Connect with us

Business

Real Estate Due Diligence: What Every Buyer Must Check Before Paying in Lagos State by Dennis Isong

Avoid lands tagged as “committed”—this means the government has already planned something for that area.

Published

on

53 Views

Mr. Samuel had finally saved enough to buy his dream plot in Lagos. He was tired of renting and wanted a piece of land to call his own.

One day, he came across a well-dressed agent who promised him a juicy deal—a prime piece of land in Ibeju-Lekki at an unbelievably low price.

The agent assured him that everything was “clean.” No Omo Onile drama, no government wahala. Mr. Samuel was excited.

He visited the land once, saw a few other buyers inspecting, and felt reassured. Without conducting any serious checks, he quickly made payment.

The agent even arranged for a “lawyer” to draft a deed of assignment. Everything seemed perfect.

Two months later, Mr. Samuel decided to start building. That was when the nightmare began. A group of fierce-looking men stormed the site, shouting that the land belonged to their family.

They claimed they never sold it to anyone. Confused and scared, Mr. Samuel tried calling the agent—his number was switched off.

The “lawyer” who drafted his deed had disappeared too. He went to the Lagos State Land Registry, only to discover that the land was government-acquired. Mr. Samuel had lost everything.

His hard-earned savings, his dreams, and his peace of mind. This could have been avoided if only he had done proper due diligence before paying.

What is Due Diligence in Real Estate?

Due diligence means verifying everything about a property before committing to buy it. It’s like running a background check to make sure you are not about to throw your money into a trap.

Lagos is notorious for real estate fraud—Omo Onile disputes, fake land documents, and government-acquired properties being resold illegally. One wrong move and you could lose millions.

So, before you pay a kobo, here are the critical things you must check:

1. Confirm Ownership: Who Really Owns the Land?

Never assume the person selling the land is the real owner. People sell land they don’t own every day in Lagos. Some are tenants or relatives of the real owner, while others are pure scammers.

What to Do:

●      Ask for the title documents (C of O, Deed of Assignment, Governor’s Consent, or Survey Plan).

●      Go to the Lagos State Land Registry (Alausa) to verify the document. If the land is not registered, don’t buy it.

●      If it’s family land, ensure all family members involved sign the documents to avoid future disputes.

2. Verify Land Title and Documents

Even if the seller shows you a C of O, don’t trust it blindly. Fake C of Os and land documents flood the market. Some lands also have government restrictions, meaning they can be demolished anytime.

What to Do:

●      Conduct a search at the Lagos State Lands Bureau to verify if the title is genuine.

●      Cross-check survey plans at the Office of the Surveyor-General to confirm the land’s coordinates and whether it falls under government acquisition.

●      Engage a trusted real estate lawyer to help you review the documents.

3. Check for Government Acquisition Issues Lagos State is aggressive when it comes to land acquisition. Some lands are meant for future government projects but are still being illegally sold to unsuspecting buyers.

What to Do: ●      Visit the Lagos State Ministry of Physical Planning and Urban Development to check if the land is under acquisition.

●      Avoid lands tagged as “committed”—this means the government has already planned something for that area.

4. Conduct a Physical Inspection—Don’t Rely on Photos Many buyers have fallen victim to real estate scams because they paid for land they never saw. Some agents take buyers to a different land, collect money, and disappear.

What to Do:

●      Visit the land multiple times—morning, afternoon, and evening. ●      Talk to neighbors and ask questions about the land’s history.

●      Check for any signs of disputes (e.g., different people laying claims to the land).

5. Avoid Verbal Agreements—Everything Must Be in Writing Many people have lost money because they trusted verbal agreements. Some sellers will promise you land and later deny ever meeting you.

What to Do:

●      Ensure you have a proper sales agreement signed by both parties.

●      The agreement should be prepared by a trusted lawyer, not the seller’s lawyer (to avoid conflict of interest).

●      Every payment must be documented, and receipts issued.

6. Investigate the Seller or Real Estate Company Some real estate companies in Lagos operate like Ponzi schemes.

They sell lands that don’t belong to them, promising fake allocations.

