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Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? - Business - Nairaland

Nairaland ForumNairaland GeneralBusinessWhy Do Nigerians Wait Until They Have Millions Before Thinking About Land? (5232 Views)

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Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by skytechola2020(op): 11:18pm On May 28
This is something I’ve always found interesting.

Ask the average Nigerian if they would like to own land and the answer is almost always:

“Of course.”

But ask them when they plan to start, and you’ll often hear:

“When I have enough money.”

The question is:

How much is enough?

For many people, “enough money” means millions of naira.

So they postpone the idea year after year while focusing on other responsibilities.

The problem is that land doesn’t wait.

A plot that sold for ₦500,000 years ago may now cost ₦5 million or more.

The person who was waiting for ₦500,000 is now trying to raise ₦5 million.

Then before they know it, that ₦5 million property becomes ₦10 million.

And the cycle continues.


Is waiting really helping people?

Let’s be honest.

Most people don’t build wealth by waiting until they have everything.

They start somewhere.

A business starts small.

A house is built block by block.

Even savings grow over time.

Yet when it comes to land, many people believe they must have the full amount before taking any step.

Meanwhile:

* land prices keep increasing,
* development keeps happening,
* opportunities keep moving,
* and years keep passing.

Maybe the issue isn’t that Nigerians don’t want land.

Maybe the issue is that many people believe ownership is only for people who already have millions.

What do you think?

Why do Nigerians wait until they have millions before thinking about land?

Is it:

* lack of trust?
* fear of scams?
* low income?
* lack of awareness?
* or the belief that ownership must always be all-or-nothing?

I’d like to hear your thoughts.

Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by SamuraiXXX: 12:23pm On Jun 02
No be to just buy land, make sure a buy a land that has clean title that is in a good location, not the one in the thick forest in the middle of nowhere!
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by lecowas: 10:32am On Jun 03
SamuraiXXX:
No be to just buy land, make sure a buy a land that has clean title that is in a good location, not the one in the thick forest in the middle of nowhere!
Give it years, even the one in "thick forest in the middle of nowhere" will eventually turn to be a city. Do not despise the days of little beginnings
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by upower123(m): 10:32am On Jun 03
Land problems many...so you need money to solved it..if you buy without building it ..that na another problem
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Kobicove(m): 10:32am On Jun 03
Na who don chop belleful dey buy land grin
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by drlaykay(m): 10:32am On Jun 03
Don't buy land in Nigeria when you are not ready to develop it.
It ends in tears most times
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Nigerianxpress: 10:33am On Jun 03
People don't want government tearing down thier properties when its now time to reap their profits and benefits. This happens more often than you think
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Meerahbel: 10:34am On Jun 03
It's in remote areas you would see land less than 500k. Currently in Delta State Oshimili North in Ukala to be precise, land is going for less than 100k but I tell you something, there's a dry sea port currently on the table of the Delta State Government and Ukala would be the dry sea port. People don't know this yet.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by ceejay80s(m): 10:35am On Jun 03
how U wan buy the land if I no get millions,
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by ARISHEM: 10:36am On Jun 03
Depending on what you want to use that land for. And everyone wants to complete what they started if the land is meant for building and construction purposes
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by manuelkel(m): 10:45am On Jun 03
lecowas:
Give it years, even the one in "thick forest in the middle of nowhere" will eventually turn to be a city. Do not despise the days of little beginnings
I don't know how people comment insensitively, one said #500k is too small for a sowing business establishment. Nigerians are really greedy, they easily despise little beginnings because they take it common. Every billionaire family on earth started from little beginnings. People are too daft to understand that there's beauty in little beginnings.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m):
For some people it is not about money, it is about the geniunety of lands in Naigeria, most times it is either it is a scam, land disputes or one's property will be demolished. I am not even talking about the extortion by the so called community boys, i have had problems with a particular community or is it village in Anambra where it doesn't matter what you want to build, repair or refurbish in your house they would turn up with violence, guns and machete threatning to demolish your hard earned property unless you pay them at least 500k or more.

Besides, the above i have learnt that land buying and selling is one of the most honest and good way to become rich in Naigeria, the few that i bought over the years for 500k, 600k, 1m, and 1.2M i sold for between 4.5M and 6M naira recently. When i was buying these lands my family said oh! These lands are inside that development would never reach there, i answered, every land on the main street was inside at one point many years ago. The idea is to buy these lands and develop the area to become main streets. When i was selling these lands they were all amazed at how much the lands increased in values they were even the agents helping me sell these lands.

