₦airaland Forum

Happy New Year to professor Spyder and all the family in the house.

@Qc-1 I bege becareful with that banging thing in Lagos, I hope say you they used 4 rubbers at onces. Waooo, these your project is fast, if I get you right you started on the 8 of Decenber and buy 31 is already these far.
Good job Brabus.

@Hajj mufutau, there in no need to make a U-turn pipe back to his property, it will create enemy of life time with your neighbor. My opinion. It not the neighbor fault is the system that does not as compliance stranded that cause it.

@Brabus you have not show us from your picture illustration the first thing you did to stop or absorb the under ground water, or stop it of getting into the bottom of the foundation. Can you pls tell us what you did in that regard. I mean, when getting to mud water at the bottom of the ground when digging the foundation, before those raft casting.

@Brabus, I will love to see you keep your head straight this time. Down fall of a man is not the end of his life they says. please remember thousands if not millions around the world are whiching every alphabet you strike online. you do not offend me, like you said FALLING SHORT is the word, of many People expectation not only me. I still love your creative idea sha. Try to improve in the aspect of handling contracts, be open to your
Customer let them no the truth when things are going wrong. This is all I can offer you.
Stay bless, and happy New Year in advance.

@Brabus I hope this is a new beginning, merry Christmas to you and your family and happy new year in advance.

@professor Spyder my greeting to you and all nairaland family especially properties section merry Christmas and happy New year in advance, may almighty continue to advance your knowledge in the way to motivate other good Nigerians like you to move our housing sector farword for the benefit of our people stay bless, and have an wonderful Christmas.

Good luck,@junapril am one of those people who loves people with dreams and creative ideas to become a reality. My advice to you, just like I had advices Wumi Allen when she came from USA with her brilliant Idea, very motivated to mobilize people to buy in to her idea without having money her self to invest in her own idea. It is very difficult to convince people to invest in ideas that has higher rates in terms of projects like yours in our present society. It's very difficult to find authentic standard procedure to acquire lands in Nigeria especially in Lagos with that magnitude of the amount of money that will be involved in a lucrative business like that. I will be more than happy to see you as a brain behind the idea to put at least 45% of the total amount that is involved, then I can be encouraged, now that you have committed yourself financially in the project not trying to source from people that already have one or two houses there selves.

In that particular location at monastery road, from the information that I have which can be verified in the surveyors general office in alausa there are at least 3 Lagos state estates that has been air marked for. Namely Grandview estates 25,19 hectares, Idera City 11,29 hectares, Sangotedo court 1,319 hectares of land etc. just to mentioned few, these do not include all small estates that as 5 to 15 hectares along right and left of the road. The other larger land owner on that location is at the front of that right turn by the bus stop which is jokotade. I believe they have about 120 hectares, if you have being there recently you will see that the had stated to work on their land. Please don't let this discourage you in pursuing your dream in that direction, am only saying this to alert you that the journey is not an easy one, without huge amount of money in your bank account from my experience.

@junapril, May I ask where is the exact location on monotesy Rd do you and your partners have these estate. I have a lot of queastion about hundred of acre of land own by omonile around that area. I new these because I and my partners as similar project in the say location which we where issued allocation letter since 2008 and paid all fees over 70millon for the multiple agency's that where involve in the prosidure of govement PPP program, mind you those fees where paid
Since 2010. We still waiting to be issued our globa C of O. Am in Lagos 3weeks ago on the same matter, on that same location. To my believe the only person that as that large land
At location is OBA of Lagos OBA AKINOLU, and him self do not have hundreds of acres I believe he as about 20 acre or less. More to come later.

Imagine what happen to those poor people, again is there any rule of law left in Nigeria of today? How long does it take officially to get C of O in Nigeria. It a shame for Nigeria government after 52 years of our freedom we still don't have any uniformed standard of acquiring land. If government keep failing it people in these regard people will continue to do things in wrong way. Imagine yestday whiching channel tv news nassarawa governor proud to come on national tv and announce his state had just issued 160 C of O when people had apply for them over 20 years ago. It's looks to me there is no any house in that State that really as C of O .

