Banking News – The Ministry of Land Management, Cooperatives, and Federal Affairs and General Administration has initiated the establishment of Land Banks across local governments nationwide to bring unused and fallow private land into productive use.

In a public notice, the ministry stated that, in accordance with the Land Use Act, 2019 (2076 BS) and the Land Use Regulations, 2022 (Third Amendment, 2082 BS), private land that remains unused can now be managed through local governments under the newly introduced land banking mechanism.

According to the ministry, the Land Bank (Establishment and Operation) Procedure, 2026 (2083 BS) has already been approved to facilitate the implementation of the initiative. The procedure provides for the establishment and operation of a Land Bank in every local government, and the ministry has already circulated the necessary directives to all local bodies.

Under the new framework, each local government will establish and operate its own Land Bank to identify and mobilize unused or barren private land for productive purposes, with the aim of increasing agricultural production and promoting effective land utilization.

The ministry has urged landowners and all concerned stakeholders to contact their respective local governments to learn more about the Land Bank program and benefit from the new provisions.