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The Untapped Wealth in Inherited Family Lands: Turning Ancestral Property into Profitable Real Estate Investments in Nigeria by Dennis Isong

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In Nigeria, we often hear things like: “That land in the village belongs to my grandfather.”

“Our family land has been there since I was a child.” “We just leave it there. Nobody touches it.

“What if I told you that the land you inherited from your father, grandfather, or even great-grandmother might just be sitting on gold — not literal gold, but real estate potential that could start making you money today?

Let’s break it down.

1. The Emotional vs Economic Value of Inherited Land

Many families in Nigeria attach deep emotional and cultural value to ancestral land.

It’s a symbol of roots, heritage, and continuity. But while emotions are valid, leaving valuable property to gather bush and termites does not honor the legacy — it stagnates it.

Ancestral land should not just be a memory bank; it should be a financial engine.

2. Common Myths That Keep Family Lands Idle

Let’s address the biggest myths: “It’s just bush, what can I do with it?” That bush is someone’s dream site for a school, farm, event center, or warehouse.

“We don’t want to sell our heritage.” Who says you must sell it? You can lease, rent, or build and still retain ownership.

“There’s a land dispute in the family.”

Then resolve it. Land conflict delays wealth. Engage a legal mediator and document ownership properly.

“It’s in the village, nobody will rent there.” These days, villages are turning into towns. Many urban workers are relocating to semi-rural areas because of cost and quiet.

People now work in the city and sleep in the village.

3. Real Possibilities:

What You Can Do With Inherited Land

Let’s talk about how to transform that “useless” land into profit:a) Agribusiness Lease

If you don’t have money to farm it yourself, lease the land to an agro-entrepreneur. Nigeria’s food needs are rising, and farmland is gold.b)

Event Center or Open Space Rental

Got family land with space? Flatten it, clear it, fence it, and start renting it out for weddings, parties, and church crusades.

Rural areas love open-air events.c)

Build Low-Cost Housing for Rent

Build a few 1-bedroom bungalows or mini-flats.

People are moving to outskirts like Ikorodu, Mowe, and Ifo. Affordable housing is in demand. d )

Warehouse or Storage Facilities

Urban traders need warehouse space in cheaper locations. Rural lands close to main roads are perfect for this.e)

Instead of leaving the land idle and arguing over it during Christmas family meetings, why not take charge and begin something that creates cash flow?

Partner with Developers

You bring the land, they bring the money. A good joint venture agreement can turn idle land into profit-yielding property while you still retain your rights.

4. Legal Steps You Must Not Ignore Before you do anything, please make sure of the following:

Proper Documentation: Make sure the land has a Deed of Assignment, survey plan, and preferably a Certificate of Occupancy or Governor’s Consent if within a government-acquired zone.

Family Agreement:

If it’s a family land, gather everyone and get a written agreement to avoid “wahala” later.

Registered Company (Optional): Consider registering a business to manage the land, especially if you’re building rentals or leasing. Get a Lawyer: Never cut corners.

A good property lawyer will save you stress, especially for joint ventures or leasing contracts.

5. True-Life Example: From Bush to Blessing.

Mr Tunde inherited a 2-acre land in Ilaro, Ogun State. For 10 years, it was just a yam farm.

In 2022, he cleared it, fenced it with blocks, built a borehole, and put plastic chairs under canopies. He started renting it out as an event ground. Today, every Owambe weekend earns him 100k-200k. All from “just family land.” Imagine that.

6. From Liability to Legacy

Family lands can move from being a burden to being a blessing.

Instead of leaving the land idle and arguing over it during Christmas family meetings, why not take charge and begin something that creates cash flow?

Think of it this way: Instead of telling your children, “This land belongs to your grandfather,”

You can say: “This property feeds our family today, and will feed yours tomorrow.”

7. Final Thoughts

It’s time to change our mindset. Not all real estate investment starts with buying new land. Sometimes, the land has already been given to you — free of charge.

