Nigeria: Conveyancing

For generations, Nigerians have regarded land as the safest store of wealth. The prevailing investment philosophy has been remarkably simple: acquire land, hold it patiently, and allow appreciation to generate wealth over time. Across Lagos, Abuja, Port Harcourt and other commercial centres, countless families have followed precisely that strategy.

Nigerian land ownership is governed by the Land Use Act of 1978, which gives the governor of a state ownership of all land within that state to be held in trust for the benefit of the populace.

The Land Use Act of 1978 revolutionized Nigeria's land ownership system by centralizing control and vesting title to all land in the governor of each state, who holds it in trust for the people.