The real estate sector in Lagos State, one of the most vibrant segments of Nigeria’s economy, continues to face significant challenges despite its strong investment appeal.
Driven by rapid urbanisation, population growth and increasing housing demand, Lagos remains a major destination for both local and diaspora investors.
However, industry stakeholders say persistent issues, particularly land grabbing, are undermining its full potential.
A real estate expert, Dr. Abdullahi Saheed Mosadioluwa, popularly known as Ibile, said the long-standing menace of land grabbing had continued to erode investor confidence and slow sectoral growth.
He described land grabbing as an illicit practice often carried out by organised groups, leading to financial losses, protracted legal disputes and, in some instances, violent confrontations.
Mosadioluwa noted that the problem was historically prevalent in areas such as Ijoko and Sango-Otta, where weak land administration systems and informal ownership structures created loopholes for exploitation.
“Unscrupulous individuals capitalised on these gaps to sell disputed or encumbered land, sometimes to multiple buyers,” he said.
According to him, the intervention of the Lagos State Government through the enactment and enforcement of the Property Protection Law marked a turning point in addressing the challenge.
He said the law had provided a legal framework to prosecute offenders, safeguard legitimate property owners and restore sanity to land transactions.
“The impact of this legislation is evident, with a noticeable reduction in land grabbing incidents and improved accountability within the sector,” Mosadioluwa said.
He commended the state government for its proactive measures, adding that consistent enforcement had helped to rebuild trust in the real estate market.
Despite the progress, the expert identified lingering concerns among Nigerians in the diaspora as a major challenge.
He said many prospective investors remained cautious about committing funds to property acquisition due to previous experiences and reports of fraudulent transactions.
Mosadioluwa, however, observed that some diaspora investors were still attracted to relatively cheaper land offers, often exposing themselves to higher risks associated with unclear ownership and inadequate documentation.
He emphasised the need for thorough due diligence, warning that acquiring land without verifying its statutory title could result in financial loss and legal complications.
“Prospective buyers must ensure that land titles are properly documented and legally recognised before entering into any transaction,” he said.
The expert also called on regulatory authorities to strengthen oversight of real estate developers and marketers to ensure compliance with existing laws.
He stressed that properties advertised for sale must be backed by verifiable statutory title documents, adding that defaulters should be sanctioned to protect consumers and maintain industry standards.
Mosadioluwa said that while Lagos had made commendable progress in curbing land grabbing, sustained efforts were needed to address residual challenges and fully sanitise the sector.
He identified stronger regulatory enforcement, increased transparency and continuous investor education as critical to enhancing confidence and unlocking the sector’s full potential.
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By
FEMI SEGUN,
EPE PEOPLE'S OPINION POLL PLATFORM COORDINATOR.