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The Ongoing Demolitions in Lagos; Important Lesson for Investors and Realtors in Abuja

1.0 INTRODUCTION

The not too recent events in Lagos, particularly the demolition of houses, have sparked concerns and raised questions among Nigerian citizens, particularly residents of Lagos State. The primary questions revolve around whether the demolitions are politically motivated, or is it a result of the failure of real estate companies to conduct due diligence? Or is it the fault of residents who failed to verify property details before construction?

According to the Lagos State government, the demolitions were targeted at buildings erected on drainage channels in Lekki Phase 2 and similar areas, aiming to address perennial flooding issues. These developments in Lagos, particularly the demolition of houses, have prompted Nigerian citizens, especially those eyeing real estate investments in Abuja, to reassess the complexities surrounding land acquisition.

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The aforementioned questions about political motivations, due diligence failures, and individual responsibilities have not only emerged, but speculations and permutations by realtors as regards the direction the current Minister of the F.C.T is going which is positive as regards the development and upgrade of the Abuja environment, hence, underscoring the need for a strategic approach.

This article explores the implications of these events and highlights key steps that potential land buyers in Abuja can take to navigate the complex landscape of land acquisition, ensuring they follow laid-down laws and due diligence processes to avoid becoming victims of future demolitions.

Furthermore, this article aims to ensure readers, investors and future realtors draw insights from the Lagos situation and get offered, guidance on key steps to secure their investments and navigate the landscape of property acquisition.

 

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2.0 UNDERSTANDING THE LAGOS SITUATION

The Lagos State government claims that the demolitions were a necessary response to the threat posed by perennial flooding during heavy downpours. This raises critical questions about the responsibilities of various stakeholders, including the government, real estate companies, and individual property owners. While the government asserts that the demolitions were targeted at specific areas and structures, concerns persist about the potential political motivations behind these actions.

The Lagos State Government in one of its public interviews insisted that it would not be selective in applying the law in the demolition of illegal structures at Lekki Phase II and environs.

 

2.1 Applying Lessons In Abuja

As potential land buyers in Abuja, it is essential to draw lessons from the Lagos demolitions to ensure a secure and informed land acquisition process. Below are highlighted key steps to consider in the course of acquiring lands and territorial properties in Abuja.

• Research and Due Diligence

There is an important need to conduct thorough research on the intended land or property. Verifying the authenticity of land titles, survey plans, and other relevant documents are key actions required to be taken. Engaging with reputable real estate agencies and legal professionals to guide you through the due diligence process will not only help in avoiding future troubles but save you from the future loss of properties worth millions of Naira.

• Compliance With Regulations

The familiarization of oneself with local Abuja land laws and regulations governing property acquisition in Abuja will not only give you an educative edge over other investors but help you in the course of navigating and exploring available lands and properties intended for investment in Abuja.

There is need to ensure that the property adheres to zoning regulations and environmental guidelines to prevent future legal challenges, tussle and complications.

•Engage Professionals

Investors and buyers are advised to seek the expert service of of professionals such as surveyors, engineers, and legal advisors. Their insights will not only help identify potential issues with the property but go as far as ensuring the strict compliance with all necessary regulations.

• Infrastructure Assessment

Though stressful but highly advantageous, the exercise involving the assessment of the surrounding infrastructure, including drainage systems, to evaluate potential risks, should not be neglected. Investors and buyers are advised to avoid properties situated in areas prone to flooding or those with inadequate infrastructure.

• Community Engagement

Engagement with the local community to gain insights into the history of the area and potential challenges will grant investors and buyers access to viable information. This will not only provide valuable information about the property’s suitability but reduce drastically the likelihood of future government interventions.

• Documentation Review

Scrutinizing all documents related to the property, including previous land transactions and government approvals is highly essential. The need to ensure that a property has a valid Certificate of Occupancy and that all necessary permits are in place cannot be over-emphasized.

It is of utmost importance to see to the confirmation of the validity of the Certificate of Occupancy and ensure all required permits are in place to solidify the legality of your investment.

 

3.0 CONCLUSION

In light of the ongoing demolitions in Lagos, it becomes important for individuals targeting and eyeing the Abuja real estate market to approach land acquisition with heightened vigilance and prudence. Whether the demolitions in Lagos is as a result of political vendettas, tribal animosities, or an attempt at unauthorized land acquisition by the Lagos State government, the potential risks demand a strategic response.

As investors drift and venture into the Abuja real estate space, it is crucial to conduct due diligence and scrutinize the authenticity of real estate companies. The recent events give rise to the necessity for thorough research, adherence to regulations, and collaboration with professionals in the field. Prospective investors must actively engage with local communities to ensure the availability of the land and its legal status.

By embracing these precautionary measures, such as those exemplified and strictly followed by various real estate firms, individuals can protect and shield themselves from the negative wave of future demolitions and contribute to creating a secure and sustainable real estate landscape in Abuja.

As the Lagos demolitions unfold as a cautionary story, the lessons drawn can empower investors to make informed decisions, thereby fortifying the resilience of the Abuja real estate market against potential future problems. Just as aforementioned, the ongoing demolitions in Lagos serve as a cautionary story for potential land buyers in Abuja.

By following lessons learned from these events, individuals can follow the land acquisition process with greater confidence and reduce the risk of falling victim to unforeseen demolitions. Through thorough research, compliance with regulations, engagement with professionals, and community involvement, prospective land buyers can contribute to building a secure and sustainable real estate environment, space and industry in Abuja.

 

About the Author

Israel Adebiyi is an undergraduate student of law at Ekiti State University, Ado Ekiti with a penchant for Commercial Law Dispute Resolution, Intellectual Property, Human Rights Law and Energy Law. Israel has been able to demonstrate interest in these areas of law through membership in related societies, internships, volunteering and participating in several seminars.

He can be reached via the following mediums: [email protected], 09064005464, biyi_maro@instagram, Adebiyi Israel@Twitter and Israel Adebiyi @LinkedIn

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