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Buying Land in Lagos: Legal Considerations Every Investor Must Know by Dennis Isong

Additionally, visit the site yourself. Don’t rely on Google Maps or the seller’s description. Go there, walk the land, and make sure it matches what you’ve been told.

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Lagos is the city of dreams, hustle, and endless opportunities.

It’s a place where fortunes are made, where the skyline is constantly changing, and where the promise of a better future lures thousands of people every day.

But beneath the glitz and glamour of Nigeria’s commercial capital lies a complex, often treacherous landscape—especially when it comes to buying land.

If you’ve ever dreamed of owning a piece of Lagos, whether to build your dream home, start a business, or simply as an investment, you need to tread carefully.

The stories of heartbreak, betrayal, and financial ruin are as common as the tales of success. Let me tell you, buying land in Lagos is not for the faint-hearted. But with the right knowledge, you can avoid the pitfalls and make a smart, secure investment.  

You’ve worked hard, saved diligently, and finally have enough to buy a plot of land in Lagos.

You envision building a home where your family will thrive or developing a property that will generate passive income for years to come. You’ve seen the ads—prime locations, affordable prices, and promises of quick returns.

It all sounds perfect, doesn’t it? But here’s the harsh reality: not all that glitters is gold. Lagos is notorious for land disputes, fraudulent sellers, and bureaucratic nightmares.

I’ve heard too many stories of people who paid for land only to discover that it belonged to someone else, or worse, that it was part of a government acquisition.  

Take the story of Ada, a single mother who saved for years to buy a plot of land in Lekki.

She was thrilled when she found what seemed like the perfect deal. The seller was charming, the paperwork looked legit, and the price was within her budget.

She paid in full, only to find out months later that the land was under dispute between two families. She spent years in court, draining her savings and losing sleep over what was supposed to be her golden ticket to financial security.

Ada’s story is not unique. It’s a cautionary tale that underscores the importance of doing your due diligence before buying land in Lagos.

What You Need to Know

Buying land in Lagos is not as simple as handing over cash and getting a receipt. There are legal considerations that every investor must be aware of. Ignoring these can lead to costly mistakes.

Here are the key legal aspects you need to consider:   1. Verify the Title Documents  

The first step in any land transaction is to verify the title documents.

In Lagos, the most secure form of land ownership is a Certificate of Occupancy (C of O) issued by the state government.

This document proves that the government has allocated the land to the owner and grants them the right to use it. However, not all lands have a C of O. Some may have a Governor’s Consent, Deed of Assignment, or other forms of documentation.  

The important thing is to ensure that the documents are genuine and that the seller has the legal right to sell the land. This is where many people get into trouble.

They assume that because the seller has a piece of paper, everything is fine. But in Lagos, fake documents are rampant. Always engage a lawyer to conduct a thorough search at the Land Registry to confirm the authenticity of the documents and ensure there are no encumbrances on the land.  

2. Check for Government Acquisition   One of the biggest risks when buying land in Lagos is purchasing a property that has been acquired by the government for public use.

This is more common than you might think, especially in areas like Lekki, Ibeju-Lekki, and Epe, where large-scale infrastructure projects are underway. If the land is under government acquisition, you could lose it without compensation, no matter how much you’ve paid.  

To avoid this, your lawyer should conduct a search at the Ministry of Physical Planning and Urban Development to confirm whether the land is free from government acquisition.

This step is non-negotiable. Don’t let anyone convince you to skip it, no matter how trustworthy they seem.  

3. Survey and Land Verification  

Before you buy any land, you need to know exactly what you’re buying. This means conducting a survey to confirm the size, location, and boundaries of the property. A survey plan prepared by a licensed surveyor will give you a clear picture of the land and help you avoid disputes with neighbors or other claimants.  

Additionally, visit the site yourself. Don’t rely on Google Maps or the seller’s description. Go there, walk the land, and make sure it matches what you’ve been told.

I’ve heard stories of people who bought land only to discover that it was in the middle of a swamp or already occupied by squatters. Don’t let that be you.

  4. Engage a Competent Lawyer

  I cannot stress this enough: do not try to navigate the land-buying process on your own. The legal complexities are too great, and the risks are too high.

A competent lawyer will guide you through the process, conduct the necessary searches, and ensure that all the paperwork is in order. They will also help you draft a solid contract that protects your interests.  

