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Land Banking in Lagos: What Is It and Why Smart Investors Are Doing It, by Dennis Isong

Who Is Land Banking For? What are the risks, and how can you avoid them?

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Some years ago, Mr. Adebayo, a civil servant in his late 40s, bought a large piece of land in the outskirts of Lagos—somewhere past Epe. His friends laughed.

The land had no road network, no visible development, and certainly no electricity poles in sight. “You’ve just bought bush,” one friend said, chuckling over a bottle of palm wine.

But Adebayo had something else in mind. Today, that same bush has turned into a budding estate. His plot—bought for N500,000 per acre—is now valued at over N15 million.

And the best part? He hasn’t built a single block on it. This, my friend, is the power of land banking inLagos.So, what is land banking—and why are smart investors flooding into it?

Let’s take a walk through of what makes this quiet, strategic game of land investment so powerful in Lagos real estate today.

1. What Is Land Banking?

Land banking is the act of buying undeveloped or underdeveloped land now—at a low price—with the intention of holding it for future sale or development.

The idea is simple: get the land while it’s cheap, wait for surrounding development or urban expansion, and then reap the benefits when its value skyrockets.It’s not a new concept.

Wealthy families, governments, and savvy investors have been doing it for decades, quietly amassing land in strategic locations.

But in Lagos, land banking has taken on a whole new meaning due to the city’s rapid urban sprawl and high demand for land.

As more people flood into Lagos for work and business, areas that were once considered “far” are now becoming the next hotspots for development.

And the best part? You don’t need to be a millionaire to start. What you need is foresight,patience, and good information.

2. Why Lagos? Why Now?

Lagos is a land-hungry city. It’s the smallest state in Nigeria by land size, but with the highest population—over 20 million people and counting.

Every day, people are moving in, businesses are expanding, and infrastructure is being built. But land? It’s not expanding.

This imbalance between supply and demand is what makes land such a valuable asset here.

Take Ibeju-Lekki for example. Ten years ago, it was mostly bush, sand, and silence. But today, it’s home to massive developments like the Dangote Refinery, Lekki Deep Sea Port, and the Lekki Free Trade Zone.

Investors who bought land here when it was “just sand” are now smiling to bank. The Lagos State Government is also pushing development into the outskirts. Projects like the proposed 4th Mainland Bridge and new road networks are opening up areas like Epe, Badagry,and Agbowa.

This means land in these regions won’t remain cheap for long. Smart investors are not waiting until buildings start springing up. They’re getting in early—buying into the future while the price tag is still friendly.

3. Who Is Land Banking For?

There’s a popular myth that land banking is only for the rich or big-time developers.

Not true.It’s actually a smart move for young professionals, retirees, low-risk investors, and anyonethinking long-term. Think of it like planting a tree—you don’t eat the fruit the next day, but whenit matures, it feeds you for life.

Some people buy shares. Others put money in fixed deposits. But land banking offers something more physical and arguably safer—an asset you can visit, touch, and eventually profit from.

Especially great for those who want to leave something for their children or retire in peace with a solid asset base.

Let’s not forget those who aren’t ready to build yet. If you’re not financially prepared toconstruct a house now, buying land and holding it gives you a head start.

By the time you’re ready to build, the land may have tripled in value—and you’d have saved yourself millions in future costs.

Smart investors understand that the best deals are usually quiet. While the world is running after flashy real estate brochures, they’re planting seeds in overlooked areas.

4. What Are the Risks—and How Can You Avoid Them?

Now, this wouldn’t be a realistic article without addressing the elephants in the room: landscams, Omonile wahala, and poor documentation. These are real risks in Lagos, and anyone who jumps into land banking blindly could lose hard-earned money.

The good news is, these risks are avoidable—if you do your due diligence. Always ensure the land is properly documented: look out for a Survey Plan, Deed of Assignment, and if possible, Certificate of Occupancy (C of O).

