Most investors and some agents confuse these two terms. They use them interchangeably, which is not meant to be because they do not mean the same thing.

So, what exactly does Government Acquisition mean?

We have mentioned several times on our page that according to the Land Use Act of 1978, all land in the state is vested in the Governor of the state, who then administers it to the citizens accordingly.

This means that either there is a proposed Government project for the land or not, the land remains Government Property.

However, when there is no specified proposed public project intended for the expanse of land, then the land is said to be Government Acquisition or General Acquisition Land.

Understand clearly that the situation here is when there is no SPECIFIED PROPOSED PROJECT and the land is just marked out as Government Acquisition.

In this case, investors can apply for ratification after purchase.

Now, let's talk about Committed Acquisition.

In this case, the Government has earmarked a particular parcel of land for a specified proposed public project.

Let's say "proposed Ibeju Lekki General Hospital" or " Proposed Lagos State College of Education"

The land has been named for a specific project. You should not buy such land because when you do, you are simply putting the Government in a position to either alter their plan or remove whatever structure you put up. Do we need to remind you that the former is usually prioritized over the latter?

Finally, there comes the question, how would you know if a land you want to buy falls in either of the two categories.

It's simple, conduct a complete property verification to find out.

Are you asking how?

Engage FloraHomesGC for your property verification.

Did you say How again?
By sending a message to +2348094442019


Follow @FloraHomesGC for more updates on property verification, title perfection, and futuristic mouth-watering real estate investment deals anywhere within Nigeria.

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WhatsApp support: +2348094442019
Media: @FloraHomesGC
Website: www.FloraHomesGC.com
FloraHomes Global Consult Ltd.
Property Verification and Real Estate Investment Company located in Lagos, Nigeria. We work across every State.

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