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Why Is Due Diligence Important in Real Estate?

It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.

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By Dennis Isong

In September 2023, I received a call from Tunde, one of my YouTube subscribers.

He said, “Dennis, I’ve been following your videos for nine months. I wish I had called you earlier.

His voice sounded heavy, and I could tell something was wrong.

  Tunde shared his story. A few months earlier, he had found a piece of land in Sangotedo.

It was near a proposed shopping mall, and the seller promised him the price would double in a few years.

Excited by the opportunity, Tunde quickly paid a deposit and began making big plans for the land.   But his excitement didn’t last long.  

Two months after making the payment, Tunde discovered that the land was under government acquisition. It couldn’t be sold or developed legally.

The seller, who had been so convincing, had disappeared. Tunde lost his money and his dream.

He called me to share his heartbreak and said, “Dennis, if only I had known. Is there anything I could have done to avoid this?”  

Tunde’s story is a painful reminder of the dangers of skipping due diligence.

It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.

What is Due Diligence?

Due diligence is the process of carefully checking a property before you buy it. It’s like a safety net that protects your money and your dreams.   When you do due diligence, you:

  ●      Confirm the seller owns the property.  

●      Check if the land is free from government acquisition or disputes.  

●      Verify that the property meets all legal requirements.     Tunde skipped this step, and it cost him everything.

Why Due Diligence Matters

1. To Avoid Legal Problems

  Imagine buying land, only to find out it belongs to the government or someone else. You could lose your money and face years of legal battles.   Due diligence helps you:   – Confirm ownership.   – Avoid family or land disputes.   – Ensure the land is safe to buy.  

2. To Protect Your Money  

Real estate is expensive, and losing your investment can be devastating. Without due diligence, you could:   – Buy land already sold to others.   – Purchase property with hidden issues like unpaid taxes.   – Overpay for land that’s not worth the price.

  3. To Avoid Regret  

Tunde now regrets rushing into his purchase without asking the right questions or verifying the seller’s claims. His story shows how skipping due diligence can lead to heartbreak.    

Learn From Tunde’s Experience  

Tunde’s mistake isn’t uncommon. Many people rush into buying land without checking the details.

But real estate is a serious investment, and taking shortcuts can lead to financial and emotional pain. What Can You Do to Protect Yourself? Before buying land, always:  

1. Verify ownership: Check the property’s title and ownership.  

  2. Investigate the land’s status: Ensure it’s not under government acquisition or involved in disputes.    

3. Work with professionals: Hire a lawyer or real estate expert to guide you.  

  Your Investment Deserves Protection  

Tunde’s story is a hard lesson, but it’s one we can all learn from. Don’t let excitement or urgency make you skip due diligence.

Take your time, do the research, and ask for help.   In real estate, it’s better to be safe than sorry.  

STOP LOSING MONEY IN LAGOS REAL ESTATE! Learn How to Verify Land Titles and Avoid Scams.

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Let’s make your next investment a safe and successful one!

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BUA Chairman Rabiu shares South Africa visa entry denial experience at Africa CEO Forum

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

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The founder and Chairman of BUA Group, Abdul Samad Rabiu, has recounted how he was denied entry into South Africa after his visa expired a day before his trip, while European travellers were reportedly allowed into the country without visas.

Rabiu shared the experience on Thursday while speaking on “Africa at Scale: Capital, Policy and the Architecture of Growth” at the ongoing Africa CEO Forum in Kigali, Rwanda.

He said that the incident occurred in February 2025 when he travelled from Lagos to Cape Town for the Mining Indaba conference.

He said that immigration officials stopped him on arrival after discovering that his visa had expired the previous day.

Rabiu explained that he and his team spent about four hours at the airport before he was eventually returned to Lagos.

“I take full responsibility because my visa had expired and my crew failed to notice it before the trip,” he said.

However, the businessman said that he became concerned after noticing that passengers arriving on multiple flights from Europe were allowed into South Africa without visas while he, as an African, was denied entry.

“While we were waiting at the immigration desk, there were about three international flights from Europe. Most of the passengers were Europeans, and they all entered Cape Town without visas,” he said.

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

“I did not have a problem with being returned because I had no valid visa. My issue was being an African in Africa and being denied entry, while foreigners from other continents were allowed in freely without visas,” he said.

He called for reforms in visa and immigration policies across the continent, stressing that Africa cannot achieve meaningful economic integration while Africans continue to face barriers moving within African countries.

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At Africa CEO Forum, President Tinubu Highlights “Partnerships That Moves Africa Forward”

“With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

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President Bola Ahmed Tinubu during a panel session at the ongoing Africa CEO Forum, called for “Partnership that can move Africa forward.”

He advocated an “Africa First” approach to development, insisting that African resources should primarily benefit the continent through local processing and manufacturing.

“We don’t want scavengers and extractors. We want partners who process and manufacture locally,” said President Tinubu.

He said that his administration’s policies were positioning Nigeria as an open and competitive destination for investment.

“In Nigeria, we’ve attracted nearly $20 billion in direct investment this year because we are efficient, transparent, and open for business,” President Tinubu said.

President Tinubu attributed the inflow to reforms aimed at improving transparency, efficiency, and investor confidence in the country.

He said that Nigeria would no longer permit the export of raw minerals without local value addition, noting that the country possesses the capacity to manufacture products such as electric vehicle batteries from its mineral resources.

He said: “With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

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Obi Meets UK Business Leaders, Advocates Stronger Support for MSMEs

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Presidential hopeful of the National Democratic Congress (NDC), Mr. Peter Obi, has reiterated the critical role of micro, small, and medium-sized enterprises (MSMEs) in driving Nigeria’s economic growth and reducing unemployment.

Obi made the remarks on Tuesday following a series of meetings in London with stakeholders in British politics and the business community, including Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

According to Obi, discussions with Lord Marland focused on prospective trade opportunities, economic advancement, and strategies for promoting small businesses across Nigeria.

Drawing comparisons with rapidly developing economies such as China, Indonesia, and Vietnam, Obi stressed that sustainable economic growth and job creation can only be achieved through deliberate support for MSMEs.

The former Anambra State governor maintained that small businesses remain the backbone of the economy and called for stronger policies aimed at boosting development and creating employment opportunities, particularly in the agriculture and manufacturing sectors.

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