@jamesqu thank for your uplifting to the brother in question, may be you just join these forum. Pls go back and read from similar problem like these one, back 2 or 3years ago. One mistake I could understand to many of the same to me is not an excuse, it's became habit my opinion. I used to love the way he exhibit his creative mind with none education background in building and construction industries came these far with his creative ideal in doing things. To many of the same mistake makes me lost interest and confidence I had in he. My brother I work to hard in snow save money to do things and end up these way, it will be hard on me Oh to do the same thing with same person again oh. This is just my opinion good luck.

@helpee good job my brother. Small world, that was the same Brach of tower aluminum
Where I practice and work as young engineering technician those days making all those tools and moulds they used to produce all the aluminum profiles and entire aluminum product @ technotools and engineering department behind towerex those day. That was over 19 year ago. Thank God that Company give me an good start in life.

@sypder I hope say no bi this BRABUS again trying to get to people with another name on your page sha.

@Spyder if your students are right in their assumption of the size of the rooms in these project, my opinion you may as while make these project an self contained service rooms with each rooms or two with there toilet and kitchen combined for two or three family together.

Na wa Ohoooooooo, brabus again?

@Demain_man, you may be right Oooo, I just left Naija 2 weeks ago to my surprise on
Monday morning on first Avenue in Festac town I saw wonder more then 4 hundred cars in one of the church there I mean Monday morning, I thought it was Sunday Oooo, I have to call home and ask if the day it's Sunday to confirm. I was right it was Monday 7:30 Am. my brothers if you want to make money now in Naija forget all these commercial and residential buildings build church or became Alfa with long bea, you will became millennia in no time. No more factory or new Company in Naija now, na church, and church I mean big once every where Ooooo, I just hope they're paying there taxs.

Welldone Ooooo @Spyder. It great for you to remember our common people. Thanks for your kindness to still have interest of majority of our people in your every day activities.

My oga at top no vese now, am just thinking of the cost of building out there, as a business man. I just land here form naija yesterday I new how much it cost me just to run generator every day for the last 22days, I only had little relive when I left lagos for Abuja for 5days at Asokoro that was the only time I did not run generator. Abuja is not the same Naija as some part of Lagos with traffic an so many crazy drivers all over scratching people cars on daily basis. With such cost I cant imagine investing 7m or more on land and being thinking of rooms may be student hostel, my brother be honest it wont happen with me.

@Spyder when you said single room pls clarified, is going to be one of those age styles of Lagos face me and face you with I better pass my neighbor thing that was going on in naija now . Or modern self contain service apartment every room with it own toilet and kitchen. Can you post the plain for your students to see?

@timothy or waiting be that your name self. You wake 4:am just to tarnish these brother image without you doing proper research in what you posted. If you think every one is like you, you're wrong there are still many good people in we county and Spyder is one of them. If you looking for down fall of men, not these brother. Can't believe you waking these early and that was what came thru your mind to dity some one els job, you most get close to your God. You have serous problem.

@lawyer for almost 4 years now that you have being writing about scams like
These people are still paying those omonile
to marry new wife's and buy new range rover, na waoooo. So the brother can not pay 50k for your service but he can afford 5m for the land
I hope the guy they Naija sha no bi one of us in diaspora, because that loan he toke he will be paying big intrest on it for years to come.

Weldone good job.

Bros just call your pastor with one or two trusted friends and close family members, make madam cook good food for your invited gust, pray in the house and move in
If they want party let them build there own house and throw party, pls used your money for better thing in life.

@lawyer why this late, it as being going on for over 6years now. My brothers am in Naija now to see things for my self again. I will write story about roads in Lagos especially federal roads Lagos badagry express. Na wa ooo I spend two and half hours from Festac to Iyana Iba, I can't imagine me going to Badagry. Men, my intention is to go to Teju royal Gardern Estate to see those land Someone advertise for 5m here on nairaland somewhere at Okoko. if I can't get to Iyana Iba in 2 and half hours when am I going to get to Okoko, in this situation have to turn take Iba road good road less them ten minutes am in Ikoton. My brothers these as nothing to do with Lagos light rail road project, still going on in slow motion Ooo
It just the condition of the federal road.
My brothers in Abuja it compleat diffrect story
Good road almost every where, I don't understand why they can't do same to federal roads in Lagos? This is just the beginning of my story on federal roads around the federation I will try and tour at least 5 state before am back to base. Pls Stay tune for more story.

