Business
Top Five Universities Driving Student Housing Investment in Nigeria
Most public universities have hostels that can only accommodate about 10 to 15 percent of their students. The remaining 85 to 90 percent are forced to seek off-campus housing.
By Dennis Isong
When Segun got admitted into the University of Lagos, his parents were overjoyed.
But their excitement quickly turned to frustration when they started looking for accommodation.
The school hostels were full. Agents were quoting outrageous prices. One-bedroom apartments meant for young couples were now being shared by four undergraduates.
Segun’s father, a civil servant, couldn’t understand how student housing could be such a goldmine—until he saw the crowd of parents and students at Yaba, begging landlords for spaces.
That was his moment of realisation. Student accommodation, once considered a simple rental business, had quietly become one of the most profitable real estate niches in Nigeria.
And at the center of this boom are the universities themselves.
Let’s explore the Top Universities Driving Student Housing Investment in Nigeria, how they are shaping this growing market, and why investors are rushing to build around them.
1. University of Lagos (UNILAG) – Where Demand Never Sleeps
If you live in Lagos, you already know that UNILAG is more than a university; it’s a small city.
With over 50,000 students and limited hostel spaces, the demand for off-campus housing has been consistent for years. Yaba, Akoka, Bariga, and even Shomolu have become mini real estate hubs simply because of UNILAG.
Every year, thousands of students search for decent accommodation near the school. Landlords and investors are taking advantage of this by converting old family houses into student apartments or building new hostels with shared amenities.
Areas like Alagomeji and Fadeyi have also seen steady rental growth because many students prefer comfort and proximity to the campus.
Interestingly, some property developers now design hostels that look more like serviced apartments—with constant electricity, water, Wi-Fi, and security—because they’ve realised that middle-class parents are willing to pay extra for safety and convenience.
The result is a small but vibrant ecosystem of property managers, food vendors, laundry services, and transport providers—all thriving because of UNILAG’s population.
For real estate investors, this is a signal: where there are thousands of students and limited on-campus accommodation, the opportunities are endless.
2. Covenant University – The Private-Sector Effect
Covenant University in Ota, Ogun State, has done something remarkable—it has shown investors that the private education system can be a powerful driver of property value.
Unlike public universities, Covenant offers structured academic calendars, high discipline, and a stable academic environment.
This consistency has made Ota and its surrounding areas a magnet for real estate development.
While most Covenant students stay on campus, the ripple effect of the university’s growth has attracted other educational institutions, training centers, and businesses to the area.
Investors are now developing modern student apartments and staff housing in anticipation of expansion.
The Ota property market today looks very different from what it was 10 years ago. Many Lagos investors are buying land or building small blocks of flats around Canaanland because the road connectivity to Lagos has improved.
The appeal here is not just student housing—it’s a mix of residential and commercial potential driven by academic growth.
Covenant University represents the new wave of education-led urbanization in Nigeria: where private universities are not only shaping minds but also shaping skylines.
3. Obafemi Awolowo University (OAU) – The Old Giant With New Promise
Obafemi Awolowo University, fondly called Great Ife, sits majestically in Ile-Ife, Osun State.
For decades, it has been one of Nigeria’s most respected institutions, attracting students from every part of the country.
But here’s something most people don’t realize—behind the beauty of its ancient trees and iconic structures lies a growing housing challenge that’s creating serious investment opportunities.
Most OAU students struggle to find affordable and decent accommodation close to the school.
The university hostels can only take a small percentage of the total student body.
This gap has given rise to what locals now call “student towns”—neighborhoods like Road 7, Asherifa, and Mayfair, where almost every building is either a student hostel or a mini apartment.
What’s fascinating about Ile-Ife’s property scene is that the investors aren’t just locals. People from Lagos, Ibadan, and Abuja are buying land there because they’ve seen the long-term potential.
The rental cycle is predictable—students come, pay upfront for an academic year, and leave. That consistency makes student housing one of the few stable investment options in the region.
Even though the city is not as large or flashy as Lagos or Abuja, its educational reputation guarantees a steady demand for accommodation.
And as long as OAU remains one of the country’s academic giants, real estate investors will continue to see returns there.
4. University of Ibadan (UI) – The Pioneer’s Advantage
The University of Ibadan holds a special place in Nigeria’s educational history.
As the country’s oldest university, it has produced generations of leaders, scholars, and professionals.
But beyond academics, UI has quietly built one of the strongest rental markets in the South-West.For years, Bodija, Agbowo, and Ajibode have been the heartbeat of UI’s student accommodation market.
