They told Kunle Lagos was the land of gold—“Eko for show,” the city that never sleeps. So, when he got a good deal on a parcel of land in Ibeju-Lekki, he didn’t hesitate. No due diligence. No questions asked. Just vibes.
Three months later, the bulldozers came—courtesy of the Lagos State Task Force. His newly built fence? Gone. His “receipt”? Invalid. That’s when he found out the land was under government acquisition.
Kunle is not alone.
If you’re planning to invest in Lagos State — whether in real estate, retail, logistics, or tech — pause and read this first. These business tips may just save you millions and a lifetime of regret.
1. Never Assume, Always Verify
Lagos real estate is lucrative, but also a legal minefield. Every inch of land has a history. Before you buy:
- Conduct a land search at the Lagos State Land Registry.
- Involve a certified property lawyer.
- Ask for documents like C of O, Governor’s Consent, or Gazette—not just receipts or survey plans.
2. Location Is Not Just About Price
That cheap land near the expressway may come with heavy tolls—literally and figuratively. Consider:
- Future infrastructure plans (some lands are earmarked for road expansion or government projects).
- Flood zones (Lekki Phase 1, for example, has faced major flood issues).
- Proximity to growth zones (like Epe or Alaro City, which have strong prospects).
3. Register Your Business Properly
If you’re doing more than side hustle, don’t wing it:
- Register with CAC (Corporate Affairs Commission).
- Open a corporate bank account — this increases your trust factor.
- Get the right permits or licenses from agencies like LIRS, LASRRA, or NAFDAC (depending on your sector).
4. Budget for the ‘Hidden Costs
What they won’t tell you:
- You’ll pay development levies, agency fees, legal fees, and possibly “youth settlement.”
- There are annual land use charges that kick in post-purchase.
- In real estate, budget an extra 10–20% beyond the asking price.
5. Start Small, Scale Smart
Don’t pour your life savings into a single Lagos venture. Test the waters. Do market research. Rent a shop before buying. Launch a mini online version of your product before opening a store.
Finally: Lagos can make you rich—or ruin you. The difference is what you know before you invest.
Don’t let the hype be your downfall. Let Kunle’s story remind you that in Lagos, ignorance is not bliss—it’s expensive.
Want to invest smarter in Lagos?
Let’s help you navigate the system, avoid traps, and grow profitably.
Send a message now to book a free 15-minute strategy call.
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I give professional real estate advice, negotiate and help smart investors make profitable real estate investments for high ROI, thereby creating wealthy landlords. My ultimate goal is to help you achieve your property investment portfolio goals. If you found this article helpful, don’t forget to comment, like, share, and subscribe to our YouTube channel for more insights!
