Business
HOW TO IDENTIFY FAKE REAL ESTATE COMPANIES IN LAGOS BY DENNIS ISONG
HOW TO IDENTIFY FAKE REAL ESTATE COMPANIES IN LAGOS BY DENNIS ISONG
Last year, Mr. Ezekiel was looking for a small house to buy so that he can stay there anytime he comes to Lagos (his family is in Benin and he doesn’t want to keep renting an apartment because of his experiences with people).
There was a signpost of a real estate company he used to see anytime he was on his way to work. Then, he decided to make inquiries from them.
He was ushered in with so much excitement as if they had been waiting for him all along. He thought, well, maybe it’s part of customer care service.
Then, he described the kind of property he wanted and they said they don’t have it yet but tried to convince him to buy land. He yielded after so much persuasion.
He was told that it would take a few weeks before he can be allocated and Mr. Ezekiel was fine with it.
On the week of allocation, excuses kept falling on excuses from the real estate company. Initially, Mr. Ezekiel didn’t have any reason to doubt but at some point, he felt uncomfortable and decided to go with a friend.
The real estate company sent someone to take them to the place. On getting there, Mr. Ezekiel was shown the land and this representative found a way to excuse himself that he would be back unknown to Mr. Ezekiel and his friend that the guy had absconded, leaving them there.
Some minutes later, a man approached them and asked them what they wanted. Mr. Ezekiel said he had come to inspect his land. The man gave a roaring laughter and he said, “it’s your turn today. Anyway, this land belongs to Alhaji Umaru and if you walk another 2 miles, you will see a cattle ranch which also belongs to Alhaji. If you claim to have bought this land, the only person that can sell it to you is Alhaji.”
Apparently, Mr. Ezekiel was not allocated. He was just taken somewhere so that he can get off their back.
Mr. Ezekiel was furious and dashed down to the office. Before he got there, they had moved.
In Nigeria, there are thousands of real estate companies out there. Many of them take your money without allocating land to people that paid. Please don’t pick on any random real estate company because you are seeing their signposts.
When they are done with the evil, they move elsewhere, so it’s difficult to pin them to a location.
How do you avoid falling into the hands of a fake real estate company?
In everything we do, we have to be very patient. I understand the eagerness that comes with wanting to buy a property but, please, breathe!
Because with patience, you can easily spot some things ordinarily you may never have thought of.
1. CHECK THEIR PROFILE
No matter the make-believe, fake real estate companies’ profiles are always vague. Yes, they talk about what they do, and at the same time, they are saying nothing. If you notice any disparity, don’t ignore it. Ensure you pay attention to everything they say about their company.
2. CHECK THEIR SOCIAL MEDIA TRACK RECORD
You can spot a fake real estate company by checking its social media record. All you need to do is type the name on google. You will get if not all but some information that would inform your decision on whether you should go on or look for another real estate company.
3. DOES THEIR OFFICE ADDRESS ON THE PAGE TALLY WITH WHERE YOU ARE ASKED TO SEE THEM?
Any serious real estate company will change its office location on social media platforms if there’s a change of location. When you notice that their office address is completely different from where you are asked to come over, it’s a red flag.
4. IS IT A KNOWN COMPANY?
A real estate company that claims to have been in business in Lagos shouldn’t be strange when you mention their name to people. If several people you ask about them do not have any idea who they are, it’s a big red flag.
5. ARE THEY REGISTERED?
You can’t have a real estate company and not have it registered. It’s not a business you can do without proper and lawful registration.
If the real estate company you are about to start a property business with isn’t registered, you may want to take a step back.
6. CHECK IF THE PLACES THEY CLAIM TO HAVE PROPERTIES IN TRULY EXIST
We can’t know everywhere, even if we live in the same location for years. When they tell you about the location where their properties, don’t wait and do nothing. Do your investigation as well. A fake real estate company is dubious of location, they take advantage of this.
7. ARE THEY IN A HURRY TO SELL TO YOU
If you notice any form of desperation, quit!
And the most important thing is that, if your mind isn’t convinced, DON’T DO IT!
Dennis Isong Helps Nigerians In Diaspora To Get Property In Lagos Easily. Download this GIFT “Real Estate Guide 101”.CLICK THE LINK BELOW TO DOWNLOAD FOR FREE https://landproperty.ng/free
Business
Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth
Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth
By George O. Sylvester, Reporting from South Africa
CAPE TOWN, April 17, 2025 – In a landmark move aimed at reshaping Africa’s economic future, Nigeria and South Africa signed a historic Memorandum of Understanding (MoU) to collaborate in the solid minerals sector. The agreement, reached during the 11th session of the Nigeria-South Africa Bi-National Commission (BNC), represents a strategic alliance focused on harnessing Africa’s vast mineral wealth for mutual benefit and sustainable development.
The deal marks a bold shift towards intra-African cooperation, at a time when global competition for mineral resources—especially critical minerals for green technologies—is intensifying. With the African Continental Free Trade Area (AfCFTA) now operational, this bilateral partnership lays the groundwork for a new continental approach to resource governance and economic diversification.