I would love to keep buying, developing and selling but i don't want these extortions, violence and demolishing of one's hard earned houses or grabbing of lands, scams and disputes.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by qtx(m): 10:49am On Jun 03
Buy a piece of land in a safe village not too far from very big cities and business areas. Make sure you have the necessary papers at least, even if not C of O yet, get the others for now. Even if the place is a village bush, don't worry; go there and keep sand there, be laying the blocks from time to time , start small. With your presence on the land and good relationship with the residents, you can be sure omonilays will not go there bc the people will protect it in your absence. Give it some years later while builidng, and u will own a house like play. Don't wait. house rent now no be joke o
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m): 10:56am On Jun 03
manuelkel:
I don't know how people comment insensitively, one said #500k is too small for a sowing business establishment. Nigerians are really greedy, they easily despise little beginnings because they take it common. Every billionaire family on earth started from little beginnings. People are too daft to understand that there's beauty in little beginnings.
Absolutely, it is the get rich quick mentality that is causing it.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Emeskhalifa(m): 11:01am On Jun 03
If you can't develop it almost immediately, do not tie your money down in buying of land. Trust me you will learn the hard way and they will tell you to go to court coz they know chances of you wining at the court is slim
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m):
qtx:
Buy a piece of land in a safe village not too far from very big cities and business areas. Make sure you have the necessary papers at least, even if not C of O yet, get the others for now. Even if the place is a village bush, don't worry; go there and keep sand there, be laying the blocks from time to time , start small. With your presence on the land and good relationship with the residents, you can be sure omonilays will not go there bc the people will protect it in your absence. Give it some years later while builidng, and u will own a house like play. Don't wait. house rent now no be joke o
Yes, but i am guessing you are talking about in Lagos from your assertions. I am very aprehensive of buying in that location. These omo onilays people i wouldn't have the patience to not unlive someone if they dare my land or property ,so i avoid that location stricly. Because they will surely interfere with your land regardless and believe it or not there are no kinda of C of O one would have they can still grab one's land.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by qtx(m): 11:28am On Jun 03
LordLicifer:
Yes, but i am guessing you are talking about in Lagos from your assertions. I am very aprehensive of buying in that location. These omo onilays people i would have the patience to not unlive someone if they dare my land or property ,so i avoid that location stricly. Because they will surely interfere with your land regardless and believe it or not there are no kinda of C of O one would have they can still grab one's land.
Lol. I got you. But it mustn't be Lagos , I don't know which city you are in, if not for insecurity bedeviling our dear country now near any state capital will be fine like Ogun state side, etc.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Ibadanfarmroad: 11:36am On Jun 03
I bought a land for 200k in 2018, it’s now being priced for 15 million
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by AdUlAM(m): 11:41am On Jun 03
People like the op are the problem we have in this country... Instead of saying the truth, you are trying to change the narrative. Which reasonable land can one get with less than a million naira in Nigeria today? Before apc and Tinubu came into power only God knows the kind of land you'll want to buy to shell out a million naira even in the f.c.t. Stop making it look as if our head is no longer functioning.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m): 11:53am On Jun 03
qtx:
Lol. I got you. But it mustn't be Lagos , I don't know which city you are in, if not for insecurity bedeviling our dear country now near any state capital will be fine like Ogun state side, etc.
grin It doesn't matter to me where as long as it is in Nigeria, as said, i don't have the calm and patience to tolerate intimidation, land grabbing or unercerssary extortions. I am happy to pay land and property taxes, or any legitimate taxes and contributions on the lands but i am not prepared to stomach any other kinda nonsense. I might try Ogun state. You are also right to mention insecurities.

Also do you agree that it doesn't matter what kinda C of O one has their land can still be grabbed or interfered with?
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m): 11:56am On Jun 03
Ibadanfarmroad:
I bought a land for 200k in 2018, it’s now being priced for 15 million
What?! Holy money!! I don't doubt you but the only way to find out if really it is worth 15milla is to sell otherwise you couldn't tell how much it is worth.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by AKWATGOLD1(m): 11:58am On Jun 03
This your illustration is applicable to white collar job people while the artisans: technicians, mechanics, drivers etc has acquired so many land by paying small small to the buyer.
skytechola2020:
This is something I’ve always found interesting.

Ask the average Nigerian if they would like to own land and the answer is almost always:

“Of course.”

But ask them when they plan to start, and you’ll often hear:

“When I have enough money.”

The question is:

How much is enough?

For many people, “enough money” means millions of naira.

So they postpone the idea year after year while focusing on other responsibilities.

The problem is that land doesn’t wait.

A plot that sold for ₦500,000 years ago may now cost ₦5 million or more.

The person who was waiting for ₦500,000 is now trying to raise ₦5 million.

Then before they know it, that ₦5 million property becomes ₦10 million.

And the cycle continues.


Is waiting really helping people?

Let’s be honest.

Most people don’t build wealth by waiting until they have everything.

They start somewhere.

A business starts small.

A house is built block by block.

Even savings grow over time.