The true investment is in your vision.Don’t wait till that land becomes an illegal dump site or is taken over by “omo onile” drama.

Begin today. Inspect it. Clear it. Value it. Use it. Your next real estate breakthrough might be hiding in your father’s backyard.

And if you ever need someone to help you inspect, plan, or connect you to builders, surveyors, or developers… you know who to call — Me, the real estate preacher with a sprinkle of bush-to-business miracles!

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Business

AI to eliminate 40% of global jobs – IMF boss

She described AI as a “slow-moving tsunami” for the labour market, saying it could augment, downgrade or eliminate jobs.

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•Kristalina Georgieva

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, says Artificial Intelligence (AI) could affect about 40 per cent of jobs globally, urging governments to prepare workers for the changing labour market.

Ms Georgieva said this during a panel session on “Small Scale AI: More and Better Jobs” at the 2026 IMF/World Bank Annual Meetings in Bangkok, Thailand, on Monday.

She described AI as a “slow-moving tsunami” for the labour market, saying it could augment, downgrade or eliminate jobs.

According to her, IMF estimates show that AI could affect about 60 per cent of jobs in advanced economies and 23 per cent in low-income countries

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HAPPENING NOW: Lagos E-Hailing Drivers Begin Indefinite Strike Over Fares, Welfare Others

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E-hailing drivers in Lagos State have commenced an indefinite strike over unresolved concerns about fare structures, high platform commissions, deductions and welfare conditions.

The industrial action, organised by the Amalgamated Union of App-Based Transporters of Nigeria (AUATON), an affiliate of the Nigeria Labour Congress, began on Monday and will continue until further notice or until satisfactory progress is made in addressing the drivers’ grievances.

In a notice issued ahead of the strike, AUATON said the decision followed persistent complaints about operational policies, drivers’ earnings, safety, security and the long-term sustainability of app-based transport work. “Despite repeated efforts by drivers and stakeholders to draw attention to these concerns, many of the issues remain unresolved,” the union stated.

The action primarily affects drivers on major platforms including Bolt and inDrive. Drivers are demanding a substantial reduction in commissions — with the union pushing for a maximum of 10 per cent — and a review of fare structures to better reflect rising operating costs such as fuel, vehicle maintenance, insurance, repairs and financing. They are also seeking improved welfare measures, stronger passenger verification, accident support and better protection against risks including robbery and assault.

To ease the financial pressure on participants, AUATON appealed to fleet owners and managers to temporarily suspend daily remittance obligations and related operational targets. The union urged partners not to impose penalties or sanctions solely because of a driver’s participation in the strike, noting that drivers would not be generating normal revenue during the industrial action.

AUATON said it plans to deploy its task force across local government areas in Lagos to monitor compliance, with internal disciplinary measures possible for drivers who defy the directive. The notice was signed by the Lagos State Chairman of AUATON, Jaiyesimi Olalabi Azeez (popularly known as Makavelli), who reaffirmed the union’s willingness to pursue peaceful dialogue with platforms, fleet owners and other stakeholders.

Bolt has called for constructive dialogue, saying it recognises the economic pressures facing drivers and has proposed a roundtable discussion with AUATON and driver representatives. The company stated it is committed to addressing concerns around earnings, operating costs, transparency and welfare.

Commuters in Lagos who rely heavily on app-based services may experience fewer available vehicles, longer waiting times and potential fare increases while the strike continues.

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Afreximbank Hails Africa Credit Rating Agency

” We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

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Photo: Mr Denys Denya, Senior Executive Vice President of Afreximbank addresses guests during the launch of the Africa Credit Rating Agency in Port Louis, Mauritius on October 7, 2026

African Export-Import Bank (Afreximbank) has declared it’s strong backing for the recently launched Africa Credit Rating Agency (AfCRA) by the African Union.

“AfCRA is an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk,” said Mr Denys Denya, Senior Executive Vice President of Afreximbank.

Mr Denya emphasised that credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development.

It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market.

Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage.

Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models.

Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denya, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures.

The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.

”Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans.

“We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

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