A Tale of Two Giants
Nigeria, long regarded as a mono-economy reliant on oil (which accounts for over 85% of its export revenue), has begun to prioritize the mining sector as a vehicle for economic diversification. According to the Nigerian Extractive Industries Transparency Initiative (NEITI), the country’s solid minerals sector contributed a mere 0.63% to GDP as of 2022, despite holding an estimated $700 billion in untapped mineral reserves including gold, lithium, columbite, iron ore, and uranium.
In contrast, South Africa’s mining sector, which contributed approximately 7.5% to GDP in 2023 (StatsSA), is globally renowned for its depth, technological sophistication, and regulatory framework. With over 100 years of mining history, it boasts world-class infrastructure and expertise in areas such as deep-level mining, beneficiation, and environmental management.
The union of Nigeria’s raw potential and South Africa’s technical prowess could become a game-changer—not just for both economies but for Africa’s collective push toward industrialization and self-reliance.
Key Components of the MoU
1. Joint Geological Mapping
Using satellite imaging, geospatial technologies, and AI-powered mineral detection tools, both countries will collaborate on large-scale geological surveys. This effort is critical in Nigeria, where over 80% of the land remains geologically underexplored, according to the Nigerian Geological Survey Agency (NGSA).
2. Data Exchange and Transparency
A core pillar of the agreement is real-time data exchange between the NGSA and South Africa’s Council for Geoscience. This will enhance transparency, reduce investor risk, and improve planning. By adopting South Africa’s data management frameworks, Nigeria aims to move toward international best practices in resource classification and public disclosure.
3. Capacity Building and Technology Transfer
To reduce Nigeria’s dependence on foreign consultants, South Africa will assist in training geologists, metallurgists, and mining engineers through academic exchanges, short courses, and certification programs. Nigerian professionals will also be trained in advanced techniques such as Elemental Fingerprint Technology, which determines mineral origin—crucial for combatting illegal mining and smuggling.
4. Exploration of Agro and Energy Minerals
The MoU includes joint ventures in exploring agro-minerals like phosphate and potash (needed for local fertilizer production) and energy minerals like lithium and cobalt—essential components of electric vehicle batteries and clean energy storage systems. Nigeria’s nascent lithium reserves in Nasarawa and Ekiti states could prove critical as the world pivots toward decarbonization.
Economic Potential
According to PwC’s Nigeria Mining Sector Report, the solid minerals industry could contribute up to $27 billion annually to Nigeria’s GDP by 2030, if adequately developed. This partnership is expected to catalyze investment and attract global mining companies previously hesitant about Nigeria’s regulatory unpredictability.
Already, projections suggest the MoU could generate over $500 million in direct foreign investment during the first phase. Furthermore, the Nigerian Ministry of Solid Minerals forecasts the creation of 3 million jobs across the mining value chain—ranging from exploration and extraction to logistics and beneficiation.
For South Africa, this is a strategic economic expansion. With its traditional mining output slowing due to resource depletion and labor unrest, South Africa is seeking new avenues for growth. By investing in West Africa, it not only expands its mining footprint but deepens its diplomatic influence and commercial engagement with Africa’s largest economy.
Institutional Support and Structural Reforms
Nigeria’s reforms have not gone unnoticed. The introduction of the Electronic Mining Cadastral System (EMC+) has streamlined licensing and reduced corruption, enabling a transparent “first come, first served” process. In 2024 alone, over 1,500 mineral titles were processed electronically—a significant improvement from previous years marred by bureaucracy.
Moreover, the Nigeria Minerals Decision Support System (NMDSS) has made investor-relevant data—such as infrastructure availability, environmental regulations, and geoscience—accessible through a centralized portal. These tools are modeled after global standards, including Australia’s Geoscience Portal and South Africa’s SAMREC Code.
Diplomatic and Regional Impact
This partnership is more than a commercial endeavor; it is a diplomatic signal. Both countries, which combined account for over 30% of Africa’s GDP and nearly 300 million people, are demonstrating leadership in Pan-Africanism. The agreement comes at a time when Africa must assert control over its mineral wealth, especially with rising concerns over neocolonial extraction by foreign powers.
As Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, noted in 2024:
“Africa cannot be the source of raw materials for global value chains without being part of those chains.”
The Nigeria-South Africa MoU embodies this vision. By focusing on value addition, local content development, and environmental sustainability, the partnership seeks to reverse the continent’s historical pattern of extractive exploitation.
A New African Vision
Underpinning this alliance is a deeper aspiration: a unified African response to global economic challenges. With AfCFTA aiming to boost intra-African trade by over 50% by 2030 (UNECA estimates), resource-rich countries must lead the charge. If this mining collaboration succeeds, it could set a precedent for other sectors—agriculture, energy, technology—where African synergies remain largely untapped.
It is also a message to African youth, millions of whom face unemployment despite living in the most resource-endowed continent on Earth. The partnership can create meaningful employment while fostering innovation, entrepreneurship, and skills development.
Conclusion
The Nigeria-South Africa mining partnership is not just a bilateral deal—it is a continental statement. It reflects a long-overdue shift in how African nations view their resources, their allies, and their future. By choosing cooperation over competition and value creation over mere extraction, both countries are redefining what African leadership means in the 21st century.
This agreement could well be remembered as a turning point—when two of Africa’s most influential nations chose not only to collaborate but to lead.
As the late Kofi Annan once said:
“Resources are not curses. Mismanagement is.”
This partnership offers Africa a rare opportunity to get it right.
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