Before you pay, verify! Before you sign, investigate! Before you trust, confirm! And if you need expert guidance, reach out to a trusted real estate professional (like me) who can help you avoid the pitfalls.

What to Do:

●      Research the company’s history and reviews from past buyers.

●      Confirm their RC number and check if they are registered with CAC.

●      Visit their physical office and ask tough questions. 7. Beware of Omo Onile Wahala Omo Onile (land grabbers) can frustrate landowners with illegal fees and disturbances.

They can show up after purchase, demanding extra money or threatening to seize the land.

What to Do:

●      Buy land in secured estates to avoid Omo Onile drama.

●      If buying directly from a family, ensure ALL family members agree to the sale.

●      Have a lawyer draft an indemnity clause in your agreement to protect you from future Omo Onile claims.

8. Know the Land Use Purpose

Not all lands are meant for residential buildings. Some are strictly for commercial, agricultural, or industrial use.

What to Do:

●      Check the zoning regulations at the Lagos State Ministry of Physical Planning.

●      If you’re buying for business, ensure you won’t run into legal troubles later.

Don’t Let Greed and Urgency Lead You Into a Trap Many people fall victim to real estate scams because they are in a rush or want “cheap land.”

Lagos is a tough market—if a deal looks too good to be true, it probably is.

Remember Mr. Ade’s story? Don’t let it happen to you. No matter how urgent the deal seems, take your time to verify everything.

Due diligence is not a waste of time; it’s the only thing standing between you and financial disaster.

Before you pay, verify! Before you sign, investigate! Before you trust, confirm! And if you need expert guidance, reach out to a trusted real estate professional (like me) who can help you avoid the pitfalls.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Taiwan Seeks Better Ties with Nigeria, following Tinubu’s St. Lucia Visit

We, the people and Government of Taiwan, wholeheartedly congratulate H. E. President Tinubu for his visions and concrete actions of extending Nigeria’s connection with the Caribbean Island state, just like Taiwan has made diplomatically with St. Lucia.

Published

on

By

35 Views

•Andy Yih-Ping Liu

TAIWAN’S Representative/ Head of Mission in Nigeria Andy Yih-Ping Liu has congratulated Nigeria’s fresh diplomatic engagements with St. Lucia and the Caribbean States.

Liu, in a statement yesterday, asserted that President Bola Ahmed Tinubu’s most successful state visit to the Caribbean nation of Saint Lucia was truly a landmark achievement in Nigeria’s diplomacy.

The statement reads: “We, the people and Government of Taiwan, wholeheartedly congratulate H. E. President Tinubu for his visions and concrete actions of extending Nigeria’s connection with the Caribbean Island state, just like Taiwan has made diplomatically with St. Lucia.

“Taiwan (ROC) and St. Lucia, as well as three other Caribbean island nations, St. Kitts and Nevis, St. Vincent and the Grenadines, and Haiti, have long established diplomatic relations with full-fledged embassies setting in each other’s capitals.

“Our diplomatic presence of embassies, together with Development and Technical Aid of medical, agricultural, women and youth empowering, trade and investment strengthening, sustainable development, etc., have truly assisted St. Lucia as well as other Caribbean nations to grow well economically and socially.”

Liu noted that during President Tinubu’s visit, he would have toured some facilities jointly developed by the Taiwanese government and St. Lucian authorities.

“We’re proud to offer our helping hands that produce fruitful results, and we certainly welcome wholeheartedly that Nigeria will also be joining this humanitarian and economic collaborations in the Caribbean area.

“We are extremely delighted to witness President Tinubu graciously receiving the conferment of Knight Commander of the Order of Saint Lucia (K.C.O.S.L.) in recognition of his efforts to strengthen ties between Africa and the Caribbean.

This has showcased His Excellency’s visionary exploration and escalation of Nigeria’s ever-growing international status, and his grand movements in deepening the collaboration with the Organisation of Eastern Caribbean States (OECS).

