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.

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.
Business
Dangote Refinery Debunks shutdown rumour, says PMS’s gantry price remains N850

The Dangote Petroleum Refinery has firmly dismissed recent reports alleging a shutdown of its operations, reassuring the public and market stakeholders that its activities remain fully active and stable.
In an official statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery’s management categorically denied claims that truck loading has been suspended or that production has been interrupted. “The Dangote Petroleum Refinery is fully operational. There has been no shutdown, nor has there been any suspension of truck loading activities” the statement reads.
The refinery also clarified that the intermittent sale of Residual Catalytic Oil (RCO) is part of normal business operations, often involving large parcel sales, which explains the recent fuel oil tender.
According to the management, Dangote Petroleum Refinery consistently supplies over 40 million litres of PMS daily, alongside steady volumes of Automotive Gas Oil (diesel). These supplies continue unabated, despite speculation suggesting otherwise.
“As the world’s largest single-train petroleum refinery, the facility employs advanced predictive and preventive maintenance protocols to ensure uninterrupted operations. Routine maintenance activities are standard and do not impact the overall fuel supply” the statement further clarified.
In response to speculation about potential supply shortages and price increases, the refinery challenged those sponsoring the rumour to place orders for daily deliveries of up to 40 million litres of PMS and 15 million litres of diesel for the next 90 days.
“To those who believe this misinformation and anticipate a bullish market, we extend a challenge: We invite interested buyers to place immediate orders for up to 40 million litres of PMS daily and 15 million litres of AGO daily, for the next 90 days, with full upfront payment. Should any supposed supply shortage occur, these buyers would be well-positioned to benefit from the predicted market rise,” it added.
The refinery reaffirmed its commitment to transparency and Nigeria’s energy security, urging the public to disregard unfounded rumours sponsored by unscrupulous and unpatriotic individuals seeking to undermine the country’s energy independence for their own selfish interests, including the importation of substandard fuels under the false pretext of domestic supply shortages.
Business
Ikeja Electric releases new prepaid meter prices

Ikeja Electric has released updated prices for prepaid meters, which take effect from August 6, 2025. The revised rates cover both single-phase and three-phase meter types and are inclusive of VAT.
The revised rates were announced on the disco’s official X account on Friday.
The company announced that “MBH Power Ltd’s one-phase costs ₦135,987.50, while the three-phase costs ₦226,825.00. Turbo Energy Ltd’s one-phase costs ₦145,608.75, while the three-phase costs ₦236,903.13.
“Aries Electric Ltd’s one-phase costs ₦145,125.00, and the three-phase costs ₦258,000.00. Mojec Asset Management Company Ltd’s one-phase costs ₦135,718.75, and the three-phase costs ₦226,825.00.
“Paktim Metering Nig. Ltd, the one-phase meter costs ₦137,600.00, while the three-phase meter costs ₦233,275.00. Holley Metering Ltd’s one-phase meter costs ₦133,854.03, three-phase meter costs ₦219,497.09.
“CIG Metering Assets Nigeria Ltd’s one-phase meter costs ₦150,500.00, New Hampshire Capital Ltd’s one-phase meter costs ₦133,300.00 and the three-phase costs ₦231,125.00.”
The electricity distribution company noted that the prices are “valid subject to meter availability,” adding that the changes are part of its effort to ensure customers have access to up-to-date information on meter procurement.
The company also assured customers that the new pricing reflects the latest approved rates for meter providers under its Meter Asset Provider scheme.
Business
Global electricity demand to keep growing robustly through 2026 despite economic headwinds – IEA
Renewables are expected to overtake coal as the world’s largest source of electricity as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends.

Global electricity demand is set to rise by 3.3% in 2025 and 3.7% in 2026 – more than twice as fast as total energy demand growth over the same period, the IEA’s Electricity Mid-Year Update finds.
The new report underscores the increasing demand for electricity to power factories and appliances, keep buildings cool, operate growing fleets of data centres, run electric vehicles and more.
While the latest forecasts for global electricity demand growth this year and next are a deceleration from the 4.4% surge recorded in 2024, they remain well above the 2015-2023 average of 2.6%.
Renewables are expected to overtake coal as the world’s largest source of electricity as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends.
At the same time, nuclear power output is expected to reach record highs, driven by reactor restarts in Japan, robust output in the United States and France, and new additions, mostly in Asia.
The steady increase in gas-fired power generation is set to continue displacing coal and oil in the power sector in many regions.
As a result of these developments, carbon dioxide emissions from electricity generation are currently forecast to plateau in 2025 and record a slight decline in 2026, although weather and economic conditions could affect that trajectory.
“The growth in global electricity demand is set to remain robust through 2026, despite an uncertain economic backdrop,” said Keisuke Sadamori, IEA Director of Energy Markets and Security.
“The strong expansion of renewables and nuclear is steadily reshaping electricity markets in many regions. But this must be matched by greater investment in grids, storage and other sources of flexibility to ensure power systems can meet the growing demand securely and affordably.”
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