Landlords who understand the student rental system rarely experience vacancies.
Many properties are paid for months before new sessions even begin.What makes Ibadan unique is its affordability. Unlike Lagos, land and construction costs are lower, making it easier for small and medium investors to build hostels or mini-flats for students.
And with the expansion of the University College Hospital (UCH) and several private schools in the city, the overall demand for housing continues to rise.
In recent times, new developers have started introducing modern “student villages”—purpose-built hostel communities with amenities like solar power, 24-hour water supply, and study lounges.
These developments are attracting attention from diaspora investors who want something sustainable yet affordable.Ibadan’s student housing market is a fine example of how education and real estate can thrive together when urban growth meets affordability.
5. University of Nigeria, Nsukka (UNN) – The Eastern Powerhouse
In the eastern part of Nigeria, no university commands as much presence as the University of Nigeria, Nsukka.
Established in 1960, UNN has grown into one of the largest universities in the country, both in population and landmass. With that growth has come a massive housing demand.
Nsukka, once a quiet town, is now buzzing with construction. Students, lecturers, and non-academic staff all need accommodation. Investors who got in early have made huge returns as rental prices have steadily increased over the years.
Neighborhoods like Hilltop, Odenigbo, and Odim are now full of newly built hostels and apartments designed specifically for students.What makes UNN particularly interesting for investors is its stability.
The school rarely experiences prolonged strikes or disruptions, meaning students stay consistent with their rental payments.
The cost of living in Nsukka is also lower than in major cities, so developers can build more for less while still enjoying good returns.
Some real estate companies have even started offering flexible rent payment plans for students, making housing more accessible while ensuring regular income for landlords.
Nsukka’s steady academic rhythm and growing infrastructure make it one of the most attractive university towns for real estate investment in eastern Nigeria.
The Bigger Picture – Why Student Housing Is the Future
The story of student housing investment in Nigeria isn’t just about buildings; it’s about people.
Every year, over 1.8 million students apply to Nigerian universities through JAMB, but only a fraction gets admitted.
For those who do, finding accommodation becomes one of their biggest struggles.
Most public universities have hostels that can only accommodate about 10 to 15 percent of their students. The remaining 85 to 90 percent are forced to seek off-campus housing.
This imbalance has created a multi-billion-naira market that continues to expand every year.
Investors who understand the dynamics of this market are focusing on locations with large student populations, predictable academic calendars, and supportive local infrastructure.
The success stories around UNILAG, OAU, UI, Covenant, and UNN prove that educational institutions can be catalysts for urban transformation.
Beyond profits, student housing investments have social value.
They reduce pressure on university facilities, provide safe environments for students, and create jobs for property managers, artisans, and local businesses.
When managed properly, these projects can become models for community-driven development.
A Short Reflection
When Segun finally settled into his new apartment near UNILAG, he sent his father a simple text: “Dad, I found a place.”What he didn’t know was that his father had quietly decided to invest in a small piece of land nearby.
A year later, he built a six-room student hostel. Within a month of completion, all rooms were occupied.
That single decision turned him from a worried parent into a property investor.That’s how most real estate stories begin—not with big capital, but with observation and timing.
In Nigeria’s evolving real estate landscape, student housing is quietly becoming one of the smartest and most stable investment choices. And at the heart of it all are the top universities driving the demand.
Conclusion
The Top Universities Driving Student Housing Investment in Nigeria—University of Lagos, Covenant University, Obafemi Awolowo University, University of Ibadan, and University of Nigeria, Nsukka—are shaping not just education but also the future of property investment.
From Lagos to Ota, from Ile-Ife to Ibadan, and from Nsukka to other emerging university towns, the pattern is clear: wherever there is a growing student population, there is a growing need for quality housing.
The smartest investors are those who can see the link between academic expansion and real estate opportunity.
Education is one of the few constants in a country full of uncertainties.
Students will always need accommodation. Parents will always seek comfort and safety for their children.
And investors who can meet that need will always have steady income, year after year.If you’re thinking about investing in Nigerian real estate, perhaps it’s time to look beyond luxury apartments and gated estates—and look toward the student hostels that never stay empty.
Because as long as universities keep producing graduates, the business of housing them will never go out of demand.