“Prime Minister Philip Pierre, that H. E. President Tinubu has met in St. Lucia, visited Taiwan to attend President Ching-Te Lai’s inauguration ceremony on May 20th, 2024.

Also, St. Lucia’s Senate President Madam Alvina Reynolds, that President Tinubu has also met, visited Taiwan to attend our National Day Celebrations on October 10th, 2024.

All these have demonstrated how cordially the diplomatic relations between Taiwan and St. Lucia have been, and our bilateral cooperation have truly showcased Taiwan is such an indispensible and healthy partner for St. Lucia, as well as other Caribbean nations.

“Taiwan (ROC) has survived the heavy pressure from across the Taiwan Strait, and flourished outstandingly in the world, both democratically and economically on nation building.

“We the Taiwanese people are privileged to share our advanced know-how and technology to any country globally, so that we can work together in weathering through all sorts of challenges.

It is therefore, once again, we would like to congratulate dearly for President Tinubu’s diplomatic achievements in his landmark State Visit to St. Lucia, and also sincerely express our goodwill for any future strengthening of Nigeria-Taiwan relations, either in this great nation of Nigeria or in our shared diplomatic allies of St Lucia and the Caribbean states.

“Taiwan remains humble and ready to share its vast knowledge with Nigeria in various fields of comparative advantages, and we would appreciate deeply that His Excellency President Tinubu and Nigeria to view and regard Taiwan as a most advanced and developed, healthy partner, to build substantial relations, like what we have contributed and collaborated in Saint Lucia,” he said.

Continue Reading

Business

Dangote sets to power his vast industrial empire with biggest seaport in Olokola, Ogun State

This project will require the construction of pipelines from the Niger Delta, according to Devakumar Edwin, vice president of the Dangote Group

Published

on

By

62 Views

Africa’s richest man, Aliko Dangote, is moving ahead with plans to build a major seaport near his fertilizer and oil refinery plants, a move aimed at easing exports and powering the continued expansion of his vast industrial empire.

Bloomberg reports that Dangote confirmed that his group submitted paperwork in late June to begin work on what he described as “the biggest, deepest port in Nigeria.”

The proposed Atlantic seaport will be located in Olokola, Ogun State, about 100 kilometres (62 miles) from his massive fertilizer and petrochemical facilities in Lagos.

Currently, Dangote exports fertilizer and urea through a private jetty he built near the refinery site, the same jetty that also receives the heavy equipment needed for operations.The new port will help integrate logistics and export activities across the group.

It could rival key facilities in Lagos, including the Chinese-backed Lekki Deep Sea Port, which opened in 2023.

“It’s not that we want to do everything by ourselves,” Dangote said, “but I believe this kind of investment will inspire other entrepreneurs to get involved too.”

Beyond fertilizer exports, Dangote also plans to ship liquefied natural gas (LNG) from Lagos.

This project will require the construction of pipelines from the Niger Delta, according to Devakumar Edwin, vice president of the Dangote Group.

Continue Reading

Business

Global trade grew $300bn in the first half of 2025 – UNCTAD

The shift was driven by a 14% surge in United States imports and a 6% jump in European Union exports.

Published

on

By

52 Views

Image: Ocean economy/UNCTAD

Global trade expanded by an estimated $300 billion in the first half of 2025, growing at an estimated 1.5% in the first quarter and projections showing 2% growth in the second.

UN Trade and Development (UNCTAD) disclosed this in its just released Global Trade Update (July 2025).

Said the report:

Price increases contributed to the overall rise in trade value. Prices for traded goods edged up in the first quarter and likely continued to rise in the second, while trade volumes grew by just 1%.

Developed economies outpaced developing countries in the first quarter of 2025, reversing recent trends that had favoured the Global South. The shift was driven by a 14% surge in United States imports and a 6% jump in European Union exports.

Trade imbalances widened during the last four quarters, with the US posting a larger deficit, while China and the European Union recorded growing surpluses.

The report further said that global trade faces mounting headwinds in the second half of 2025, amid persistent policy uncertainty, geopolitical tensions and signs of slowing global growth.

Continue Reading

Trending