Nigeria: Real Estate

Lagos faces a severe housing crisis with 3.4 million homes needed, but the solution is blocked not by lack of land or demand, but by Nigeria's Land Use Act of 1978. This legal framework has created a consent regime where fewer than 5% of land parcels are formally titled, leaving property owners in years-long battles to prove ownership and transforming land into "dead capital" that cannot be mortgaged or developed. The article examines how this constitutional bottleneck, combined with mortgage rates up to 28

In Lagos State, a foreigner can lawfully acquire an interest in land, but the transaction must be structured properly and comply with the applicable legal and regulatory rules.

Like any other investment, buying a landed property in Nigeria comes with risks. Yet, it remains one of the most rewarding investments if done right and with the right professionals.