What is compensation in land law?

CAP 202 LFN 2004. ‘Compensation is the sum of money which the owner would have gotten had he sold the land on the open market plus other losses which results from the acquisition process. It is thus sacrosanct that compensation follows compulsory acquisition processes’.

What is Section 11 of Land Acquisition Act 2013?

Section 11 Publication of preliminary notification and power of officers thereupon – The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013.

What is the compensation for land acquisition for national highway?

NH- 11011/140/2017-P&M/LA dated 7th September 2017, vide which it was clarified that the said ‘amount’, not being part of the First Schedule to the Act, was not payable in respect of land acquisition under the NH Act, 1956, it is clarified that the amount’ calculated @ 12\% per annum, as prescribed under Section 30(3) …

What is Land Acquisition Act 2020?

An Act to ensure, in consultation with institutions of local self-government and Gram Sabhas established under the Constitution, a humane, participative, informed and transparent process for land acquisition for industrialisation, development of essential infrastructural facilities and urbanisation with the least …

What is the Land Use Act of Nigeria?

he Nigerian Land use Act of 1978 abolished the existing land tenure systems and replaced them with a uniform Land Administration system across the Country. Prior to the Act, there were three land tenure systems.

What is Section 24 of land acquisition Act?

Then came the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Section 24 in the 2013 Act was enacted to undo the historical wrong done after the British rule by the Land Acquisition Act, 1894 (hereinafter referred to as “1894 Act”).

How do you calculate land acquisition compensation?

The new Act stipulates that the minimum compensation is to be a multiple of the total of the ascertained market value, plus value of the assets attached to the property, plus a solatium equal to 100\% of the market value of the property including value of assets.