Thank you, in conclusion me and you agree on that ONE, believing God for a better tomorrow Ameen. We all should start thinking of going back to change things for better generations of Nigerian's to come. God bless our beloved country.

@Cyberknight My brother I fell your pain, @Bugmenot me and you can stay here all day all night trying to prove each other wrong or right but the reality of situation in our beloved country is what @Cyberknight has just explained. We are at the other side of the world earning dollars, that's why we can be talking about property of 15 to 20 million. In reality like the brother just explained, how many of them with an average honest income that can afford those amounts in Nigeria of today? Like the brother just explained school fee for one child is costing him 120k per term, can you imagine if he has 3 kids and he stills has to pay rents. How can he afford to buy a property of 15 Million in situations like that?

@Bugmenot to be honest you're fair with your argument of rent and mortgage, but I disagree with your point. At my opening argument I said properties are one of the most profitable investment for middle income people in the west. You lay down your point but you forget to mention the tax advantage of owning a property. First foremost you are looking at it as an investment, but you have to understand it is also a home where you and your family lay your head every night. Second, it is a shelter which is a right for human endeavor. In US if your endings is up to $70,000 a year it doesn't make any sense in my opinion to rent, mind you renting or buying you still need somewhere to live. In most case the different between rent and buy does not make that much in terms of prices in some location. With my understanding in some isolating locations you may still not be able to afford a home with that income, I do understand that a lot of income in other part of the country may not be as much as that. Here in NYC even with that in income you will need a big down payment to get and descent property in good section of the City. In Nigeria it is very unfortunate for a piece of land in some locations to cost as much as 30 Million Naira (men I hope you guys can convert this to see how much it is in U.S dollars, that's $192,000). With that amount you can use it has a down payment for a 3 family home of 2 bedroom each, that will fetch you an income of an average of $1,800 a month for each of the apartment. Your mortgage will be more than $2,500 a month and mind you, you do not have to take a 30 years mortgage as you mentioned that it will put you in debt for your whole life. A 15 years mortgage could only be about $200 difference from the same amount on the principle payment monthly. Talking of property tax, your property tax should not be more than $8,000 a year depending on the location. You are also building equity on the same property, now you do that math this is just 30 million naira talk less of those homes that cost over 100 million in Nigeria.

I will not buy your argument that's saying government does not provide infrastructure for that citizens should not pay property taxes. I think we can only make changes to this situation if we voted the right people in the government and hold them accountable.
It is just because there are federal Universities and state colleges. Can't we just, make changes to our present federal system? and make our college our colleges and Universities more competitive or even transfer them to party sectors and manage them efficiently with a sound education system. Mostly one can see that most of the institution that is run by the government were the ones that was never efficient. In my opinion I think everything in Nigeria should be privatized except security which should be run by the government.

Were you aware of the federal law that stipulate rent at 30% of household income, so I believe the same formula is used for obtaining a mortgage (I maybe wrong please correct me).


If you look at a home as an investment, I think it will be best for you to look into commercial properties. I can understand locations matters but with those ridiculous prices in Nigerian market if one has those cash here, just for an example if you have 400 million in cash that's about 2.56 Million dollars you can buy a commercial 40 story building in downtown Detroit Michigan that an earn you over 800 thousand dollars rent a year. In conclusion with my argument has far as Nigeria does not have a strong institution that could deal with corruptions sentiments will not stop. @cyberknight I think I will have to agree with some of your arguments because you have experienced both system.
Thank you all.

