Turning ancestral land into profitable real estate investments in Nigeria

In Nigeria, we often hear things like:
“That land in the village belongs to my grandfather.”
“Our family land has been there since I was a child.”
“We just leave it there. Nobody touches it.”

What if I told you that the land you inherited from your father, grandfather, or even great-grandmother might just be sitting on gold — not literal gold, but real estate potential that could start making you money today?

Let’s break it down.

1. The Emotional vs Economic Value of Inherited Land

Many families in Nigeria attach deep emotional and cultural value to ancestral land. It’s a symbol of roots, heritage, and continuity. But while emotions are valid, leaving valuable property to gather bush and termites does not honor the legacy — it stagnates it. Ancestral land should not just be a memory bank; it should be a financial engine.

2. Common Myths That Keep Family Lands Idle

Let’s address the biggest myths:

● “It’s just bush, what can I do with it?”
That bush is someone’s dream site for a school, farm, event center, or warehouse.
● “We don’t want to sell our heritage.”
Who says you must sell it? You can lease, rent, or build and still retain ownership.
● “There’s land dispute in the family.”
Then resolve it. Land conflict delays wealth. Engage a legal mediator and document ownership properly.
● “It’s in the village, nobody will rent there.”
These days, villages are turning into towns. Many urban workers are relocating to semi-rural areas because of cost and quiet. People now work in the city and sleep in the village.

3. Real Possibilities: What You Can Do With Inherited Land

Let’s talk about how to transform that “useless” land into profit:

a) Agribusiness Lease

If you don’t have money to farm it yourself, lease the land to an agro-entrepreneur. Nigeria’s food needs are rising, and farmland is gold.

b) Event Center or Open Space Rental

Got family land with space? Flatten it, clear it, fence it, and start renting it out for weddings, parties, and church crusades. Rural areas love open-air events.

c) Build Low-Cost Housing for Rent

Build a few 1-bedroom bungalows or mini-flats. People are moving to outskirts like Ikorodu, Mowe, and Ifo. Affordable housing is in demand.

d) Warehouse or Storage Facilities

Urban traders need warehouse space in cheaper locations. Rural lands close to main roads are perfect for this.

READ ALSO: Nigerian govt moves to regulate Banana Island, Lekki, other waterfront properties

e) Partner with Developers

You bring the land, they bring the money. A good joint venture agreement can turn idle land into profit-yielding property while you still retain your rights.

4. Legal Steps You Must Not Ignore

Before you do anything, please make sure of the following:

● Proper Documentation:
Make sure the land has a Deed of Assignment, survey plan, and preferably a Certificate of Occupancy or Governor’s Consent if within a government-acquired zone.
● Family Agreement:
If it’s a family land, gather everyone and get a written agreement to avoid “wahala” later.
● Registered Company (Optional):
Consider registering a business to manage the land, especially if you’re building rentals or leasing.
● Get a Lawyer:
Never cut corners. A good property lawyer will save you stress, especially for joint ventures or leasing contracts.

5. True-Life Example: From Bush to Blessing

Mr. Tunde inherited a 2-acre land in Ilaro, Ogun State. For 10 years, it was just a yam farm. In 2022, he cleared it, fenced it with blocks, built a borehole, and put plastic chairs under canopies. He started renting it out as an event ground. Today, every Owambe weekend earns him 100k-200k. All from “just family land.” Imagine that.

6. From Liability to Legacy

Family lands can move from being a burden to being a blessing. Instead of leaving the land idle and arguing over it during Christmas family meetings, why not take charge and begin something that creates cash flow?

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

7. Final Thoughts

It’s time to change our mindset. Not all real estate investment starts with buying new land. Sometimes, the land has already been given to you — free of charge. The true investment is in your vision.

Don’t wait till that land becomes an illegal dump site or is taken over by “omo onile” drama. Begin today. Inspect it. Clear it. Value it. Use it. Your next real estate breakthrough might be hiding in your father’s backyard.

By: Dennis Isong

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now