Buying land in Nigeria is quite simply one of the best financial moves you can ever make, trust me, I know. 

You may want to build your dream home or set up a business or even buy land for investment purposes. Land signifies security, independence, and upward financial mobility. But buying land in Nigeria can be very tricky if you do not know what to look out for and like every smart business, you need to have a low down on the kind of business you are about to get into and that’s where I come in. I’m happy to help. 

This article breaks down the five essential points to consider before acquiring any piece of land in Nigeria and also demystifies the important steps, terminologies, and pitfalls to avoid.

1. Understand Land Ownership Titles

If planning to purchase a land plot in Nigeria, understanding the various ownership titles applicable to the said land is vital. Such documents serve as proof of ownership and protection from disputes or potential legal issues in the future. Below are some of the most common ownership titles.

Certificate of Occupancy (C of O): 

C of O is a legal document that is generally issued by the government confirming ownership rights for a specified period, normally 99 years. It is also one of the most important documents that you should check when buying land for purchase. 

Deed of Assignment: 

This is a legal document for the transfer of ownership of land from one person to another. It indicates ownership rights were transferred to you by the seller. 

Survey Plan: 

A Survey plan actually gives you a detailed outline or maps of land together with its location and boundaries all over its size. This is important so that within the land so to be purchased, it should not fall into government-designated areas such as roadways or waterways. 

Governors’ Consent: 

In Nigeria, no land transaction is considered valid without the consent of the state governor. This also indicates that the sale, in fact, has the approval of the government.

Pro Tip: Before any payment is done, make sure to verify the authenticity of these documents with the land registry.

2. Location, Accessibility, and Infrastructure

One of the main indices in determining the value, usability and future appreciation of your land is its location.

Key Factors to Consider:

• Distance from Urban Areas: for a price, lands that are farther away from cities or business hubs are rarely very pricey but still don’t have much potential for appreciation.
• Accessibility: The area must have good roads and easy accessibility by transport..
• Infrastructure Development: be sure to look for areas that have existing or planned infrastructure like schools, hospitals, markets, and power supply. These infrastructures play a key part in the lucrativeness of a land.

Here’s a helper:

If you are looking for land with the above considerations factored in its procurement,  let me recommend Mixta Africa. 

They offer landed properties, emphasizing convenience, accessibility, and growth. Whether it is residential or commercial plots, Mixta Africa has something great for you.

3. Verify the Land’s Ownership and History

Checking the history and ownership of land is one of the most important steps in the process of buying. Below is a list of steps on how to avoid incidents of fraud:

Conduct a Land Search:

Go to the state land registry and check the land ownership records and understand if it is under a government acquisition or if it is tied to ongoing disputes.

Meet the Community Leaders:

If it is a piece of land sold by local communities or families, talk to the community heads or chiefs to confirm the authenticity of the land.

Check for Encumbrances:

Ensure that the land is clear of legal claims or liabilities such as unpaid mortgages, taxes, or disputes.

With Mixta Africa, you have no worries about the verification process. All their properties come with clear titles and are thoroughly checked out to give zero encumbrances whatsoever.

4. Budget Beyond the Land Price

When budgeting for land, remember that the cost of the plot is just one part of the equation. There are several additional expenses to consider:

When planning to buy land, it is important to note that the cost of the land is but a fraction of the total expense.  Many additional expenses are included, such as 

Survey and Documentation Fees:

Additional payments will be required for the survey plan, deed of assignment, and other legal documents.

Development Fees:

Most estates levy development fees that cover outlays on infrastructure such as roads, drainage, and security. 

Agency Fees:

If the real estate agent manages the sale, the agency fees will also need to be included in the budget too: it’s usually 5-10% of a sale price. 

Building Costs:

If the plan is to develop the land almost immediately, that anticipates the budget to include building costs for construction, labor, and materials.

Mixta Africa’s Flexible Payment Options:

Some agencies offer flexible payment options. While I can’t categorically speak for the rest, I can speak for  Mixta Africa seeing as I have a history with them in terms of land businesses  

They have easy and convenient payment plans that are tailored to fit your pocket. So in essence, money isn’t a setback at all. 

5. The Importance of Land Investment Planning

Many people buy land and think it is a transaction they just did. However, land buying is even more. Rather, it is an investment and just like any other investment, to maximize its gains, one must have a fairly substantial plan. I have listed a few below. 

Define Your Goals:

Are you planning to buy for personal purposes or resale or rental income? The requirements will determine where and what kind of land to buy.

Consider and Anticipate Future Trends:

Find out how much growth the area holds in store. Quite a number of times after government projects or new roads and adjacent developments have come up, they will have made huge differences in the value of the land within the area.

Seek Professional Advice:

Talk to real estate professionals who understand what happens in the property market regarding trends and investment strategies. Check the end of this article for contact details of experts who can help with professional advice.

Key Terminologies to Know

Gazette:

A gazette is an official document, which contains land within a particular area declaring it an area free from government acquisition. It is safe to buy any piece of land from a gazette.

Excision:

This is a process through which the government releases land back to the community or family. Lands with excision are safe for purchase.

Deed of Sublease:

This legal document is used when the owner of the land transfers its leasehold rights to a third party.

Land Use Act:

It is a land ownership and management law in Nigeria. The law says that all lands belong to the government.

Why do I recommend Mixta Africa For Land Purchases?

Like I said earlier, my journey in land investment took an easy turn when I got to know about Mixta Africa. 

They take the hassle out of precisely buying land. Below, is  why I consider them to be the best in the business:

Verified Properties: All lands are with original titles and are totally unencumbered.

Strategic Locations: Their properties are placed in areas with good growth potential and adequate infrastructure such as Lagos New Town, the fastest-growing corridor in Lagos State. 

Flexible Payment Plans: Customized payment options are made available depending on your budget.

Expert Guidance: From land selection to documentation, they offer you assistance at every stage.

Explore their diverse land offerings and start your journey to land ownership today at Mixta Africa.

Final Thoughts

Buying land in Nigeria can prove to be lucrative as it is done the right way. From understanding ownership titles to verifying the history of the land, correct budgeting, and future planning can enable you to be confident and informed in decision-making. 

You don’t just dream about it, take the first step toward your future with Mixta Africa, where land ownership becomes simple, secure, and accessible.

 After all, there’s really no bad time to invest in land!

Author’s Note: Hi, I’m Joy – a seasoned finance professional based in Lekki, Lagos. I balance a fulfilling career with successful real estate investments in Nigeria. Join me as I share insights on navigating the world of real estate investments in Nigeria. Let’s find your dream home and unlock financial success together!