@All this is very interesting debate about Lands and properties cost in Nigeria. I wish Lawyer make it a first page on these forum. I have read for, and opposing opinions in comparing Nigeria properties as an asset. @bugmenot in that of your opinion properties could easily become a liability in the west. May I ask you some questions in regards to properties that can easily became and liability in the west, first most of people that but those properties can them afford them. In the last 100 years investing in properties is still one of the most profitable investment for middle income people in the West. They have an obligation to pay property taxes for a long time and ensuring long time employments due to commitment to mortgage payment. A property owner in the west can borrow against his property and use the money for other business. I have no idea what part of the west you reside but her in the U.S, particularly State of NY , if you have an opportunity of owning a property in NY. If you go through your monthly mortgage payment you will be very happy to see how your property tax is being used to finance many social welfare programs including your local school district. That is just one of the advantage of running a mortgage type property system, our government don't have to use other government resources to finance education in our country with this mortgage system alone you can eradicate literacy and well financed sound education system in our country. If only we can put better policies to appraise our properties back home in Nigeria.

These are some of the issues why Nigerian properties are so expensive.

First of all, in the last 30 years or since 1978 we have no legislative law that make any changes to Nigerian land act, (If I am wrong please correct me). If one says a property is an assets in Nigeria I will not argue much, but one will look how much money he or she has invested before it became an assets. I can understand most of us has Nigerians are mostly shying away from our Tax obligations. If we don't have any changes in the Land act of 1978 till date in Federal level, with the present one that gave State Governors so much power on their state lands. How are we going to make changes that is going to liberalize our land to be easily accessible without this unstandardized procedure across the country. Sometimes one can not blame investors that invest so much money in acquiring land to put a structure on it. They will like to gain from their investments, so with these prices will not decrease as far as there is a high demands and short supplies. With these government ridiculous fees and rules that make it very difficult for private investors to invest in housing sector in our country. I believe shelters should be a right in our country not a privilege.

Questions people are not asking for most of these government estates especially in Lagos State

I don't know if anyone has been paying attention to some of these government estates or Land allocations in Lagos State which they have earned Millions if not Billions from innocent citizens in the sake of gaining a land allocation in their estate all around Lagos, with nothing to show for all these years. I will mention a few of them (If I am wrong please correct me). I believe many Nigerians have subscribe to some of these lands as far back as 4 or 5 years ago, with money for infrastructures land development convey fees has been paid along with application fee's for over 4 years ago. Most of these estate can only be identify with a sign board on the locations. What happened to those people's money? If the government is so busy taking innocent citizens money in promised return of building beautiful estates across the state and four years later after most of the fee's have been paid and the location still remained what it was 4 years earlier why? Why can't the government subcontract the jobs to private sectors to create jobs for general populace. To me I believe money shouldn't be an issue when people have paid for those services.

Do you want to know who owns those properties ? Look around you. People like governors, ministers, permanent secretary's in government. Bank director and senior managers, etc. I just wrote an article on the same issue two weeks ago. As far as people have access to steal government money, this sentiment will not stop. Many of these so call leaders used to bring their stealing loot to the west, since September 11 2001 it has been very difficult to stanch their money to the west. They used those stolen money now in Nigeria to buy many properties at any cost with no apprise to it value. Any way it stolen money that cant be kept in bank, because they have enough money in the bank already. Only God will save us from these so called leaders and "ogas at the top".

Let him go to AGIS for free window search with copy of the land documents but, may not give him full details . He could do the official legal search report with print out, its cost N10,000 3years ago find out how much it cost now. First of all, go to any GTbank in Abuja ask for AGIS deposit slip, fill the slip with the land information like file number, plot number, and the cadastral zone pay the fee at GTBANK. Take your slip with the land document to AGIS for the search, it a time consuming effort to get the true picture of what you want to buy. This step is just to know authentic, or right full owner of the land.

Second step is to know how much bill the land most as be acuminated since the first owner but it, this is where many people make mistakes. You may buy the land let say 1.8m, but the land may have pending bill of another 2m without you knowing if you don't do statutory right of occupancy bill search. The other way to know these is to ask the first owner to give you the most current up to date print out that shows you that all the bills as being paid.

How much do you want for it, can you post some development around the neighborhood. What documents do you have on the land.