News
The Profitable Venture of Building Warehouses on Land Property in Nigeria

By Dennis Isong
INVESTING in real estate has always been a reliable pathway to wealth generation, particularly in Nigeria, where the demand for land and property consistently rises due to rapid population growth. Among the various forms of real estate investments, building a warehouse on your land property stands out as a highly profitable venture.
What is a Warehouse?
A warehouse is a large building or structure primarily used for storing goods, merchandise, and materials. Warehouses serve as key nodes in the supply chain, where goods are received from suppliers, stored, and then distributed to retailers or customers.
They can range from small storage spaces to massive complexes covering thousands of square meters. The design of a warehouse is typically utilitarian, focusing on functionality, safety, and efficiency, with features like high ceilings, loading docks, and climate control systems to protect perishable items.
Uses of a Warehouse
- Storage of Goods: The primary function of a warehouse is to store goods, ranging from raw materials to finished products. This storage capability helps businesses manage their inventory and meet customer demands without the risk of stockouts.
- Distribution Hub: Warehouses often serve as distribution centers, where goods are received from various suppliers and then dispatched to retail stores, customers, or other warehouses.
- Order Fulfillment: In e-commerce, warehouses play a crucial role in order fulfillment, where products are picked, packed, and shipped to customers after an online purchase.
- Cross-Docking: This is a process where products from a supplier or manufacturing plant are distributed directly to customers or retail chains with minimal handling or storage time, reducing the need for warehouse space and speeding up delivery times.
- Product Consolidation: Warehouses can consolidate smaller shipments from different suppliers into a larger, single shipment, reducing transportation costs and increasing efficiency.
- Seasonal Storage: Businesses often need additional storage space for seasonal products. A warehouse provides the necessary space to store these goods until they are needed, such as holiday decorations or seasonal clothing.
- Inventory Management: Modern warehouses are equipped with inventory management systems that track the movement of goods, manage stock levels, and ensure efficient operations.
- Buffer Storage: Warehouses act as a buffer between production and consumption, allowing businesses to store excess inventory during times of low demand and release it when demand spikes.
- Packaging and Labeling: Many warehouses offer packaging and labeling services, where goods are repackaged, labeled, or customized before being shipped to their final destination.
- Product Testing and Inspection: Some warehouses are equipped with facilities for testing, inspecting, and even repairing products before they are shipped out to ensure quality and customer satisfaction.
Benefits of Warehouse Property Investment in Nigeria
- High Demand for Storage Space: Nigeria’s booming population and growing economy have led to an increase in the production and consumption of goods. This, in turn, has driven the demand for storage facilities, making warehouses a sought-after commodity. Companies in industries such as manufacturing, agriculture, retail, and e-commerce all require warehouse space to store their products and manage their supply chains effectively.
- Steady Rental Income: One of the primary benefits of building a warehouse on your land property is the potential for steady rental income. Companies are willing to pay premium prices to lease well-located and well-maintained warehouses. This provides property owners with a reliable and consistent source of income, often with long-term lease agreements that offer financial stability.
- Appreciation of Property Value: Investing in warehouse property not only generates rental income but also contributes to the appreciation of the property’s value over time. As urban areas expand and industrial zones develop, the value of land with functional warehouses increases. This makes it a lucrative investment for the future.
- Low Vacancy Rates: Warehouses, especially those located in strategic areas like Lagos, Abuja, and Port Harcourt, tend to have low vacancy rates. The consistent demand for storage space ensures that warehouse properties are rarely left unoccupied, reducing the risk for investors.
- Diverse Tenant Base: Warehouses attract a wide range of tenants from various industries, including logistics, manufacturing, retail, and e-commerce. This diversity reduces the risk of dependency on a single tenant or industry, providing a more stable investment.
- Scalability: Unlike residential or commercial properties, warehouses offer scalability. As your business grows, you can expand the warehouse space by acquiring adjacent land or optimizing the existing layout. This flexibility allows you to cater to larger tenants or store more goods, increasing your income potential.
- Tax Incentives: The Nigerian government, recognizing the importance of infrastructure and storage facilities, offers various tax incentives for warehouse construction and operation. These incentives can significantly reduce the overall cost of investment and increase profitability.