Work with trustworthy real estate companies or consultants who have verifiable track records and are registered with relevant authorities.

Also, don’t buy land just because it’s cheap. Buy because it’s strategic.

Ask yourself: Is there ongoing or planned development in the area? Are there accessible roads? Is the title clean? In the case of Mr. Adebayo, he didn’t just buy random land. He researched future government plans, asked questions from locals, and worked with a reputable realtor.

That’s why today, his land is not just appreciated—it’s prime.

5. So, Why Are Smart Investors Doing It?Because it works. Smart investors understand that the best deals are usually quiet. While the world is running after flashy real estate brochures, they’re planting seeds in overlooked areas.

They know that Lagos is expanding, and that time, development, and demand will eventually catch up with the land.

Some flip the land after a few years, making huge profits.

Others hold onto it and develop it into residential estates, short lets, or commercial spaces when the time is right. Either way, they win.

The beauty of land banking is that it doesn’t demand much. No tenants. No property management stress. No construction deadlines. Just patience—and strategy.

In Lagos today, the rush is not just about buying houses.

It’s about owning the land under the houses of tomorrow. Those who see the future are already positioning themselves quietly.

Final Thoughts Land Banking in Lagos: What Is It and Why Smart Investors Are Doing It is more than justa trendy topic—it’s a real, practical investment strategy that has changed lives.

It’s not without it’s risks, but it holds enormous potential for those who do it right.If you’ve been thinking about real estate but haven’t figured out how to start, land banking might just be your entry point.

It’s not glamorous at first. It doesn’t make noise. But in five or ten years,it could be the decision that secures your financial future.

So, whether you’re a young worker, a retiree, or just someone who’s tired of letting money sit in the bank, remember: Lagos may not be expanding in size, but the opportunities in its land keep growing.

And like Mr. Adebayo learned—today’s “bush” could be tomorrow’s goldmine.

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to OwnProperty In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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BREAKING: Tinubu swears in Amupitan as new INEC Chair

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President Bola Tinubu has officially sworn in Professor Joash Amupitan as the new Chairman of the Independent National Electoral Commission (INEC). The ceremony followed the Senate’s confirmation of Amupitan’s appointment last week after a rigorous screening session on October 16.

At the swearing-in, President Tinubu tasked Amupitan with safeguarding the integrity of Nigeria’s elections and strengthening INEC’s institutional capacity.

“As the chairman of INEC, your nomination and confirmation reflect the confidence reposed in you by both the executive and legislative arms of government. This marks the start of a challenging yet rewarding journey, and I trust you will approach your duties with integrity, dedication, and patriotism,” Tinubu said.

Highlighting Nigeria’s democratic progress over 25 years, the President emphasized the need for continuous innovation and reform to maintain free, fair, and credible elections. He urged Amupitan to ensure transparency and public trust throughout the entire electoral process—from voter registration and campaigning to voting and counting.

Amupitan, a professor of law and Senior Advocate of Nigeria (SAN), arrived at the State House on Thursday dressed in traditional white agbada and gold cap ahead of the formal ceremony. He was accompanied by presidential aides.

During his Senate screening, the 58-year-old nominee pledged to restore credibility to Nigeria’s electoral process by prioritizing reforms, including strengthening the Electoral Act to resolve inconsistencies in election timelines and enhance transparency.

“We must conduct elections where even the loser congratulates the winner fairly,” Amupitan told senators, emphasizing the need to rebuild voter confidence.

He also clarified his neutrality by denying any involvement in President Tinubu’s legal team during the 2023 Presidential Election Petitions Court, stating, “I never appeared before the Presidential Election Tribunal or the Supreme Court for any party.”

Amupitan succeeds Professor Mahmood Yakubu as the sixth substantive INEC chairman since the commission’s establishment. He is expected to immediately begin the transition process at INEC headquarters in Abuja following his swearing-in.

