It is no longer news that the Nigerian Government has granted license to a company to open a gold refinery in the town of Mowe, Ogun State.
Mowe is a town known for selling plots of land cheap to people who cannot afford to buy land from Lagos.
But with the citing of a gold refinery in the town, landlords and other landowners are in for an increase in land values – that is, if the gold refinery project comes off the ground.
I guess this is the “last chance” for prospective property investors to cash in before the gold refinery begins operations – just kidding.
One word if you want to buy land from Mowe or Ibeju-Lekki: avoid hidden costs. Ask how much the development levy is. Some unscrupulous estates companies would sell land to you very cheap.
But the hidden development levy afterwards would be like paying your yearly rent. And if you don’t pay, they might take back the land you have already bought.
So, let a good lawyer go through any agreement. And shine your eyes before investing your hard earned cash. Ask the right questions.