- Inflation Hedge: Real estate, including warehouse properties, is considered an effective hedge against inflation. As inflation rises, the value of the property and rental income tends to increase as well, preserving the purchasing power of your investment.
- Strategic Location Advantages: Warehouses strategically located near ports, airports, major highways, or industrial zones have a significant advantage. These locations reduce transportation costs and improve logistics efficiency for tenants, making such warehouses highly desirable.
- Potential for Conversion: Warehouses offer the potential for future conversion to other uses, such as retail spaces, offices, or residential units. This versatility adds to the long-term value of the investment.
How Warehouse Investment is Profitable for Nigerians in the Diaspora
For Nigerians in the diaspora, investing in warehouse property in Nigeria presents a unique opportunity to build wealth and maintain a connection to their homeland.
Nigerian tax laws offer various incentives and deductions for real estate investments, including warehouse properties.
Here’s how this investment can be particularly profitable:
- Currency Exchange Benefits:
Diaspora investors often have access to foreign currencies, which are stronger than the Nigerian Naira. Investing in warehouse properties allows them to take advantage of favorable exchange rates, reducing the overall investment cost while earning rental income in Naira. - Passive Income:
For Nigerians living abroad, managing day-to-day operations in Nigeria can be challenging. Warehouse investment offers a low-maintenance option to generate passive income. Once a warehouse is leased to a reliable tenant, it requires minimal oversight, allowing diaspora investors to enjoy steady income with limited involvement. - Portfolio Diversification:
Many Nigerians in the diaspora invest in real estate as a way to diversify their portfolios. Warehouse properties provide a unique asset class that offers both income generation and capital appreciation, helping to balance investment risk. - Leverage Local Knowledge and Networks:
- Diaspora investors can leverage local knowledge and networks to identify prime warehouse locations and negotiate favorable deals. Collaborating with local real estate experts ensures that they make informed decisions and maximize their returns.
- Contributing to Nigeria’s Economic Growth: By investing in warehouse properties, Nigerians in the diaspora contribute to the development of the country’s infrastructure. This investment helps create jobs, support businesses, and stimulate economic growth, which in turn, enhances the stability and value of their investments.
- Legacy Building:
Investing in warehouse property is a long-term venture that can be passed down to future generations. Diaspora investors can build a legacy for their families by acquiring valuable assets in Nigeria that will continue to generate income and appreciate in value over time. - Remote Management Solutions:
Advances in technology have made it easier for diaspora investors to manage their properties remotely. From digital lease agreements to online rent collection and property management platforms, investors can efficiently oversee their warehouse investments from anywhere in the world. - Tax Efficiency:
Nigerian tax laws offer various incentives and deductions for real estate investments, including warehouse properties. Diaspora investors can take advantage of these tax benefits to reduce their tax liabilities and increase their net returns. - Risk Mitigation through Property Management Companies:
For those concerned about managing properties from abroad, hiring a reputable property management company in Nigeria can mitigate risks. These companies handle tenant relations, maintenance, rent collection, and legal compliance, ensuring that the investment remains profitable without the investor’s constant involvement. - Potential for High Returns:
Given the high demand for warehouse space in Nigeria, especially in urban and industrial areas, the potential for high returns is significant. Diaspora investors can capitalize on this demand by investing in well-located warehouses, securing long-term tenants, and enjoying substantial rental income and property appreciation.
■ For personalized assistance with your property needs, contact Dennis Isong, a top Lagos realtor specializing in helping Nigerians in the diaspora own property stress-free.
Contact: +2348164741041
News
I nearly withdrew from 2023 presidential race -Tinubu

President Bola Tinubu has revealed that he nearly abandoned his 2023 presidential ambition following a moment of doubt during the election campaign.
“I almost dropped the idea of running for President,” Tinubu revealed on Saturday night at a special Iftar held in his honour at the Aso Rock Presidential Villa, Abuja, where he also thanked Nigerians for their overwhelming goodwill and prayers on his 73rd birthday.
