Business
Avoiding Legal Problems: The Importance of Due Diligence Before Buying Property in Nigeria by Dennis Isong
Skipping due diligence before buying property in Nigeria can lead to devastating legal problems.

Consider Tunde’s story. Tunde, a hopeful investor, trusted in promises and skipped due diligence.
He ended up with land under government acquisition, facing the bitter consequences of a hasty decision.
His story echoes through the real estate market, serving as a cautionary tale to those who believe shortcuts are harmless.
As a realtor with years of experience, I’ve seen many lessons in real estate, and Tunde’s story is one of them.
In September 2020, Tunde reached out to me after reading one of my articles.
He was thrilled about buying land in Folu Ise village, Ibeju-Lekki, because it was very cheap—just around N300,000.
I advised him to verify the land’s documents to ensure it wasn’t under government acquisition.
However, because the real estate company behind the deal was popular,
Tunde chose to trust them and rushed into the purchase.
Later, Tunde found out the land was under government acquisition and couldn’t be used.
He lost a significant amount of money and learned a painful lesson.
Unfortunately, this wasn’t an isolated case—many investors who bought land in that location around that time have faced similar losses.
This is why working with an experienced and thorough realtor is crucial. I ensure my clients avoid these pitfalls and make secure, informed investments.
Whether you’re a first-time buyer or a seasoned investor, taking the time to verify, investigate, and confirm every aspect of a property before purchasing is a prudent decision that can save you from heartache and financial ruin.
It’s a humid afternoon in Lagos, and you’re sitting across from a beaming seller at a bustling cafe.
He’s selling you a dream—a piece of land in a prime location, promising high returns and a secure future.
The deal seems too good to pass up. Excited by the possibilities, you shake hands, exchange money, and leave with a sense of accomplishment. But what happens next?
Months down the line, reality hits hard. You receive a letter from a government agency claiming ownership of the land.
The seller has disappeared, and your dreams of building a home or starting a business are shattered.
The money you invested seems irretrievable, and legal battles loom ominously on the horizon.
The regret sinks in—why didn’t you verify everything before signing the dotted line?
Skipping due diligence before buying property in Nigeria can lead to devastating legal problems.
It’s not just about securing a good deal; it’s about protecting your investment, your future, and your peace of mind.
The Heartbreak of Legal Issues Imagine the emotional turmoil of realizing that the property you thought was yours is entangled in legal disputes.
The stress of navigating complex legal systems, the financial burden of legal fees, and the uncertainty of the outcome can weigh heavily on anyone.
It’s a scenario that no one wants to experience, yet many unwitting buyers find themselves in precisely this predicament.
Why Due Diligence Matters
Due diligence isn’t just a formality—it’s your shield against potential disasters.
Here’s why taking the time to investigate before buying property in Nigeria is crucial:
1. Verifying Ownership and Title The first step in due diligence is confirming that the seller has legal ownership of the property and can transfer that ownership to you.
In Nigeria, where land ownership can be contentious and documentation irregular, verifying the title is non-negotiable.
Without this step, you risk buying property that someone else may claim as theirs, leading to legal battles that could tie up your investment indefinitely.
2. Uncovering Hidden Liabilities Properties can come with hidden liabilities such as unpaid taxes, mortgages, or pending litigation. Without due diligence, you might inherit these financial burdens along with the property. Imagine buying what seems like a lucrative plot of land, only to discover hefty tax bills or unresolved disputes that threaten your financial stability.
3. Ensuring Compliance with Regulations Local regulations, zoning laws, environmental restrictions—these are just some of the regulatory aspects that can affect your property’s use and value.
Ignoring these factors can result in penalties, restrictions on developmand ent, or even demolition orders. Due diligence ensures that the property you intend to buy aligns with your plans and complies with all legal requirements.
4. Assessing Market Value A property’s market value isn’t always what it seems. Sellers may inflate prices, especially in high-demand areas or emerging markets.
By conducting due diligence, including market analysis and comparative valuations, you can negotiate from a position of knowledge.
Knowing the true value protects you from overpaying and ensures that your investment is financially sound.
5. Protecting Your Peace of Mind Investing in real estate should be exciting, not anxiety-inducing.
Proper due diligence provides peace of mind, knowing that you’ve done everything possible to safeguard your investment.
It’s about making informed decisions rather than taking blind risks, ensuring that your property purchase is a step towards your goals, not a leap into uncertainty.
Conclusion
In the fast-paced world of real estate investment in Nigeria, due diligence isn’t just advisable—it’s essential.
It’s the difference between a successful transaction and a costly mistake.
Whether you’re a first-time buyer or a seasoned investor, taking the time to verify, investigate, and confirm every aspect of a property before purchasing is a prudent decision that can save you from heartache and financial ruin.
So, before you sign that contract or transfer that payment, ask yourself: Have I done my due diligence?
The answer could make all the difference in your real estate journey.
Written by Dennis Isong, your trusted advisor in Nigeria’s real estate market.
Let’s ensure your next investment is a smart and secure one.
STOP LOSING MONEY IN LAGOS REAL ESTATE! Learn How to Protect Your Investment Today. => LandProperty.ng/free
Your future deserves the assurance of due diligence.
Business
Nigeria’s inflation drops massively to 24.48% after CPI rebase