Dennis Isong is a Top Realtor in Lagos. He helps Nigerians in the Diaspora to own property in Lagos, Nigeria, stress-free. For questions, WhatsApp/Call +2348164741041
Business
Dangote Partners Honeywell International to Boost Refinery Capacity to 1.4 million barrels per day
Dangote Refinery, Africa’s largest single-train petroleum refinery, has signed a landmark contract with U.S. industrial giant Honeywell International to execute a significant capacity upgrade that will boost the facility’s crude processing capability from the current 650,000 barrels per day to an ambitious 1.4 million barrels per day.
The multi-billion-dollar project, described by sources close to the deal as one of the largest refinery expansion initiatives globally in recent years, will involve the installation of advanced process units, automation systems, and energy-efficiency technologies supplied and integrated by Honeywell UOP and Honeywell Process Solutions.
Aliko Dangote, President and CEO of Dangote Industries Limited, confirmed the partnership, stating: “This strategic collaboration with Honeywell will position the Dangote Refinery as one of the top five largest refineries in the world by capacity.
The upgrade will not only enhance our ability to meet Nigeria’s complete refined products demand but also establish the refinery as a major export hub for gasoline, diesel, jet fuel, and petrochemicals across Africa and beyond.
”The expansion is expected to be implemented in phases, with key units including additional crude distillation, hydrocracking, and catalytic reforming modules.
Honeywell’s proprietary technologies are anticipated to improve yield of high-value products while reducing energy consumption and emissions.Upon completion, the 1.4 million bpd Dangote Refinery will surpass the current global top-tier facilities such as Reliance Industries’ Jamnagar Refinery (1.24 million bpd) and Paraguay’s planned 1.2 million bpd project, cementing its status as the world’s largest single-train refinery.
The project is expected to create thousands of direct and indirect jobs during the construction and commissioning phases and further reduce Nigeria’s dependence on imported refined petroleum products.
A spokesperson for Honeywell confirmed the award, saying the company was “honored to partner with Dangote on this transformative project that will reshape the African downstream landscape.
”Detailed timelines and the exact value of the contract were not disclosed, but industry analysts estimate the expansion could exceed $5–7 billion in total investment.
The statement said: Dangote Group is pleased to announce that it has entered into a strategic partnership with Honeywell International Inc to support the next phase of expansion of the Dangote Petroleum Refinery.
This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in our long-term vision to build the world’s largest petroleum refining complex.
Through this agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently and to further enhance product quality and operational reliability.
Honeywell, a global Fortune 100 industrial and technology company, offers a wide portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.
Honeywell’s division UOP has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high performance column trays, and heat exchanger technologies that support our best-in-class operations.
Dangote Group is also advancing its petrochemical footprint. As part of the wider collaboration, we are scaling our polypropylene capacity to 2.4 million metric tons annually using Honeywell’s Oleflex technology.
Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.In addition to refining expansion, Dangote Group is progressing with the next phase of its fertiliser growth plan in Nigeria. We will increase our urea production capacity from 3 million metric tons to 9 million metric tons annually.
The existing plant consists of two trains of 1.5 million metric tons each. The expansion will add four additional trains to meet growing demand for high-quality fertiliser across Africa and global markets.
Dangote Group remains fully committed to delivering world-class industrial capacity, strengthening Nigeria’s energy security, and driving sustainable economic growth through long-term investment, innovation, and strategic global partnerships.
Business
What Happens if You Build on Unregistered Land in Nigeria? By Dennis Isong
In Lagos and other parts of Nigeria, registration is what gives life to land ownership. It’s like having a car without registration papers—you may drive it for a while, but if the authorities stop you, you’ll have questions to answer.
It started with Tunde, a middle-aged man who had finally saved enough to build a small bungalow for his family in Lagos. He bought land through a “family agent,” eager to start construction quickly.
Within months, the foundation was up, walls were rising, and he proudly watched his dream take shape. But one morning, government officials showed up with an order—his building was sitting on unregistered land.
Tunde’s heart sank. Everything he had worked for was suddenly at risk.Tunde’s story is not uncommon in Nigeria. Many people rush into building on land without confirming its legal status.
The result is often heartbreaking—loss of property, endless court cases, or government demolition. So, what happens if you build on unregistered land in Nigeria? Let’s break it down carefully and realistically.
1. Understanding What Unregistered Land Means
Before we talk about what happens if you build on unregistered land in Nigeria, it’s important to understand what unregistered land actually means.
In simple terms, unregistered land is land that has not been formally recorded with the government or does not have an official title document such as a Certificate of Occupancy (C of O), Governor’s Consent, or registered Deed of Assignment.
When land is registered, it means the government recognizes you as the lawful owner.
Your name and the property details are stored in official land registries, making your ownership legally protected.