Yes, legal fees can be expensive, but they are a small price to pay for peace of mind. Think of it as an insurance policy against fraud and future disputes. As the saying goes, “If you think hiring a professional is expensive, try hiring an amateur.”  

5. Beware of Omo-Onile (Landowners)  

In Lagos, the term “Omo-Onile” refers to the original landowners or their descendants. These individuals often demand fees from buyers, claiming it’s their right as the original owners of the land. While some of these claims may be legitimate, many are not. Some Omo-Onile are notorious for extorting money from buyers and causing trouble during construction.  

To avoid this, make sure you understand the history of the land and any agreements the seller has with the Omo-Onile. Your lawyer can help you navigate this delicate issue and ensure that all necessary payments have been made.  

The Emotional Toll of Land Disputes

Buying land is not just a financial transaction; it’s an emotional journey.

For many people, it represents hope, stability, and a brighter future.

When things go wrong, the emotional toll can be devastating. Imagine the frustration of watching your dream property slip through your fingers because of a legal technicality.

Or the heartbreak of realizing that the land you’ve invested in is embroiled in a dispute that could take years to resolve.  

I’ve seen families torn apart by land disputes, friendships ruined, and lives upended. It’s not just about the money; it’s about the dreams that are shattered along the way.

That’s why it’s so important to get it right from the start. Don’t let impatience or excitement cloud your judgment. Take the time to do things properly, and you’ll save yourself a world of pain.

The Rewards of a Smart Investment Despite the challenges, buying land in Lagos can be one of the best investments you’ll ever make. The city is growing at an unprecedented rate, and land values are skyrocketing.

If you do your due diligence and follow the legal process, you could secure a valuable asset that will be appreciated over time.   I know people who bought land in Lekki 10 years ago for a fraction of what it’s worth today.

They’ve built homes, started businesses, and created a legacy for their families. With the right approach, you can do the same. But remember, success in real estate is not just about buying land; it’s about buying the *right* land.  

Buying land in Lagos is a journey filled with both opportunities and risks. It’s a test of your patience, diligence, and resilience. But with the right knowledge and guidance, you can navigate the complexities and come out on top.

Don’t let the horror stories scare you away. Instead, let them inspire you to be smarter, more cautious, and more determined.  

Your dream of owning a piece of Lagos is within reach. Take the time to do it right, and you’ll be rewarded with an investment that will stand the test of time.

Remember, the city may be tough, but so are you. And with the right legal considerations in place, you can turn your dream into a reality.  

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.

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FG borrows N13.21trn from World Bank in 20 months

The country’s debt profile has hit N142 trillion, according to data published by the Debt Management Office (DMO).

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The World Bank has approved over N13.21 trillion ($8billion) as loans for different developmental projects for President Bola Ahmed Tinubu-led federal government in the last 20 months,

Daily Trust analyses of the various loans indicated that they were targeted at several interventions in various sectors of the economy with three fresh loans amounting to $1.1 billion approved between Friday and yesterday.

The country’s debt profile has hit N142 trillion, according to data published by the Debt Management Office (DMO).

The 2025 budget of N54.99tn has a debt service component of N14.32tn and N13.64tn for recurrent expenditure.

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Women make up 15% of 288 new billionaires in 2025

One of the most striking trends among the newcomers is the high percentage of self-made billionaires.

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The newcomers come from 33 countries and territories, marking a significant rise from the 265 additions made in 2024.

Forbes’ 2025 World’s Billionaires list has welcomed a record 288 new billionaires, pushing the total number of billionaires to 3,028 globally.

This group, which includes entrepreneurs, investors, and heirs, is collectively valued at nearly $680 billion, averaging $2.4 billion per person.

The newcomers come from 33 countries and territories, marking a significant rise from the 265 additions made in 2024.

The United States remains the dominant force, contributing the most new billionaires with 103 additions this year.

Among the top names is Marilyn Simons, widow of quantitative hedge fund founder Jim Simons, whose net worth is estimated at $31 billion.

She stands alongside Lyndal Stephens Greth, the daughter of oil magnate Autry Stephens, who holds $25.8 billion following her father’s passing in 2024.Germany ranks second in terms of new entries, with 37 individuals joining the list, including Johannes von Baumbach. At 19 years old, he becomes the youngest new billionaire globally, with a fortune of $5.4 billion.

