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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.  

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

Business

Afreximbank Strengthens Dangote Refinery with US$1.35 Billion Loan

“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.

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• Aliko Dangote and Benedict Oramah

African Export-Import Bank (Afreximbank) has contributed US$1.35 billion of the US$4 billion syndicated financing arrangement for Dangote Industries Limited (DIL) to refinance the Dangote Petroleum Refinery and Petrochemicals Complex.

Commenting on the development, Professor Benedict Oramah, President & Chairman of Board of Directors at Afreximbank, said:“With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.

“It is only when African institutions lead the way that others can follow.

The journey to utilise African resources for its own economic transformation is well underway.

Through the Bank’s funding support, we are enhancing the capacity of the Dangote Refinery and Petrochemical Industries Ltd to produce and supply high quality refined petroleum products to the Nigerian market, as well as for export to the entire continent and the world. Our energy security is in sight.”

Aliko Dangote, President/Chief Executive, Dangote Industries Limited, added:“Afreximbank’s contribution to this milestone financing underscores our shared vision to industrialize Africa from within.

“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.

Afreximbank acted as the Mandated Lead Arranger, for the syndication.

This financing— one of the largest syndicated loans in recent African financial markets—will refinance capital expended on constructing

The financing alleviates initial operational expenditures and enhances DIL’s balance sheet, supporting its continued growth trajectory.

Afreximbank contributed US$1.35 billion, the largest share among participating banks, underscoring its commitment to large-scale infrastructure that advances Africa’s industrialization, energy security, and intra-African trade.

Since operations at the refinery complex began in February 2024, Afreximbank has continued to support the Dangote Refinery by providing key financing solutions—for crude supply and product offtake—ensuring uninterrupted operations and reinforcing its role in Africa’s most significant refining intervention.

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Marketers, Retailers fight dirty as Fuel price nears N1,000 per litre in Nigeria

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Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria.

On Monday, it was reported that the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices.

In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped by N65 per litre to N955 per litre on Monday from N890 dispensed at the weekend.

IPMAN, PETROAN give reasons for fuel price increase:

The latest fuel price hike in Nigeria has been blamed on several reasons, including the fall in global crude oil price, the exchange rate, the Dangote Refinery, and the Depot Owners petrol ex-depot price increase.

While the Independent Petroleum Marketers of Nigeria blamed the exchange rate for the latest fuel price hike, the Petroleum Products Retail Outlets Owners Association of Nigeria blamed Dangote Refinery’s pricing system.

The spokesman of IPMAN and the National President of PETROAN, Chinedu Ukadike and Billy Gillis-Harry, respectively, made these perspectives known in separate interviews on Monday.

Ukadike partly attributed the recent fuel price hike to forces of demand and supply in a deregulated downstream oil industry.

He noted that the latest price adjustment is not unconnected to price reviews at petrol depots and the Dangote Refinery.

“Fuel prices went up due to forces of demand and supply.

Supplying Depots and Dangote Refinery have increased their ex-depot petrol prices.

“The cost of the Dollar is the reason for the price hike for depot owners.

“For Dangote Refinery, I can’t say categorically, but it may not be unconnected to the price of crude oil; you know the plant imports the bulk of its crude oil.

“As of Friday, Dangote Refinery is N858 per litre, NIPCO (N870), Aiteo (855), and Ranoil (N865),” he said.

On his part, Gillis-Harry blamed the Dangote Refinery pricing mechanism for the latest fuel price hike.

“We should be looking at proper fuel pricing because what the Dangote Refinery is doing is not proper pricing,” he said.

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Expectations High For Nigeria’s First Policy Ministerial Quarterly Briefing

In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.

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*Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment

The first three months of the Federal Government’s “Nigeria First Policy” directive ended with stakeholders expecting Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment, to update the business community, especially Nigerian manufacturers on how well the Ministries, Departments, and Agencies (MDAs) have complied with the Patronage of quality made in Nigeria products.

In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.

This policy emphasises the promotion of domestic goods and services, particularly within government procurement and public sector activities.Its core objectives are to strengthen Nigeria’s local industries, reduce import dependence, and accelerate industrialisation through import substitution.

Following the enthusiasm surrounding the policy, the Minister stated during an appearance on Channels TV that her ministry would conduct quarterly performance evaluations of all MDAs based on their adherence to the Nigeria First Policy, emphasising the importance of buying made-in-Nigeria goods and services.

She noted that compliance with the policy will now be integrated into performance metrics for the President’s Central Coordinating Delivery Unit.

Oduwole asserted, “This compliance will be continuously monitored. As a major player in the economy, the government must lead by example by boosting local production and decreasing reliance on imports.

“She outlined three main areas where the policy will be implemented: focusing on local procurement, ensuring that all local options are considered before exploring foreign alternatives, and improving regulatory and bureaucratic processes to support local enterprises.

The Minister expressed that her ministry’s performance aligns with the President’s directives, with the overarching goal of fostering both domestic and foreign investment to enhance productivity, trade, and export growth.

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