Yet when it comes to land, many people believe they must have the full amount before taking any step.

Meanwhile:

* land prices keep increasing,
* development keeps happening,
* opportunities keep moving,
* and years keep passing.

Maybe the issue isn’t that Nigerians don’t want land.

Maybe the issue is that many people believe ownership is only for people who already have millions.

What do you think?

Why do Nigerians wait until they have millions before thinking about land?

Is it:

* lack of trust?
* fear of scams?
* low income?
* lack of awareness?
* or the belief that ownership must always be all-or-nothing?

I’d like to hear your thoughts.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Titusolufemi(m): 12:00pm On Jun 03
I wonder how this ur write up will help a common man.
I waiting to see where you will propose buying of land on instalment (if it's possible)

I wanted to buy a land too in my area and the least price is #700k but I don't have that now so what do you suggest I do.
Won't I wait until the money at hand can buy it before I buy.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Negroid001(m): 12:11pm On Jun 03
If I was earning the same thing I'm earning now 2018. I for don buy land for sangotedo plenty.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Ibadanfarmroad: 12:22pm On Jun 03
LordLicifer:
What?! Holy money!! I don't doubt you but the only way to find out if really it is worth 15milla is to sell otherwise you couldn't tell how much it is worth.
i didnt say it is worth 15 million naira, I said it’s being priced for 15 million naira, people are pricing and willing to pay 15 million but I always tell them 35 million just to scare them away because I don’t want to sell it.i just bought another one for 950k I hope development comes to the part of the community the price will still skyrocket, in this same community lands that were sold for 600k in 2021 is now worth 5 million naira.
Welcome to Benin city, edo state.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Ibadanfarmroad: 12:26pm On Jun 03
Titusolufemi:
I wonder how this ur write up will help a common man.
I waiting to see where you will propose buying of land on instalment (if it's possible)

I wanted to buy a land too in my area and the least price is #700k but I don't have that now so what do you suggest I do.
Won't I wait until the money at hand can buy it before I buy.
which area, I would love to buy one.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by LordLicifer(m): 12:27pm On Jun 03
Ibadanfarmroad:
i didnt say it is worth 15 million naira, I said it’s being priced for 15 million naira, people are pricing and willing to pay 15 million but I always tell them 35 million just to scare them away because I don’t want to sell it.i just bought another one for 950k I hope development comes to the part of the community the price will still skyrocket, in this same community lands that were sold for 600k in 2021 is now worth 5 million naira.
Welcome to Benin city, edo state.
35? I don't doubt that either. You know? Years back around 2012 lands were sold for 200 and 300k, i didn't buy at the time because i was worried i would lose the land as i am not from and don't live in the location. (Asaba and Benin)
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by ijayebonyi(f): 12:38pm On Jun 03
Not really that they wait till they have millions, they wait to get money to buy land and process everything about the land and still left with little to feed on
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by qtx(m): 1:00pm On Jun 03
LordLicifer:
grin It doesn't matter to me where as long as it is in Nigeria, as said, i don't have the calm and patience to tolerate intimidation, land grabbing or unercerssary extortions. I am happy to pay land and property taxes, or any legitimate taxes and contributions on the lands but i am not prepared to stomach any other kinda nonsense. I might try Ogun state. You are also right to mention insecurities.

Also do you agree that it doesn't matter what kinda C of O one has their land can still be grabbed or interfered with?
You are right. It’s just because the laws in Nigeria are only powerful enough to catch the weak but too weak to catch the strong. If not, a C of O is a document you have to preserve your land from any such, but Nigeria is another kind of country.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by TheStoriesOfMan: 2:05pm On Jun 03
Meerahbel:
It's in remote areas you would see land less than 500k. Currently in Delta State Oshimili North in Ukala to be precise, land is going for less than 100k but I tell you something, there's a dry sea port currently on the table of the Delta State Government and Ukala would be the dry sea port. People don't know this yet.
I know about the proposed dry sea port in Ukala. One chief wants to see his land for 200k. I dey plan buy better land sef.

No put your mind say sheriff go do am. Maybe if another Delta North governor will oversee the project.
Re: Why Do Nigerians Wait Until They Have Millions Before Thinking About Land? by Meerahbel: 3:40pm On Jun 03
TheStoriesOfMan:
I know about the proposed dry sea port in Ukala. One chief wants to see his land for 200k. I dey plan buy better land sef.

No put your mind say sheriff go do am. Maybe if another Delta North governor will oversee the project.
Baba forget it, it's what's the FG and State governments would be doing irrespective of who's the next governor. There's one already in Ugbolu after Asaba, the next place is Ukala. currently you can get a plot for N10m naira in Ugbolu even neighboring two Akwuku-Igbo a plot is going for N5m and a friend bought an acre (8plots) 6 yrs ago for N4.5m.
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