Along with von Baumbach, 14 other heirs to the Boehringer Ingelheim pharmaceutical empire also made their debut on the list.China and Hong Kong together contributed 32 new billionaires, with jeweller Xu Gaoming being one of the notable additions, valued at $8.2 billion. India saw 17 new billionaires, while Russia accounted for 15.

One of the most striking trends among the newcomers is the high percentage of self-made billionaires.

Of the 288 newcomers, 196 (approximately 70%) built their wealth from the ground up, rather than inheriting it.

The wealthiest self-made newcomer is Saudi Arabian entrepreneur Sulaiman Al Habib, whose fortune stands at $10.9 billion. Al Habib’s success is a notable achievement as Saudi Arabia has seen a resurgence of billionaires on the list for the first time since 2017.

Alexandr Wang, the 28-year-old co-founder and CEO of Scale AI, is the youngest self-made billionaire this year, valued at $2 billion.

(BusinessDay)

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House Public Accounts Committee Recovers Additional $14 Million from Oil Companies

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The House of Representatives Public Accounts Committee (PAC) said on Saturday that it has successfully recovered an additional $14.2 million (N21.4 billion) from four oil and gas companies as part of its ongoing investigation into financial discrepancies in the sector.

This latest recovery follows an earlier announcement on March 16, 2025, of recoveries amounting to ₦28.7 billion ($19.24 million), bringing the total recovered so far to $33.44 million (₦50.1 billion).

In a statement by Akin Rotimi Jr, House Spokesperson, the breakdown of the latest recoveries is as follows:
✓ Platform Petroleum Ltd: $1.9 million (N2.9 billion)
✓Midwestern Oil and Gas Ltd: $1.578 million (N2.3 billion)
✓Universal Energy: $523,845 (N785.7 million)
✓Aradel Energy Ltd: $10.3 million (N15.5 billion)

Speaking on the recoveries, the Chairman of the Committee, Rep. Bamidele Salam, credited the successes recorded to the unwavering support and leadership of the Speaker of the House, Rt. Hon. Abbas Tajudeen, PhD., GCON.

He noted that the Speaker’s firm commitment to legislative oversight and accountability has ensured that committees operate effectively, free from undue interference, and with a clear mandate to safeguard public resources.

“Under the leadership of Speaker Abbas, the House of Representatives has reinforced its commitment to fiscal transparency and good governance.

The independence granted to committees like ours has enabled us to carry out our mandate diligently, ensuring that public funds are properly accounted for.

This approach has been instrumental in our ability to recover these substantial sums, and we remain steadfast in our mission to strengthen financial accountability in Nigeria,” Rep. Salam stated.

In addition to the recovered funds, the Committee has issued a 20-day ultimatum for four companies to remit a total of $23.2 million (N34.8 billion).

Failure to comply within the stipulated timeframe will result in the enforcement of appropriate sanctions, including the public naming of defaulters in national newspapers.

The companies and their required payments are as follows:

  • Total Energies: $2 million within 7 days
  • Seplat Energies (SPDC): $6.036 million and N1.5 billion within 7 days
  • Aradel Energy Ltd: $12.1 million within 7 days
  • Network Exploration: $3.1 million within 7 days
    Rep. Salam emphasised the Committee’s commitment to enforcing compliance, warning that companies that fail to meet their financial obligations will face the full weight of legislative oversight.
  • The Committee also expressed concern over several companies that have disregarded invitations to appear before it.
  • The following firms are now under heightened scrutiny and may face further actions if they continue to evade accountability:
  • Frontier Oil and Gas
  • Conoil Producing
  • Walter Smith Petrochemical
  • Bilton
  • Energia Ltd
  • Aiteo Petroleum Ltd
  • Pillar Oil Lt
  • Additionally, First E & P Oil Company has been directed to reconcile an outstanding balance of $90 million with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and is expected to appear before the Committee on April 16, 2025, to finalise the matter.
  • The actions of the Public Accounts Committee reflect the House of Representatives’ increasing resolve to ensure transparency, accountability, and financial discipline in the Nigerian oil and gas sector.
  • Ongoing investigations are expected to uncover more discrepancies, with the Committee continuing its public hearings on the 2021 Auditor General’s report, which indicated that over ₦10 trillion in payments remain outstanding to the Federation Account from industry operators.
  • “The era of impunity and financial recklessness in the oil and gas sector is coming to an end.
  • We are determined to recover every kobo owed to the Nigerian people and ensure that public funds are managed with the highest level of integrity,” Rep. Salam reaffirmed.
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