Frequently Asked Questions

When purchasing land or property in Nigeria, you should verify and obtain the following key documents: Certificate of Occupancy (C of O) — the strongest title document issued by the state government; Deed of Assignment — transfers ownership from seller to buyer; Survey Plan — confirms the exact location and boundaries of the land; Governor's Consent — required whenever property changes hands under the Land Use Act; Approved Building Plan (for built structures); and a Receipts/Proof of Purchase history.

A Certificate of Occupancy (C of O) is the highest and most recognized land title document in Nigeria, issued by the state government. Under the Land Use Act of 1978, all land in Nigeria belongs to the government, and a C of O grants you a statutory right of occupancy — effectively the strongest form of legal ownership available. It is critical because it protects you from land grabbers ("omo onile"), enables you to use the property as collateral for bank loans, makes resale significantly easier, and serves as definitive proof of legal ownership in any dispute.

Property fraud is a serious concern in Lagos. Here's how to protect yourself: Conduct a title search at the Lagos State Land Registry to confirm the seller is the true owner. Verify the survey plan with the Office of the Surveyor General. Engage a licensed estate surveyor or solicitor for due diligence. Physically inspect the property — never buy sight unseen. Watch for red flags like prices that are far below market value, sellers who rush you, multiple people claiming to own the same land, and refusal to provide original documents.

Many buyers are surprised by the additional costs beyond the purchase price. Plan for: Legal/Solicitor Fees (typically 5–10% of the property value); Agency/Agent Commission (usually 5–10%, sometimes split between buyer and seller); Governor's Consent Fees (assessed by the Lagos State Government); Capital Gains Tax (currently 10% on profit for sellers); Stamp Duty; Survey Fees; and Building Inspection Fees for existing structures. In total, budget an additional 15–25% on top of the purchase price to cover all transaction costs.

Yes, mortgages are available in Nigeria through Primary Mortgage Banks (PMBs), commercial banks, and the Federal Mortgage Bank of Nigeria (FMBN). The FMBN's National Housing Fund (NHF) scheme is popular and offers lower interest rates for contributors. However, mortgage penetration in Nigeria remains low due to high interest rates (typically 15–25% per annum), strict eligibility criteria, and limited property title documentation. Most Nigerians still use personal savings, installment payment plans directly with developers, or cooperative society funding. If you are a formal sector employee, the NHF scheme is worth exploring.

Under Nigeria's Land Use Act, all land technically belongs to the government — so what you own is a right of occupancy rather than absolute freehold in the Western sense. That said, here's the practical distinction: Statutory Right of Occupancy (granted by the state government, evidenced by a C of O) is the strongest and most permanent form of title, typically for 99 years and renewable. Customary Right of Occupancy (for land outside urban areas, granted by local governments) is less secure. Leasehold arrangements are also common, where you hold the right to use a property for a defined period (e.g., 25, 50, or 99 years) under a registered lease agreement. Always clarify the nature of the title before purchasing.

Off-plan property can be an excellent investment — you typically buy at 10–30% below the completed market value, and payment plans are often more flexible. However, it carries significant risks: construction delays, developer insolvency, quality differences from the brochure, and changes to the surrounding area. To invest safely: research the developer's track record thoroughly; insist on a formal purchase agreement registered with the Land Registry; verify that the land title and building approvals are in place; and never pay 100% upfront without staged milestone payments tied to construction progress.

Lagos's property market varies significantly by location. High-end, established areas: Ikoyi, Victoria Island, and Banana Island — premium luxury, strong rental yields, but very high entry prices. High-growth corridors: Lekki Phase 1 and 2, Ajah, and Abraham Adesanya — strong capital appreciation, active demand from young professionals and families. Emerging/value areas: Epe, Ibeju-Lekki (especially near the Dangote Refinery and Lekki Deep Sea Port), Ikorodu — lower entry prices with significant long-term upside as infrastructure develops. Mainland opportunities: Magodo, Omole, Ojodu-Berger, and Surulere — more affordable with stable demand.

Absolutely — Nigerians in the diaspora have the full legal right to purchase property in Nigeria, and many do so as a way to invest, plan for retirement, or maintain a home. The key adaptations for remote purchases are: appoint a trusted Power of Attorney (POA) holder in Nigeria to sign documents on your behalf; engage a reputable agent (like Dynamic Properties) who can provide transparent updates, verified documentation, and video walkthroughs; insist on only dealing via official bank transfers to traceable accounts — never send money via informal channels; and use a registered Nigerian solicitor to review all agreements.

Transaction timelines in Lagos vary depending on the complexity of the deal and the title type. A straightforward cash purchase of a property with an existing C of O typically takes 4–8 weeks from agreement to completion. The key stages are: offer and acceptance (1–3 days), due diligence and title verification (1–2 weeks), drafting and signing of Deed of Assignment (1 week), payment and receipt of title documents (1–2 weeks), and processing of Governor's Consent (which can take 3–6 months through the Lagos State Government, though your solicitor can initiate this after completion). New C of O applications can take 6–18 months.