Tinubu’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, disclosed the excerpts of the President’s dpeech in a statement signed in the early hours of Sunday titled ‘President Tinubu appreciates Nigerians for birthday well wishes, reveals he nearly quit 2023 presidential race.’
Reflecting on the pressures he faced, the President recounted how a close relative visited him in the middle of the night and questioned his resolve.
“Those close to me know that the odds were against me. During the campaigns. One came to my living room around 3:30 a.m. and said he needed just N50,000 to buy foodstuff for our uncle.
“He told me, ‘The currency is gone because of you. People are jumping over bank counters because there is no cash. Our uncle, a wealthy man, doesn’t even have N10,000 in cash.
What are you running for?’
“I told him, ‘I am running for President, not for you and our uncle.’ I gave him the N50,000. As he walked out, he turned to me and said, ‘I don’t think you will make it.’ I replied, ‘I will make it.’”
Tinubu added, “I was amazed. At that moment, I almost dropped the idea of running for President. But thanks to Aminu Masari and all of you who encouraged me.
“When I came to Abuja, Masari told me, ‘I am the Chairman of the North West Group; don’t look back.
”In his address, the President recognised the difficulties encountered along the path to the presidency and reaffirmed his commitment to advancing Nigeria’s progress.
Tinubu also noted that he assumed office during a period of economic challenges and had to make swift decisions, including scrapping the fuel subsidy on his inauguration day.
“On the day of my inauguration, I had to decide on something not originally in my speech, and that was the fuel subsidy removal.
“The hallmark of a great leader is the ability to make the right decision at the right time. That was the day I declared that the subsidy was gone.
“The following day, I was hounded and thoroughly abused in the media. But I stood firm, knowing it was the right thing to do for our nation’s future,” said Tinubu.
Vice President Kashim Shettima lauded the President’s leadership style, saying his decisions have tackled issues that haunted previous administrations.
He said, “Thanks to his boldness, future presidents of Nigeria will not have to wrestle with the same ghosts that haunted past administrations, including fraud-ridden fuel subsidies, an unstable forex market, and the suppression of local government autonomy.
“These were the thorny issues that many before him sidestepped. But Asiwaju did not sidestep history; he came to rewrite it.
“And in rewriting it, Asiwaju has taken the bullets that many before him simply lacked the courage to face. But that is the thing about true leadership: it is not for those who seek comfort.
It is for those who understand that the path to national greatness is lined with difficult choices.
”Senate President Godswill Akpabio applauded the President’s “relentless passion for national development” and described him as the “most audacious president” in Nigeria’s history.
“If I were a governor under your administration, I would have been a ‘supernatural governor’ and not an uncommon governor,” he remarked, adding that under Tinubu’s watch, governors receive more allocation.
Deputy Speaker of the House of Representatives Benjamin Kalu also commended the President for supporting him politically in 2019, even though they were from different regions.
“Today, he is at the forefront because Nigeria needs him. In 2019, despite not being from his region, he supported me in my most difficult political moment.
Nigeria needs leaders who rise above tribal considerations, and he has demonstrated that,” said Kalu.
Meanwhile, Governor Hope Uzodinma of Imo State praised Tinubu’s “decisive leadership” amid national uncertainties, stating that only a leader with “deep conviction and love for the country” could take the necessary but often difficult steps.
The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijjani, who spoke on behalf of cabinet members, recounted his appointment under the President despite prior activism.
He added that a senior World Bank official had recently described Tinubu as “the best reformist leader in Africa today.
”One of the President’s childhood friends, Professor Shaffideen Amuwo, recalled their early years, attributing Tinubu’s rise to divine providence.
Amuwo said, “Our relationship did not just start in Chicago; we played soccer together as children. While I chose the library, my brother chose politics because he loved to speak.
“Today, Allah has shown His greatness by guiding him to lead Nigeria.
“The city of Chicago, founded by a Black man, has educated the man who now leads the most populous Black nation on earth. I pray that Allah continues to hold his hand and guide him as he works to save our country.
”For his 73rd birthday, Tinubu thanked guests and supporters who have stood by him through periods of doubt and adversity, reaffirming his resolve to steer Nigeria toward stability and growth.