Profile

Born on April 25, 1967, the 58-year-old Amupitan hails from Ayetoro Gbede in Ijumu Local Government Area of Kogi State. He is a Professor of Law at the University of Jos, Plateau State. He is also an alumnus of the university.

He specialises in Company Law, Law of Evidence, Corporate Governance and Privatisation Law. He became a Senior Advocate of Nigeria in September 2014.

After completing primary and secondary education, he attended Kwara State Polytechnic, Ilorin, from 1982 to 1984, and the University of Jos from 1984 to 1987. He was called to the bar in 1988.

Amupitan earned an LLM at UNIJOS in 1993 and a PhD in 2007, amid an academic career that began in 1989, following his National Youth Service at the Bauchi State Publishing Corporation in Bauchi from 1988 to 1989.

He currently serves as the Deputy Vice-Chancellor (Administration) at the University of Jos, a position he holds in conjunction with being the Pro-Chancellor and Chairman of the Governing Council of Joseph Ayo Babalola University in Osun State.

Among the academic positions he has held at UNIJOS are: Chairman of the Committee of Deans and Directors (2012-2014); Dean of the Faculty of Law (2008-2014); and Head of Public Law (2006-2008).

Outside of academics, Amupitan serves as a board member of Integrated Dairies Limited in Vom, a member of the Nigerian Institute of Advanced Legal Studies Governing Council, and a member of the Council of Legal Education (2008-2014), among other roles. He was a board member of Riss Oil Limited, Abuja(1996-2004).

Amupitan is the author of many books on law, such as Corporate Governance: Models and Principles(2008); Documentary Evidence in Nigeria (2008); Evidence Law: Theory and Practice in Nigeria(2013), Principles of Company Law(2013)  and an Introduction to the Law of Trust in Nigeria (2014).

He is married and has four children.

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Dangote denies owning truck that killed eight in Ondo accident

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Dangote Group has denied owning the truck that crushed a pregnant woman, a child, and six others to death in an accident in Akungba-Akoko, Akoko South-West Local Government Area of Ondo State.

The company issued the clarification in a statement on its X account on Wednesday.

The statement followed reports that a cement-laden truck suffered brake failure and rammed into traders and other road users.

Reacting, Dangote Group said the truck involved in the tragic incident does not belong to the group or any of its subsidiaries.

It added that vehicle registration records confirm the truck is owned and operated by an independent logistics company with no affiliation to Dangote Group.

“Dangote Group has refuted reports circulating on social media and in some online platforms linking it to a truck involved in a road accident in Akungba-Akoko, Akoko South-West Local Government Area of Ondo State.

“The company wishes to make it categorically clear that the truck involved in the unfortunate incident does not belong to Dangote Group or any of its subsidiaries.

“Verified vehicle registration details confirm that the truck with Plate No. JJJ 365 XB is owned and operated by an independent logistics company with no affiliation to Dangote Group,” the statement reads.

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VIDEO: Sowore Arrested at Federal High Court Premises, Abuja, After Meeting Nnamdi Kanu.

“The commissioner of police said we should bring you to the office,” the policeman said.

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Police operatives have arrested former presidential candidate and human rights activist, Omoyele Sowore, in Abuja, the nation’s capital.

Sowore was forcibly taken away by armed police officers from the Federal High Court premises in Abuja on Thursday, October 23, 2025, shortly after attending the court session of detained IPOB leader Nnamdi Kanu.

Sowore, who has been leading campaigns for Kanu’s release, was confronted by security operatives who insisted he accompany them to the Federal Capital Territory (FCT) Police Command.

Eyewitnesses disclosed that the officers surrounded him moments after he exited the courtroom, refusing to disclose specific details about his alleged offence.

When questioned by onlookers, one of the policemen stated that they were acting on the directive of the FCT Commissioner of Police.

“The commissioner of police said we should bring you to the office,” the policeman said.

As of the time of filing this report, the reason for Sowore’s arrest and his current whereabouts remain unclear.

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Credit: Punch

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