.6bn Annually To Foodborne Illnesses

Nigeria Loses $3.6bn Annually To Foodborne Illnesses

May 9, 2025
Senate Passes 2 Remaining Tax Reform Bills, Recommends Tax Tribunal

Senate Passes 2 Remaining Tax Reform Bills, Recommends Tax Tribunal

May 9, 2025

Olubadan Suspends 2 Chiefs Over Alleged Land Grabbing

May 9, 2025
Fire Destroys Multimillion Naira Foam Factory In Oyo

Fire Destroys Multimillion Naira Foam Factory In Oyo

May 9, 2025
Court Grants EeZeeTee N20m Bail Over Alleged $255,000 Forex Fraud

Court Grants EeZeeTee N20m Bail Over Alleged $255,000 Forex Fraud

May 9, 2025
TomTom Launches 2025 BTI Verse Challenge with Yaba Showdown   

TomTom Launches 2025 BTI Verse Challenge with Yaba Showdown  

May 8, 2025
2025 Hajj: Sokoto Begins Airlift Of Intending Pilgrims May 9

2025 Hajj: Sokoto Begins Airlift Of Intending Pilgrims May 9

May 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy