Business
What to Expect from Real Estate Companies in Lagos As A First-Time Buyer by Dennis Isong
“Marketing is their superpower. They will show you flashy 3D designs, promise you world-class infrastructure, and make you feel like you’re buying a piece of Dubai in Ibeju-Lekki.”
So, you’ve finally decided to buy land or a house in Lagos. Congratulations!
You’re about to step into the unpredictable, sometimes dramatic, and always exciting world of Lagos real estate.
If you’re dealing with a real estate company for the first time, you might be wondering: What should I expect?
Well, let me prepare you. Some things will make you smile, some will test your patience, and some will make you wonder if you should have just stayed a tenant forever.
But don’t worry—I’ve got you covered.
1. A Lot of Marketing Hype
The first thing you’ll notice when dealing with real estate companies in Lagos is that they know how to sell a dream.
You’ll hear phrases like:● “Buy now! Price increases tomorrow!”● “Fastest-growing estate in Lagos!”● “C of O is in process” (what does ‘in process’ even mean?)
Marketing is their superpower. They will show you flashy 3D designs, promise you world-class infrastructure, and make you feel like you’re buying a piece of Dubai in Ibeju-Lekki.
While some of these promises are real, some are just sugarcoating.
Always ask questions and verify every claim.
2. Payment Plans That Sound Too Good to Be True.
Many real estate companies offer installment payments. This is great news, especially if you don’t have all the money at once.
However, read the fine print carefully. Some of them will tell you it’s “zero interest” but hide extra charges in other places. Others will offer discounts that only apply if you pay immediately.
Ask about:● Total cost after installments – Don’t just focus on the monthly payment; check how much you’ll pay in the end.
● Hidden fees – Development fees, documentation fees, survey fees—these things add up!
● Penalty for late payment – Some companies charge ridiculous fees if you miss a payment.
3. Titles and Documentation Confusion
Ah, the famous Lagos land titles. This is where many first-time buyers get confused.
A real estate company might tell you they are selling land with “Excision in Progress” or “Gazette Available.” Sounds good, right?
But what does it really mean?Here’s a simple breakdown:
● C of O (Certificate of Occupancy) – The safest and strongest title. If your land has this, you can sleep well at night.
● Governor’s Consent – Almost as good as a C of O. It means the government has approved the transaction.
● Excision – The government has released the land to the community, but it’s not yet fully documented.
● Gazette – A record showing that the land is excised. It’s a step in the right direction but still needs further documentation. If a company cannot clearly explain the land title to you, be careful.
Always verify with a property lawyer.4. Site Inspections:
What You See vs. What You Get
When a real estate company invites you for a site inspection, prepare yourself mentally. Some estates look perfect on flyers but appear very different in real life.
You might find that:
● The roads are not as smooth as they looked in the advert.
● The estate gate is just a wooden plank.
● The “five minutes from the express” location is actually 15 minutes by Okada on a bumpy road.
Always visit the site before paying. Don’t buy land based on just pictures or drone shots. And if the company refuses to take you for an inspection, that’s a red flag.
5. Sweet-Talking Sales Agents
Sales agents are some of the friendliest people you will ever meet.
They will call you “boss,” “madam,” and sometimes even “our landowner.” Their job is to make you feel like this is the best decision of your life.
But remember, their goal is to close a sale.A few things to note:
● Don’t let pressure make you rush into buying.
● Ask them direct questions—if they dodge, be cautious.● Verify all information from a second source.
6. Delays in Allocation
Many real estate companies in Lagos sell land that is yet to be fully developed.
If you’re buying into an estate that promises allocation at a later date, be prepared for possible delays.
Some people wait months or even years before getting their plots.
To avoid frustration:● Ask for a timeline for allocation.
● Find out if other buyers have already received their plots.
● Get everything documented in writing.
7. Development Fees and Other Surprise Costs
One thing Lagos real estate companies will not always tell you upfront is that buying land is just the first step.
There are other costs, such as:
● Survey Plan Fee – Required to register your land.
