“ Every man is a king in his own house”, this proverb perfectly defines the essence of property ownership in Nigeria.
Property is an integral part of the family life in Nigeria. It is the fundamental basis of wealth, status and cultural identity. A Nigerian man with a land is seen as a ‘full man’ who has accomplished the greatest feat in life, hence the reason every family strive to have one in their name.
One of the ways property ownership is important to Nigerian families is through the widely practiced tradition, inheritance. In Nigeria, it is customary for parents to pass down their property to their children. This practice helps maintain family ties and ensure that the family’s assets are preserved and successful passed on to generations to come.
Of these multitude reasons why land is essential to an average Nigerian, its long-term benefit, (inheritance), is the topmost priority because it offers the most value; financial stability and security for future generations.
The acquisition of property in Nigeria is not devoid of challenges. Several factors such as, scarcity of land, high cost of property, corruption, legal challenges and inaccessible mortgage loans and fraud makes it difficult, especially for lower to middle class families, to be land owners.
These difficulties, however, do not diminish the importance of land ownership or the quest to acquire land. Rather, they further emphasis the need.
In conclusion, the importance of land ownership in Nigeria can not be overemphasised. The desire to own property is deeply ingrained in the Nigerian culture, it is a heritage passed down from past generations to the present and will continually be passed on.
Despite the challenges, the importance of land ownership remains constant, and it will continue to be an essential part of the Nigerian family life for generations to come.