Nigeria’s inflation rate dropped massively to 24.48 percent in January 2024 from 34.80 percent in December last year after the rebased Consumer Price Index.
The Statistician General, Prince Adeyemi Adeniran, disclosed this on Tuesday in Abuja at the launch of the rebased CPI report.
Nigeria’s inflation rose to 34.80 percent in January 2025 compared to 34.80 percent recorded in December last year.
The National Bureau of Statistics disclosed its rebased Consumer Price Index for January released on Monday.
He said the Consumer Price Index (CPI) – which measures the rate of change in prices of goods and commodities – has declined to 24.48 per cent year on year in January.
Adeniran explained that urban inflation stood at 26.09 percent while rural inflation came to 22.15 percent.
Accordingly, the report, food inflation declined to 26.08 percent in January, from 39.84 percent in December 2024.
In a statement on the X account, NBS said, “The National Bureau of Statistics has released the rebased Consumer Price Index (CPI), reflecting an updated price reference period (base year) of 2024 and a weight reference period of 2023.
“Nigeria’s inflation rate for January 2024 stood at 24.48 percent year on year.
“The food inflation rate stood at 26.08 percent; the core inflation rate stood at 22.59 percent; the urban inflation rate stood at 26.09 percent; and the rural inflation rate stood at 22.15 percent “.
This comes as the Central Bank of Nigeria Monetary Policy Committee would hold its first meeting in 2025 on February 19 and 20, 2025.
In November 2024, MPC raised interest to 27.50 percent to bring down inflation.
Business
Johnvents Secures $40.5mn from BII to expand
Benson Adenuga, head of British International Investment’s (BII) office in Nigeria, said the institution was providing long-term funding for the firm’s plant in Ondo state.

Johnvents, a Nigerian agribusiness and manufacturing firm, has gained $40.5 million from the UK’s development finance institution to more than double its cocoa processing capacity to 30,000 metric tons annually.
Cocoa is among the biggest non-oil exports in Nigeria and largely grown by small-scale farmers in the south of the country.
Benson Adenuga, head of British International Investment’s (BII) office in Nigeria, said the institution was providing long-term funding for the firm’s plant in Ondo state.
” We’re actually providing funding for them to acquire machines and refurbish and expand their factory,” Adenuga told Reuters. Johnvents exports processed cocoa butter and powder, including to Europe.
Adenuga said BII would also help the firm to have 90% of its cocoa certified under the Rainforest Alliance sustainability and traceability programme by 2027.
Business
CBN Shores up foreign reserves to $40bn., why it’s Important
He made the disclosure on the sideline of the just-concluded inaugural Conference on Emerging Markets Economies organised by the Ministry of Finance, Saudi Arabia, and the International Monetary Fund (IMF) Regional Office in Riyadh.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, says that the country’s foreign reserves had exceeded $40 billion .
Foreign reserves play a vital role in maintaining economic stability, supporting monetary policy, and ensuring a country’s ability to participate in international trade and finance.
Governor Cardoso attributes the growth in the foreign reserves to the adoption of an electronic matching system to improve transparency in the market and the introduction of a foreign exchange code of ethics, which all Nigerian banks signed to ensure adherence to market rules.
He made the disclosure on the sideline of the just-concluded inaugural Conference on Emerging Markets Economies organised by the Ministry of Finance, Saudi Arabia, and the International Monetary Fund (IMF) Regional Office in Riyadh.
Cardoso acknowledged that Nigeria had faced significant economic challenges, including capital flow exits, multiple exchange rate regimes, currency depreciation, high inflation, and a backlog of foreign exchange transactions, which led to a loss of confidence in the country’s currency.
The CBN Governor cited reforms in the financial markets that addressed distortions in the Nigerian foreign exchange market, which had previously experienced a gap of up to 60% between the official and parallel market exchange rates.
He noted that due to consistent policy direction, improved market confidence, and enhanced transparency in forex trading, the gap has significantly narrowed to approximately 4-5%.
Importance of Foreign Reserves
Foreign reserves, also known as foreign exchange reserves, are a crucial component of a country’s economic stability and financial security.
Here are the key importance of foreign reserves:
1. Maintains Exchange Rate StabilityForeign reserves help maintain a stable exchange rate by providing a buffer against fluctuations in the foreign exchange market.
2. Ensures Import PaymentsForeign reserves enable a country to pay for imports, ensuring a steady supply of essential goods and services.
3. Supports Monetary PolicyCentral banks use foreign reserves to implement monetary policy, such as managing interest rates and regulating money supply.
4. Enhances CreditworthinessAdequate foreign reserves can improve a country’s creditworthiness, making it easier to borrow from international lenders.
5. Provides LiquidityForeign reserves serve as a liquidity buffer, allowing a country to meet its short-term foreign exchange obligations.
6. Supports Economic GrowthForeign reserves can be used to support economic growth by providing financing for development projects and investments.
7. Reduces Vulnerability to External ShocksAdequate foreign reserves can reduce a country’s vulnerability to external shocks, such as global economic downturns or trade wars.
8. Facilitates International TradeForeign reserves enable countries to participate in international trade by providing the necessary foreign exchange to settle trade transactions.
9. Supports National SecurityIn some cases, foreign reserves can be used to support national security by providing financing for defense-related expenditures.
10. Enhances Investor ConfidenceAdequate foreign reserves can enhance investor confidence, attracting foreign investment and promoting economic growth.
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