Turning ancestral land into profitable real estate investment in Nigeria

In Nigeria, we often hear things like:
“The land in the village belongs to my grandfather.”
“Our family land has been there since I was a child.”
“We only left him there. Nobody touched him.”

What if I tell you that the land you inherited from your father, grandfather, or even your great-grandmother might only sit on literal gold-gold, but the potential for real estate that can start making your money today?

Let’s destroy.

1. Emotional Value vs. The inherited land economy

Many families in Nigeria are attached to emotional and deep cultural values ​​to the ancestral land. This is a symbol of roots, inheritance, and continuity. But while Valid’s emotions, leaving valuable property to collect bushes and termites do not respect heritage – it stagnates. Ancestral land should not only be a memory bank; It must be a financial machine.

2. The general myth that makes the family’s land remain silent

Let’s discuss the biggest myth:

● “This is just Bush, what can I do with that?”
Bush is a person’s dream site for schools, agriculture, event centers, or warehouses.
● “We don’t want to sell our legacy.”
Who says you have to sell it? You can rent, rent, or build and maintain ownership.
● “There is a land dispute in the family.”
Then finish. Land conflict delays wealth. Involve the legal mediators and ownership documents correctly.
● “It’s in the village, no one will rent there.”
Today, the village -village turned into a city. Many urban workers moved to semi-research areas due to costs and calm. People now work in the city and sleep in the village.

3. Real possibility: what you can do with the land inherited

Let’s talk about how to change the soil that is “useless” into an advantage:

a) Agribusiness rent

If you don’t have money to farm yourself, rent a land to an agro-citizen. Nigerian food needs increase, and agricultural land is gold.

b) Event Center or Open Space Rental

Have a family land with space? Flatten it, clean, fence, and start renting it for the wedding, parties, and the Church Crusades. Rural areas like open events.

c) Build low -cost housing for rent

Wake up some 1 bedroom or mini-flat bungalow. People moved to the suburbs such as icorodu, Mowe, and IFO. Affordable housing is in demand.

d) Warehouse or storage facility

Urban traders need warehouse space in a cheaper location. Rural land close to the main road is perfect for this.

Also Read: Nigerian Government Moves To Regulate Pisang Island, Lekki, Other Waterfront Properties

e) Partner with the developer

You bring land, they carry money. A good joint venture agreement can turn vacant land into a property that generates a profit when you still have your rights.

4. Legal steps that you should not ignore

Before you do anything, make sure the following:

● Appropriate documentation:
Make sure the land has an assignment deed, survey plan, and is preferred by a residential certificate or the governor’s approval if in the government acquired zone.
● Family agreement:
If it is a family land, gather everyone and get a written agreement to avoid “Wahala” later.
● Registered Companies (Optional):
Consider registering a business to manage land, especially if you build rental or rental.
● Get a lawyer:
Never cut the angle. A good property lawyer will save stress, especially for joint ventures or rental contracts.

5. Examples of real life: from bushes to blessings

Mr. Tunde inherited 2 hectares of land in Ilaro, the state of Ogun. For 10 years, it was only a sweet potato agriculture. In 2022, he cleaned it, fenced off beams, building drill holes, and putting plastic chairs under the canopy. He began to rent it as a venue for the event. Today, every weekend Owambe makes him get 100k-200K. All from “Just Family Land.” Imagine that.

6. From responsibility to inheritance

Family land can switch from to a burden to a blessing. Instead of leaving empty land and arguing during the Christmas family meeting, why not take over and start something that creates cash flow?

Think like this:
Instead of telling your children, “This land belongs to your grandfather,”
You can say: “This property feeds our family today, and will feed you tomorrow.”

7. Last thoughts

It’s time to change our mindset. Not all real estate investments begin with buying new land. Sometimes, land has been given to you – free. True investment is in your vision.

Do not wait until the land becomes an illegal disposal site or taken over by the drama “Omo Onile”. Start today. Check. Wipe. Appreciate that. Use it. Your next real estate breakthrough might hide in your father’s backyard.

By: Dennis Isong

Join the conversation

Opinion

Supports Nigeria’s ripples, resistant Journalism Solutions

A balanced and fearful journalism that is driven by data comes with enormous financial costs.

As a media platform, we ask for leadership accountability and will not trade the right to suppress freedom and freedom of speech for a piece of cake.

If you like what we do, and ready to uphold journalism solutions, friendly Nigerian ripples cause.

Your support will help ensure that residents and institutions continue to have free access to credible and reliable information for community development.

Donation now