Forbes vs. Reality: Why "Too Good to Be True" Land Prices in Lagos Are a Major Red Flag

The Land Looks Cheap. But What Is the Real Cost?

In the world of investing, there's a timeless adage: if a deal looks too good to be true, it probably is. Yet, in the high-stakes, emotionally charged arena of Nigerian real estate, this wisdom is often overshadowed by the powerful allure of a bargain. For a Nigerian professional living in the diaspora—whether in Houston, London, or Toronto—seeing a full plot of land advertised in a "fast-developing" area like Ibeju-Lekki for a fraction of the market price can ignite a potent sense of urgency. It feels like the opportunity of a lifetime.

That ₦850,000 or $1,000 plot seems like a low-risk entry into the Lagos property market—a chance to finally own a piece of home. But before you get swept up in the fear of missing out and click ‘pay,’ it's crucial to pause and ask the most important question: Why is it so cheap?

The price tag is often the bait. The real cost—measured in financial loss, protracted legal battles, and profound emotional stress—is hidden beneath the surface. If you are abroad and planning to invest back home, here is what you absolutely need to know about the economics of "cheap land" in Nigeria before you make your next move.

The Illusion of a "Deal" — The Four Real Reasons Land Is Priced Too Low

Professional real estate investors and developers operate on data, due diligence, and risk assessment, not on hope. When a plot of land is priced significantly below its neighbors, it is almost never an oversight. It is a calculated risk being passed on to an unsuspecting buyer. Here are the four most common reasons.

1. The Terrain Trap: Swamp, Flood Plains, and Undevelopable Land

What It Looks Like: The online pictures are beautiful, perhaps even showing a cleared plot. The seller will talk about the future "Lekki Free Trade Zone" or the "New International Airport" to create a sense of inevitable growth.

The Reality: The land is often located in a perennial floodplain or is fundamentally swampy terrain. While it looks solid during the dry season, the first major rainy season can turn your investment into a lake. Making such land buildable requires millions of naira in sand-filling, extensive foundation work (like piling), and sophisticated drainage systems—costs that can dwarf the initial "bargain" price of the land itself.

The Bottom Line: You are not buying land; you are buying a significant civil engineering problem. The cheap entry fee is just the down payment on a far more expensive, long-term headache.

2. The Sovereignty Trap: Omo-Onile Hot Zones

What It Looks Like: The transaction seems straightforward. A family or individual presents themselves as the owner and is eager to sell quickly with minimal paperwork. They might even offer a handwritten receipt and a handshake deal.

The Reality: You are likely buying land in a territory controlled by Omo-Onile (a term for descendants of the original land-owning families). While these families were the historical custodians, they often lack the formal, government-recognized title (like a C of O) to legally sell the property. They will sell you the plot, only for you (or your builders) to be confronted later by different family factions demanding hefty "settlement fees," "foundation fees," "roofing fees," and more—often backed by intimidation and threats of violence. You are effectively paying for the same land over and over again.

The Bottom Line: You are buying a recurring, unquantifiable liability, not a secure asset. Your ownership is perpetually contested and can only be maintained through ongoing, often-extorted, payments.

3. The Legal Trap: Litigated or Disputed Properties

What It Looks like: The seller is pushing for a quick close and might be vague about the land's full history or why they are selling it so cheaply.

The Reality: The property is likely embroiled in an ongoing legal battle. This could be a family dispute where multiple siblings or relatives are all laying claim to the land, or a formal court case with another party over ownership. The seller is trying to offload a toxic asset before a court judgment renders their claim void. Once you buy it, their legal problem becomes your legal problem.

The Bottom Line: You are purchasing a lawsuit. Your investment will be tied up in legal fees and court appearances for years, with no guarantee of a positive outcome.

4. The Government Trap: Land Under Committed Acquisition

What It Looks Like: The land is in a seemingly prime location, perhaps near a major new highway ordevelopment project. The seller has documents that might even look official, like an "allocation letter."

The Reality: The land has been legally acquired by the state or federal government for a specific public purpose (e.g., roads, pipelines, government facilities), even if it hasn't been developed yet. This is known as "committed acquisition." Any title or allocation a private individual claims to have on this land is invalid.

The Bottom Line: You are buying land you can never legally own or build on. Even if you manage to construct a building, it is at constant risk of demolition by government authorities without compensation.

The receipts and pictures won't stop the bulldozers.

Diaspora Buyers: Why You Are the Primary Target

Why are these deals so aggressively marketed to Nigerians abroad? The sellers and unscrupulous agents

understand and exploit a few key vulnerabilities:

• Emotional Distance & Urgency: They know you feel a deep emotional pull to own property back home and can leverage the "fear of missing out" on a fast-developing area.

• Information Asymmetry: They are counting on the fact that you cannot easily verify information from thousands of miles away.

• Inability to Inspect: They know you're not likely to hop on a plane to inspect a ₦850k plot of land.

They might send you pictures of a completely different, more attractive piece of land. As one client told us, "They know you’re not coming to inspect. That’s the entire play."

• Trust in Surface-Level "Proof": Smooth-talking agents, a well-designed social media page, and a few seemingly official (but often forged) documents can be enough to convince someone who wants to believe they’ve found a great deal.

What Real Verification Looks Like (And Why It’s Non-Negotiable)

If it’s not verified, it’s not valuable. You must move from buying assumptions to buying facts. At Dukèch Realty, our land verification is not just a service; it is a core pillar of our promise to protect our diaspora clients. Our comprehensive due diligence includes:

• Cadastral Search at the Lagos State Land Registry (or relevant state): We don't take a C of O or Governor's Consent at face value. We verify its authenticity and status directly at the source.

• Chart and Check for Government Acquisition: Our licensed surveyors use official government maps and records to confirm the land does not fall within a committed acquisition zone.

• Thorough Site Visit with Geotagged Reports: We conduct an on-the-ground inspection to assess terrain, check for signs of disputes (Omo-Onile presence), confirm access, and identify flood risks.

You receive detailed photo and video reports.

• Document Authenticity Review: We scrutinize every page of the Survey Plan, Deed of

Assignment, and any other title documents for inconsistencies or signs of forgery.

• (On Request) Drone Scans and Topography Checks: For large or complex sites, we can arrange for advanced surveys to give you a complete picture of the land's physical characteristics.

The Dukèch Principle: If we cannot independently verify every aspect of a property’s legitimacy and viability, we will unequivocally advise you not to proceed. We would rather lose a sale than have you lose your investment.

Final Thought: You’re Not Just Buying Land—You’re Buying Peace of Mind

That plot of land represents more than just square meters; it represents your hard work, your family’s future, and your connection to home. That legacy deserves the foundation of professional due diligence, not the flimsy ground of wishful thinking.

The allure of a cheap deal is temporary, but the cost of a bad investment can be permanent. Choose to invest wisely. Choose facts over fiction. Choose security over speculation. Choose to build your Nigerian dream on a foundation you can trust.

Before you commit to any land deal, let us provide the clarity you need.

Request a Verification Report