Saturday night’s event was attended by the First Lady, Senator Oluremi Tinubu; Vice President Kashim Shettima and his wife, Nana; members of the Federal Executive Council; principal officers of the National Assembly; current and former governors; diplomats; business leaders; religious figures; and several of the President’s childhood friends.
The Imam of the National Mosque, Abuja, Dr. Abdulkadir Sholagberu, led prayers seeking divine guidance for the President and the nation.
Crime
Lynched Edo travellers: Governors move against reprisals as 16 slain hunters buried

Tears flowed on Saturday in Uromi, Edo State, as the remains of the hunters who were lynched by a mob were interred.
Members of the Hausa community converged on the community cemetery to pay their last respects to the victims, who were burnt to death on Friday after being accused of being kidnappers.
It was earlier reported that the men were travelling in a Dangote Cement truck when they were intercepted around 1.30pm by local security guards.
After the guards searched the truck and found dane guns, they raised the alarm, which triggered the mob attack.
‘19 hunters buried’
A video of the funeral rites posted on X by a security analyst, Zagazola Makama, showed the moment the victims were buried.
The 1 minute 29 seconds clip captured members of the Hausa community in a solemn mood as the wrapped corpses were placed beside large graves.
The man filming the burial, who spoke in Hausa, said, “Assalamualaikum, this time we will pray for the bodies of our brothers who were killed for us—those who were massacred. May God bless them with mercy, forgive them, and accept their martyrdom for the sake of Prophet Muhammad (pbuh).
“Here is the Muslim community; they have gathered now and will be offering funeral prayers for our brothers who were killed. Now, we will offer the prayer for them.
”An imam subsequently began praying on the bodies, marking the commencement of the rites.
The man behind the filming said the death toll had increased to 19.
“Remember yesterday (Friday): the bodies of three people were brought to us, and we were able to pray for them. But now, 16 more corpses have also been brought, and we will pray for them. May God Almighty forgive them.
“Look at their graves here. Because there are so many of them, it is not possible to dig individual graves for each one. Instead, they will be buried together in one place,” he stated.
The security analyst, Makama, said a mother clutched to the grave’s edge as she lamented the killing of her son.
“My son was not a kidnapper! He was just in the wrong place at the wrong time!” she sobbed.
He also said a father held to the photograph of his slain son.
The Ojuromi of Uromi, Anselm Aidenojie II, who visited the Hausa community alongside Edo State Governor, Monday Okpebholo, during the burial, condemned the killings, noting that security agencies were taking measures to avert reprisals.
Aidenojie stressed that those responsible for the killings would be brought to justice.
“They (the victims) have been buried, and hopefully, this will never happen again in our community or anywhere else,” he added.
The Police Public Relations Officer, Moses Yamu, in a statement, had said 14 suspects were arrested in connection with the incident.
Northern governors move to stop reprisals
Meanwhile, it was gathered that northern governors had started making moves to strengthen peace and forstall reprisals in the region.
The Director-General (Press Affairs) to the NGF Chairman and Governor of Gombe State, Ismaila Misili, said, “Let me unequivocally state that there is no tension in the North over the unfortunate incident in Edo State.
“Recall that northern governors, through their Chairman and Governor of Gombe State, Muhammadu Inuwa Yahaya, had already issued a statement calling for calm and restraint.
“Individual governors in the North have also proactively engaged with relevant stakeholders to ensure peace, especially ahead of the Eid el-Fitr celebrations.
“Religious leaders also continue to promote peaceful coexistence and discourage any actions that might disrupt the harmony we have worked diligently to establish.
”Also, the Nasarawa State Government, while condemning the killings, called on security agencies to prosecute the perpetrators.
The Senior Special Assistant to Governor Abdullahi Sule on Public Affairs, Peter Ahemba, said security agencies had been placed on red alert to safeguard all 13 LGAs in the state.
He urged residents to remain calm and law-abiding, warning that anyone found disturbing the peace would be arrested.
“Governor Abdullahi Sule has said that no matter what, we must maintain peace in Nasarawa State. We have no room for such dastardly acts as seen in Edo.
“Security agencies have been placed on red alert to ensure that nothing untoward happens anywhere in the state regarding any reprisal attacks,” he said.