● Deed of Assignment Fee – Legal documentation of your ownership.
● Development Levy – To build estate roads, drainage, and electricity.
Before making payments, ask for a breakdown of all charges. If they say, “Don’t worry, we will discuss it later,” don’t believe them.
8. Real vs. Fake Companies
Not all real estate companies in Lagos are legitimate. Some are run by land grabbers (Omo Onile) or individuals looking to scam unsuspecting buyers.
To protect yourself:
● Check if the company is registered with CAC (Corporate Affairs Commission).
● Ask for reviews from past buyers.
● Visit their office—if it’s a small kiosk, be careful.Final Advice for First-Time Buyers
Buying property in Lagos can be rewarding if you do it right.
Here are a few final tips:
1. Do your research – Don’t just take the company’s word for it.
2. Use a lawyer – A real estate lawyer will save you from expensive mistakes.
3. Be patient – Rushing can lead to regret.
4. Keep records – Save every receipt, agreement, and message exchanged.
At the end of the day, Lagos real estate is like Jollof rice—it’s sweet, but if you don’t cook it well, you might end up with something you didn’t bargain for.
If you need help navigating this journey, feel free to reach out.
I’m always ready to help you secure your piece of Lagos without stress.
STOP LOSING MONEY IN LAGOS REAL ESTATE!
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Business
Dangote Refinery’s IPO Ends Tomorrow
“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.
[File photo] Opening ceremony of Dangote Refinery’s IPO on the NGX, September 14,2026
Dangote Petroleum Refinery & Petrochemicals has confirmed that its Initial Public Offering (IPO) will close on Tuesday, 27 October 2026 as scheduled, with no extension.
In a statement, the management said that the IPO has become a historic ownership moment, an opportunity for Africans at home and abroad to own a stake in one of the continent’s most strategic industrial assets.
“Investors recognise that this refinery is not merely an energy asset. It is a platform for industrial growth, foreign-exchange generation, regional trade, energy security and economic development across Africa,” management said.
The offer was structured to ensure ordinary investors participate alongside institutions, broadening ownership of the world-class asset.
“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.
Business
Dangote Visit London Stock Exchange Ahead of November Cement Listing
Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.
Aliko Dangote visited the London Stock Exchange on Friday, October 23, 2026, as Dangote Cement Plc prepares a proposed $1 billion share sale and a secondary listing in the United Kingdom.
The company is reportedly targeting November 2026 for the listing, subject to market conditions and regulatory approval.
A video circulating on social media captured the visit, with exchange officials and attendees welcoming Africa’s richest man.
The trip is part of efforts to pull international investment into his business empire.
The proposed deal could see Dangote Cement offer about 10% of its equity to international investors, potentially raising roughly $1 billion.
The final timetable is not fixed and remains subject to market conditions and regulatory requirements.
Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.
That could raise the company’s visibility with international institutional investors, including pension funds, asset managers and other investment firms.
The share sale has not been completed. Its final structure, valuation and pricing are still subject to confirmation.
Business
Olagunju to head JPMorgan’s Proposed Nigerian Merchant Bank
The proposed bank would expand JPMorgan’s presence beyond its representative office in Lagos. It could undertake a broader range of regulated banking activities after securing a final licence.
The Central Bank of Nigeria has granted JPMorgan approval-in-principle to establish a merchant bank in Nigeria.
The regulator also approved Adedapo Adedayo Olagunju as Managing Director of the proposed JPMorgan Merchant Bank Nigeria Limited.
The approval came on Friday, October 23, 2026. The bank has not received its final operating licence.
Olagunju has led JPMorgan’s West African operations since 2018.
He is an Oxford-trained banker with more than two decades of experience in treasury management, financial markets, institutional banking and structured finance.
His appointment puts him in line to head the American bank’s proposed Nigerian merchant bank once final licensing is completed.
The CBN also approved four non-executive directors and three independent non-executive directors for the proposed institution.
The proposed bank would expand JPMorgan’s presence beyond its representative office in Lagos. It could undertake a broader range of regulated banking activities after securing a final licence.
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