But if your land is unregistered, your ownership may only be based on informal documents—like receipts, family agreements, or a local survey plan—which are not legally binding in court.
In Lagos and other parts of Nigeria, registration is what gives life to land ownership. It’s like having a car without registration papers—you may drive it for a while, but if the authorities stop you, you’ll have questions to answer.
The same principle applies to land. You may fence it, build on it, and even live there, but if your land is not legally registered, you don’t have full ownership rights.
This is why real estate experts always warn buyers to confirm land titles before paying a dime. Because in Nigeria, owning land and proving ownership are two different things.
2. The Legal Consequences of Building on Unregistered Land
Now, let’s answer the main question—what happens if you build on unregistered land in Nigeria? The legal consequences can be very serious.
When you build on unregistered land, your development is seen as being done without proper authorization.
According to the Land Use Act of 1978, all land in each state belongs to the Governor, who holds it in trust for the people.
To legally own or use any land, you must have the Governor’s approval through the Certificate of Occupancy or Governor’s Consent. Without this, your ownership is incomplete in the eyes of the law.
If government officials discover that your land is unregistered, they can issue a “stop-work” order, preventing further construction. In many cases, if the land falls under government acquisition or reserved area, the building may be marked for demolition.
And if the land belongs to another person who has legal registration, you could be charged with trespass, even if you didn’t know.
Imagine spending millions building your dream house only to be told that it stands on land that belongs to someone else—or worse, on land the government has already allocated for a public project.
In such cases, ignorance is not an excuse. The law prioritizes the registered owner.Another hidden danger is that you can’t use unregistered land for financial transactions.
For example, banks will never accept such property as collateral for a loan because it lacks a valid title.
Even selling it later becomes difficult since buyers now demand proper documentation before parting with money.
So, while you may enjoy the land temporarily, the long-term risk is too great. Building on unregistered land in Nigeria can cost you not just your investment but also your peace of mind.
3. The Financial and Emotional Cost of Building Without Proper Registration
There is a painful truth many Nigerians have learned the hard way—building on unregistered land might seem cheaper at first, but in the long run, it is far more expensive.Let’s go back to Tunde’s story.
After the authorities stopped his construction, he tried to regularize his documents.
He soon discovered that the land was under government acquisition, meaning it was never meant for private use.
To reclaim it, he had to go through an expensive and uncertain process called ratification.
That process involved multiple visits to government offices, lawyers’ fees, and months of waiting—with no guarantee of success.
Even if you’re lucky enough that the land can be ratified, the total cost of perfecting the title after building is usually higher than if you had done it before construction.
You might need to pay for survey plans, excision, governor’s consent, and other documentation. Each stage involves money, time, and patience.
Financially, you could also lose everything.
If a legitimate owner appears with registered documents, you’ll have no legal claim to the land.
Nigerian courts rely heavily on documentary evidence, not just physical possession.
So even if you’ve built a house and lived there for years, the registered owner can claim it and even obtain an order to demolish your structure.
Beyond money, there’s the emotional toll. Many families have experienced sleepless nights, endless anxiety, and strained relationships because of land issues.
You can’t enjoy your property when you’re constantly worried about losing it. And in some communities, land disputes can turn violent.
So, the next time someone offers you “cheap land,” pause and ask yourself: Is it registered? Because what looks like a bargain today might become your biggest loss tomorrow.
4. How to Avoid the Trap of Building on Unregistered Land
If you truly want to avoid the painful consequences of building on unregistered land in Nigeria, you must follow due process before laying a single block.The first step is verification.
Always confirm the status of the land with the Ministry of Lands or relevant authorities in the state.
In Lagos, for example, you can conduct a land search at the Alausa Land Registry. This search will show whether the land has a valid title, is under acquisition, or has any disputes.
Second, work with professionals. Engage a registered surveyor, a real estate lawyer, or a trusted realtor who understands the terrain.
They can help you verify documents, identify red flags, and guide you through the legal requirements.Third, insist on seeing original documents before paying for any land. Don’t rely on photocopies or word-of-mouth assurances.
If your land is not under government acquisition, you can apply for ratification or regularization.
This process involves the state government officially approving your ownership and issuing a title document.
Check for the C of O, Deed of Assignment, or Governor’s Consent. And if the land is family-owned, make sure you deal directly with recognized family heads, not self-appointed agents.
Fourth, once you buy the land, register it immediately. Many people delay registration because they want to “build first and register later.”
This is risky.
