Can a foreigner buy house in Nigeria?

Can a foreigner buy house in Nigeria?

 

Yes, a foreigner can buy landed property in Nigeria with future properties which is convenient and legal. But this is subject to certain restrictions identified under the ALAL.

(Acquisition of Lands by Aliens Law)

 

The chief restriction under ALAL is the requirement for State Governor’s_ written approval before instrument of transfer could be lawfully executed. Failing which subsequent transfer instrument may be regarded as void abinitio.

 

Can a foreigner buy house in Nigeria?

 

Considering the above limitations, foreigners may still be able to acquire lands or landed properties in Lagos.

 

In Lagos State, the Acquisition of Lands by Aliens Law by Section 1, 2 and 3, limits the acquisition of land or interest in land by foreigners except the acquisition of land by an alien is approved in writing by the Governor, save where the interest in land sought is for less than three years which includes any option to renew.

 

ALAL_ provides that-

“No foreigner shall acquire any interest or right in or over land from a native of Nigeria unless the transaction under which the interest or right is acquired has been previously approved in writing by the Governor”.

 

ALAL_ further provides that –

“Any agreement and any instrument_ in writing or under seal by or under which an alien purports to acquire any interest or right in or over any land (other than an interest or right acquired pursuant to the provisions of this.

 

Summarily, a foreigner can acquire land or interest in land from a Nigerian, provided the written approval of the Governor is first sought and with the help of future properties obtained before the relevant instruments are executed.