I recently bumped into a childhood friend who I hadn't seen for almost two decades but unfortunately, after a couple of minutes catching up on old times with all the excitement of an unexpected reunion, he nearly broke down in tears when he began to narrate the unpleasant situation he currently finds himself. He had just received a notice from the government that his house and every other within his vicinity has been marked for demolition as it's a committed land under government acquisition. What this means is that he's about to lose his house (investment) where he's lived for over 5 years at a time he can't even afford to rent a place let alone build another.

His story is not different from so many others who have invested their hard-earned money in the ever lucrative world of real estate only to later discover they are unfortunate victims of illegitimate transactions. According to the Land Use Decree of 1978, ALL lands in the state are under the control of the state government even though it gives out some portion to the traditional dwellers of the communities (omo-onile) to do whatever they please. Lands not given out to the omo-oniles are either 'merely' under the acquisition of the government or committed. If a land is 'merely' under government's acquisition, people in similar situations as my friend can qualify for Ratification/Regularization to save their property from demolition but if it's a committed land, there's absolutely nothing that can be done because these lands have been set aside specially by the government for projects such as roads, bridges, housing estates,etc . It does not matter how long you've owned that property or how much you've spent developing it, when the government decides to make use of it's land, nothing stops them.

Stories such as these does not change the fact that real estate will forever remain one of the most lucrative investments in the world with a huge percentage of the world's billionaires directly involved in it. It is a powerful investment tool for anyone seeking financial independence or freedom but the major problem potential investors face is usually lack of adequate information. You should understand that one of the major advantages of a true real estate investment is that profit is made when you buy, not when you sell so before you buy that property (Land or House),you must have a very clear objective of what you intend to do with it and a budget to match.Then, you must make sure you have enough experience in the purchase of properties that will ensure you have a successful transaction and a deserved peace of mind forever. If you're not fully convinced you have enough experience, I advise you contact a trusted and experienced Real Estate practitioner who will guide you, one you're sure has your best interest at heart (Yes, we exist!). A trusted Realtor on your side has enormous advantages: Offers you advice that will help you achieve your goals&objectives, Assist in making the best choice of location for your intended property within your budget, will be involved in negotiations, has the experience and reach to ascertain and verify genuineness of documents, etc . A Realtor with your best interest at heart is your security guarantee. Do not fail to ask questions and seek clarifications on processes you do not understand. Conduct a "mini-interview" if you must as this will not only help you make better decisions in future but will prove he/she has your best interest at heart.


Owning a property is a necessity and a luxury. Think property, think real estate, think quality investment.


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