₦airaland Forum

Good afternoon, Nairaland Family!
PropertyQuestNG here, your trusted real estate lawyer.
Let me educate you on 5 important real estate facts:
1. LAND USE ACT 1978
What it means:
• ALL land in Nigeria belongs to the STATE GOVERNMENT
• You don't own land, you only have "right of occupancy."
• Maximum lease period: 99 years
• Government can revoke your land (with compensation) for public use
Practical Meaning: Even with documents, the government has final say on land usage!
2. TYPES OF LAND TITLES IN NIGERIA 📋
a) Certificate of Occupancy (C of O)
• Issued by the State Governor
• Valid for 99 years (renewable)
• Strongest title in Nigeria
• Most expensive to obtain
b) Governor's Consent
• Required when you buy land from someone
• Confirms the government approves the transfer
• Without it, your sale is technically invalid!
c) Deed of Assignment
• Legal document transferring ownership
• Must be registered at the Land Registry
• Shows chain of ownership
d) Survey Plan
• Shows land boundaries and coordinates
• Must be prepared by a licensed surveyor
• Must be registered at the Land Registry
All 4 documents = Complete title!
3. SETBACK REGULATIONS 🏗️
What is a setback? Space you MUST leave between your building and:
• Road/street
• Neighboring properties
• Your own fence
Standard Lagos Setbacks:
• Front (facing road): 6 meters
• Sides: 3 meters each
• Back: 3 meters
Why it matters: The government can demolish buildings without proper setbacks!
4. BUILDING APPROVAL IS MANDATORY ✅
Before constructing ANY building, you MUST obtain:
• Building Plan Approval from Local Government
• Development Permit
• Environmental Impact Assessment (for big projects)
Building without approval = Illegal structure!
Consequences:
• Fines
• Stop-work order
• Demolition
• Cannot obtain C of O
It's cheaper to get approval than face demolition!
5. PROPERTY TAXES IN NIGERIA 💰
When you own property, you pay:
a) Land Use Charge (Annual)
• Replaces old tenement rates and ground rent
• Based on property value and location
• Varies widely by area
b) Capital Gains Tax
• When you sell property for profit
• 10% of the gain
c) Stamp Duty
• On property documents
• Varies by transaction value
Failure to pay = Property can be sealed or auctioned!
BONUS: COMMON REAL ESTATE TERMS 📚
Omo Onile = Traditional landowners/area boys who claim land ownership
Omonile Levy = Unofficial payment to local community (varies greatly!)
Family Receipt = Acknowledgment that family sold land (not legal title!)
Gazette = Official government publication (for acquisitions, laws, etc.)
Excision = Government releasing land back to original owners/community
Free from Government Acquisition = Land not earmarked for government use
KEY TAKEAWAY: 🎯
Real estate in Nigeria requires:
• Proper documentation
• Government approvals
• Annual payments (taxes/levies)
• Understanding your rights and limitations
Ignorance is expensive! Learn before you invest!
YOUR QUESTIONS!
💭 What real estate term confuses you? 💭 What topic should I explain next? 💭 Do you have a C of O or just a Deed of Assignment?
COMMENT BELOW!
Need Real Estate Advice?
WhatsApp/Call: 0903 339 3000
Free consultation available!
PropertyQuestNG 📌 propertyquestion.net
Knowledge is power in real estate! 💪
DROP YOUR QUESTIONS! LET'S LEARN TOGETHER!

This info is an eye opener

There is this this man that I want to buy half a plot of land from in Ogun State. He said the papers are intact. Do sellers agree to give you papers to verify before making payments?
I'm feeling he wants me to make full payment before I get to see the papers. What do I do?

Please do not initiate any transaction until all documents have been cited and verified by yourself and a property lawyer. For further explanation message me directly on whatsapp 09033393000

Wealthyonos:
There is this this man that I want to buy half a plot of land from in Ogun State. He said the papers are intact. Do sellers agree to give you papers to verify before making payments?
I'm feeling he wants me to make full payment before I get to see the papers. What do I do?