Once you start construction, you expose yourself to legal issues. Registering your land protects your ownership and gives you the confidence to develop it freely.
Last, remember that due diligence is cheaper than regret. Spending a few weeks verifying land is better than losing years of hard work.
5. What You Should Do If You’ve Already Built on Unregistered Land
Let’s be realistic—many people reading this might already be living on unregistered land.
The good news is that all hope is not lost. There are legal steps you can take to regularize your property, although it depends on the specific situation.
If your land is not under government acquisition, you can apply for ratification or regularization. This process involves the state government officially approving your ownership and issuing a title document.
You’ll need to submit your survey plan, proof of purchase, and other documents. It can take time, but once completed, your land becomes legally recognized.
However, if your land is within a government-acquired area or marked for public use, things get complicated. In such cases, the government may reclaim it without compensation.
But sometimes, depending on the policy and nature of the land, you may be able to apply for excision, which means the government releases a portion of the acquired land for private ownership.
Another option is negotiation. If the land belongs to a private owner with proper documents, you can reach an agreement and purchase the land officially through a fresh Deed of Assignment. It might be costly, but it’s better than losing your investment entirely.
The key is not to ignore the situation. Visit the Ministry of Lands, talk to a property lawyer, and start the regularization process.
The earlier you act, the higher your chances of securing your property legally.Building on unregistered land in Nigeria may seem like an innocent mistake, but the consequences can be devastating.
You risk losing your property, facing legal battles, or spending double the cost trying to fix documentation problems.
The question—What happens if you build on unregistered land in Nigeria?—should not just be a curiosity; it should be a serious warning to every property owner or investor.
Real estate in Nigeria is one of the most profitable investments, but only when done correctly.
Always prioritize legal ownership over quick development. Verify, register, and secure your documents before building.
It’s the only way to truly own your land without fear or uncertainty.So, learn from Tunde’s story. Don’t rush the process.
A dream home built on shaky legal ground can easily become a nightmare. But with proper guidance, patience, and professional help, you can own property in Nigeria safely and confidently.
Dennis Isong is a TOP REALTOR IN LAGOS.
He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call +2348164741041
Business
At age 16, he spent $23 to buy a website domain. 9 years later, his blue-collar business brings in $1.3 million a year
Almost a decade later, what started as a blue-collar side hustle by two brothers, now has over 20 employees and is on track to bring in about $2.3 million in 2025, according to documents reviewed by CNBC Make It.
Image credit: CNBC
Growing up, Zames Chew thought he wanted to work a white-collar role at a company like Google, but his career took a different turn.
Today, the 26-year-old runs the Singapore-based handyman service Repair.sg, alongside his 24-year-old brother and co-founder, Amos Chew.
In 2024, their Singapore-based company Repair.sg brought in 1.7 million Singapore dollars (about $1.3 million), according to documents reviewed by CNBC Make It.
“When I was younger, my dream was always to work in big tech,” said Chew. But one day in early 2016, he discovered a gap in the market.
“Our parents were looking for a service provider to fix something around the house,” said Chew. “I was just looking online, and … there [seemed] to be nowhere to find service providers [online] back in the day.
So I was like … let me put together a website and see what happens from there.”
So, at age 16, Chew spent 30 Singapore dollars (about $23) to buy a website domain name, had his father help him register the business, and Repair.sg was born.
Almost a decade later, what started as a blue-collar side hustle by two brothers, now has over 20 employees and is on track to bring in about $2.3 million in 2025, according to documents reviewed by CNBC Make It.
Starting a side hustle at 16
As kids, the Chew brothers loved being hands-on.
“My brother and I would do everything together. That means building Legos, building PCs, taking things apart,” said Chew.
”[We] have always been building projects together, and it has [been] our dream to … work together when we became adults.”
The two were able to realize this dream during their teenage years after starting Repair.sg.
The company gained momentum slowly until the last few years when its growth started to soar, said Chew.
For the first three years of the company, the brothers were still in school, so they had to squeeze in work for the business in between classes, or during their evenings.
What a lot of people don’t know is that there’s a lot of education … [and] licensing behind some of the services that we do, and it goes beyond just taking a screwdriver and hammer [to] things,” he said.
So they spent years acquiring the knowledge, skills and licenses necessary to run their business.
In addition, before the business scaled, they would take on most jobs themselves such as replacing lights, and fixing furniture.
“For the first seven years, up until perhaps even early 2024, [the business] was basically at the brink of death most of the time,” said Chew. “We were young and weren’t very good business owners.”
Credit: CNBC
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