But the Borno State Government said it was still assessing the situation.
Speaking with newsmen, the Commissioner for Information and Internal Security, Usman Tar, said the state had yet to receive any directive from the Northern Governors’ Forum.
Meanwhile, the Borno State Police Command said it had stepped up security patrols for the Sallah celebration.
The command’s spokesperson, ASP Nahum Daso, said strategic police deployments had been made to maintain order.
“What we currently have on the ground is Sallah preparation. We have deployed personnel in strategic positions. We are also conducting a show of force, which involves patrolling to ensure visibility.
This will help prevent any incidents that could lead to unrest, particularly those with religious undertones,” Daso said.
Politician places bounty on suspects
On social media, there was palpable anger among the Arewa on Saturday as some individuals also took to X, sharing images of some of the suspected attackers and placing N1m bounty on them.
A Social Democratic Party member based in Abuja, Ibrahim Sanusi, was among those spearheading the movement.
While posting on his verified X handle, he wrote, “N1million reward for anyone who can identify these criminals and provide information leading to their arrest. If you have any information, please come forward. #JusticeForUromi16.”
As of the time of filing this report, over 1,500 tweeps had retweeted the post, while it had gathered 3,600 likes and 124 quotes.
However, the Coalition of Northern Groups and the Arewa Youths Consultative Forum condemned the resort to self-help, warning that it could escalate tension across the country.
The CNG National Coordinator, Jamilu Charanchi, acknowledged that while the killing of innocent hunters was reprehensible, law enforcement agencies must be allowed to handle the matter.
“All we demand is for the police to expedite investigations so that the real perpetrators can be identified and brought to justice. This will help reduce tensions in the North,” he stated.
Charanchi further argued that no individual or group had the right to place a bounty on anyone, stressing that the law must take its course.
Similarly, the AYCF President, Yerima Shettima, cautioned against any form of retaliation, stressing that justice must be pursued within the framework of the law.
Northerners petition Tinubu, IGP, othersMeanwhile, Sanusi and over 100 others have launched a petition on Change.org, addressed to President Bola Tinubu and the Inspector General of Police, Kayode Egbetokun; the National Security Adviser, Nuhu Ribadu, and Edo State Governor, Okpebholo.
As of 7pm on Saturday, no fewer than 273 people had signed the petition, demanding justice for the victims.
News
Dangote Feeds 40,000 Families in Borno

No fewer than 40,000 families may benefit from the Aliko Dangote Food Intervention Programme.
Borno State Governor Prof. Babagana Umara Zulum said the donation of 40,000 bags of 10kg rice to the people of Borno State by the Aliko Dangote Foundation(ADF) will help cushion economic hardship in these families.
The Governor made the statement at the flag-off of the Food Intervention Programme on Wednesday in Maiduguri, Borno State capital.
The Aliko Dangote Foundation penultimate week commenced the distribution of one million bags rice worth N16billion across the 774 local government areas in Nigeria.
The Governor was represented by the Director General of Borno State Emergency Management Agency(SEMA) Mr. Ali Abdullahi Isa.
He said: “Today marks a significant milestone in our collective efforts to alleviate the suffering of our people, particularly during the holy month of Ramadan.”
The Governor said the generous donation is a testament to the Foundation’s commitment to supporting vulnerable communities and promoting social welfare.
“We are deeply thankful to Alhaji Aliko Dangote and the entire foundation for their kindness and philanthropy.
”He urged the people of Borno State to continue to pray for peace, stability, and prosperity of the state and country.
In his early remarks, representative of the Aliko Dangote Foundation, Mr. Usman Muhammad, said the gesture is aimed at supporting government effort, adding that the Foundation focuses on improving the living conditions of Nigerians.
Mr. Muhammad said the donation is targeted at the poor and the vulnerable persons in the State.
A beneficiary, Ms Aisha Modu, 50, said as a displaced person, the donation of rice by the ADF will go a long way in alleviating her economic hardship.
In the same vein, another beneficiary, Umaru Aliyu, 60, said he will use the rice to feed his six children, while praying God to continue to bless the chairman of the Aliko Dangote Foundation.
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