The laws regulating real estate in Nigeria are referred generally to as Property Law. The
most superior of all laws regulating Real Estate in Nigeria is the Nigerian 1999 Constitution (as amended). The Constitution is Supreme and binding on all persons, authorities, agencies, and organizations in Nigeria. Furthermore, any other law whose provisions are contrary to the 1999 Constitution, will be declared void. This implies that if any other real estate legislation says what is not in line with the constitution, such section of the legislation will be set aside by the court.
The 1999 Constitution in Chapter 4 provides for fundamental human rights. This refers to different rights every Nigerian is to enjoy irrespective of age, tribe, religion or gender. The right relating to Real Estate is stated in Section 43. This section gives you the right to
acquire and own property anywhere in Nigeria (whether in the North, South, East or West). This section prevents the continuation of the former real estate practice where non-indigenes of a state where discriminated against, and prevented from acquiring land/immovable property outside their state of origin. So, know that as a Nigerian, you can acquire land/immovable property anywhere in Nigeria.
Furthermore, the constitution prevents the government from arbitrarily using its power to compulsorily acquire your property. If the government does so, you can take them to court and recover your property in addition to getting monetary compensation.
If however the government acquires your property on the grounds of public interest, it must promptly pay you compensation. Always remember this.
This real estate legislation was promulgated under the administration of General Olusegun Obasanjo, the then Military Head of State.
The Act had 4 objectives. Firstly, to remove the bitter controversies resulting at times in the loss of lives and limbs, which land is known to be causing. The second objective is to
streamline and simplify the management and ownership of land in Nigeria.
The third objective is to assist all Nigerians irrespective of their social status to realize the aspiration and ambition of owning a place where they and their families can live secure lives.
Lastly, the Act aims at enabling the government to bring under control the use to which land can be put in all parts of the country, thereby facilitating planning and zoning programs for particular uses.
By the provisions of Section 1(1), all lands in a state is held by the Governor as a Trustee.
The Governor is to administer such land for the use and common benefit of all Nigerians. The Governor has the right to grant use of land for use by individuals for a number of years as provided by Section 5(1)(a). It should be noted that the Governor is the trustee of all Urban lands, except Federal Land. Furthermore, the local government is in charge of rural land. It should be noted that in the Federal Capital Territory, land is held in trust by the President, who has delegated the power to the Minister of the FCT, who has the same powers of a State Governor as regards grant of land.
More on the Land Use Act, 1978 (C)
In furtherance of powers of the Governor as the trustee of all state land, he can grant
citizens usage of a land for a period of time, usually 99 years. The grant is subject to
payments of rents and observance of conditions and covenants of the grant.
The document that encapsulates this grant of land is called a Certificate of Occupancy ( C of O ). Where you go against the conditions and covenants stated in the C of O, it may be revoked.
Another point that must be noted is in relation to Governor's consent. The consent is the approval of the Governor of a State/ Minister of the FCT which must be gotten before you can transfer your interest in land, whether through assignment, mortgage, or sublease.
Furthermore, if you are under age 21, you cannot directly own land in your name except it is acquired by your guardian or trustee. However, upon the death of a person who passes land to you, even though you are not up to 21, you can own the land in your name, notwithstanding that no guardian or trustee has been appointed for you.
Let this knowledge guide you in your real estate transactions.