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Ten Benefits of Joint Property Ownership in Nigeria by Dennis Isong

Owning property together with someone else can be a smart move in Nigeria. This is called joint property ownership.
Let’s look at ten good reasons why people choose to own property together in Nigeria.
1. Sharing the Cost Buying property in Nigeria can be very expensive. When you own property jointly with someone else, you can split the cost.
This makes it easier for many people to become property owners.
Imagine you want to buy a house that costs 20 million Naira. If you buy it alone, you need to pay the full 20 million. But if you buy it with a friend, you might only need to pay 10 million each. This makes it much easier to afford the house.
Sharing the cost doesn’t just help when you’re buying the property. It also helps with other expenses like: – Repairs and maintenance – Property taxes – Insurance
When you share these costs, owning property becomes less of a financial burden.
2. Easier to Get Loans Banks and other lenders often prefer giving loans to joint property owners. This is because there’s less risk for the bank when there’s more than one person responsible for paying back the loan.
If you apply for a mortgage loan alone, the bank might worry about your ability to pay it back. But if you apply with a co-owner, the bank sees that there are two incomes to rely on for repayment. This can make it easier to get approved for a loan and might even help you get better loan terms.
3. Sharing Responsibilities Owning property comes with many responsibilities. When you own property jointly, you can share these tasks with your co-owner. This can make property ownership less stressful and time-consuming.
For example, if the property needs repairs, one owner might handle finding a good contractor while the other deals with the paperwork.
If it’s a rental property, one owner could handle finding tenants while the other manages the finances.
Sharing responsibilities can lead to better property management because each owner can focus on what they’re best at.
4. Potential for Higher Returns When you pool resources with a co-owner, you might be able to invest in better properties.
These properties often have the potential for higher returns, either through rental income or when you sell the property later.
For instance, you and your co-owner might be able to afford a property in a prime location that you couldn’t buy alone. Properties in good locations often increase in value faster than those in less desirable areas.
5. Risk Sharing Property ownership always comes with some risks. These might include: – The property losing value – Unexpected repair costs – Legal issues When you own property jointly, you share these risks with your co-owner. This can make the risks feel less overwhelming. If something goes wrong, you’re not facing the problem alone.
When you own property jointly, you can share these tasks with your co-owner. This can make property ownership less stressful and time-consuming.
6. Tax Benefits In Nigeria, there can be tax advantages to joint property ownership.
For example, if the property generates income (like rent from tenants), the tax burden is split between the owners.
This might put each owner in a lower tax bracket than if they owned the property alone.
It’s important to note that tax laws can be complicated and change over time.
It’s always a good idea to talk to a tax expert about your specific situation.
7. Estate Planning Advantages
Joint property ownership can make things easier when it comes to inheritance. In many cases, when one owner dies, their share of the property automatically goes to the other owner(s). This is called the “right of survivorship.”
This can simplify the process of passing on property to heirs. It can help avoid some of the complications and delays that often come with settling an estate.
8. Flexibility in Ownership Structure There are different ways to structure joint property ownership in Nigeria. You can choose the structure that works best for your situation.
Some common options include: – Joint Tenancy: All owners have equal rights to the property. – Tenancy in Common: Owners can have unequal shares of the property. – Partnership: Often used for business properties.
This flexibility allows you to set up the ownership in a way that’s fair and makes sense for everyone involved.
9. Learning Opportunities When you own property with someone else, you have the chance to learn from each other. Your co-owner might have skills or knowledge that you don’t have.
For example, one owner might be good at negotiating with contractors, while the other is skilled at budgeting and financial planning.
By working together, both owners can learn new skills and become better property managers.
10. Social and Emotional Benefits Owning property together can strengthen relationships. Whether you’re co-owning with a family member, friend, or business partner, working towards a common goal can bring people closer together.
There’s also an emotional benefit to knowing that you’re not alone in this big financial decision. Having someone to share the ups and downs of property ownership with can make the experience more enjoyable.
Things to Keep in Mind While joint property ownership has many benefits, it’s important to be careful when choosing this option.
Here are a few things to consider: – Choose your co-owner wisely. Make sure it’s someone you trust and can work well with. – Have a clear agreement.
Write down how you’ll share costs, responsibilities, and profits. – Plan for the future. Discuss what will happen if one owner wants to sell their share or can’t pay their part. – Get legal advice.
A lawyer can help you understand all the legal aspects of joint ownership.
Joint property ownership in Nigeria can be a great way to get into the property market, share costs and responsibilities, and potentially earn better returns.
It offers financial benefits, practical advantages, and even social and emotional rewards. However, it’s not a decision to be taken lightly.
It’s important to carefully consider your options, choose your co-owner wisely and set up a clear agreement.
With the right preparation and partner, joint property ownership can be a rewarding experience that helps you achieve your property ownership goals in Nigeria.
Remember, every situation is unique.
What works well for one group of co-owners might not be the best choice for another.
Always consider your own circumstances and goals when deciding whether joint property ownership is right for you.
News
BREAKING: Tinubu swears in Amupitan as new INEC Chair

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.
Business
Dangote denies owning truck that killed eight in Ondo accident

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.
News
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.

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.
Credit: Punch
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