Buying property in Nigeria can feel like stepping into a marketplace where everyone speaks a language you don’t fully understand. You hear people say “deed of assignment,” “survey plan,” or “C of O,” and if you’re not careful, you might nod in agreement even though you have no clue what those terms mean.
The truth is, real estate is a serious investment, and not understanding the key words can land you in avoidable trouble.
I once met a young man named Chuka who worked in tech. After saving for years, he proudly announced to his friends that he had “bought” land in Lagos. But when the excitement settled, he realized he had only received a flimsy receipt. No deed, no survey, no title document.
Months later, someone else came forward with a proper deed showing they were the rightful owner. Chuka’s joy turned into shock. That painful mistake cost him his savings.
Stories like Chuka’s are common. They show why it’s important to understand real estate terms before signing anything. In this article, we’ll explore the Real Estate Terms Every Nigerian Buyer Should Understand. We’ll break it down simply, so whether you’re in Nigeria or in the diaspora, you can approach property deals with confidence.
1. Why Understanding Real Estate Terms Matters
Imagine walking into a doctor’s office and the doctor starts throwing medical jargon at you—words like “myocardial infarction” instead of just saying “heart attack.” Confusing, right? Real estate works the same way. Without the right knowledge, a buyer can easily get overwhelmed or even misled.
In Nigeria, real estate transactions involve several players: landowners, agents, lawyers, surveyors, and government authorities. Each of them uses words that have specific legal or professional meanings. If you misinterpret those words, you risk paying for land that doesn’t legally belong to the seller, or investing in property that you cannot develop.
Understanding real estate terms also empowers you during negotiations. Instead of looking lost, you can ask the right questions, challenge unclear documents, and avoid being manipulated.
It makes you more than just a buyer—you become an informed investor. That’s why grasping these Real Estate Terms Every Nigerian Buyer Should Understand is not optional, it’s essential.
2. Key Documents That Define Ownership
Ownership in real estate is not just about paying money and getting a receipt. It’s about holding documents that legally prove your rights. Three of the most important terms Nigerian buyers encounter are the Certificate of Occupancy (C of O), the Deed of Assignment, and the Survey Plan.
The Certificate of Occupancy (C of O) is issued by the government and proves that you legally occupy a piece of land for 99 years. Without it or a recognized alternative, your claim to the land can be questioned. Many Nigerians abroad mistakenly think a receipt or “family land agreement” is enough. It is not.
Then there’s the Deed of Assignment, which records the transfer of ownership from the seller to the buyer. It is a legal document that states the seller has handed over rights to the buyer. Without a deed, you are like someone living in a rented house without a tenancy agreement—anything can happen.
The Survey Plan is another important document.
It shows the exact location and boundaries of your property. In Lagos, survey plans help you confirm whether the land is under government acquisition or free for private ownership. I’ve seen buyers purchase land only to discover later that it falls within a government reserved area. That mistake is not just costly—it can be irreversible.
When you hear these terms, don’t brush them aside as legal jargon. They are the backbone of your investment. They separate safe ownership from costly mistakes.
3. Common Terms Buyers Often Misunderstand
Beyond the major documents, there are everyday real estate terms that buyers often confuse. One of them is Excision. This refers to land that the government has released from its control to be owned privately. When land is excised, families or individuals can then sell it legally. Buyers who don’t understand excision risk paying for land the government still controls.
Another term is Governor’s Consent. This is required when a property with a Certificate of Occupancy is being resold. Many people don’t realize that even with a C of O, if you buy from someone else, the transaction is not complete until the governor consents to the transfer.
There’s also the word Setback, which refers to the distance you must leave between your building and the road, drainage, or another boundary. A buyer who ignores setbacks may build too close to the road and face demolition.
And then, Omonile—a word every Lagos buyer has heard. It refers to land-owning families or community representatives who often demand informal payments before construction starts. Some buyers dismiss it as harassment, but understanding how to legally handle Omonile matters is part of navigating the Nigerian real estate terrain.
Each of these terms carries weight. Misunderstanding them can create years of disputes. That’s why when we talk about Real Estate Terms Every Nigerian Buyer Should Understand, we’re not talking theory. We’re talking about real-life survival in a market filled with opportunities and risks.
4. The Human Side of Real Estate Language
Sometimes, it’s not the technical meaning of the terms that trips buyers up, but the way they are used in conversations. Agents might casually say, “This land has excision,” when in reality, it is only “in process.” The difference between “excision in process” and “excision granted” is huge. One means you’re buying hope, the other means you’re buying legal reality.
I recall meeting a couple from the UK who wanted to buy land in Ajah. The agent kept repeating, “It’s excision in process.” Because the couple didn’t fully grasp the term, they nearly paid millions for land that wasn’t safe. Thankfully, they sought advice and avoided the trap.
The lesson is this: real estate terms are not just vocabulary. They carry stories, risks, and possibilities. When you understand them, you’re not just memorizing definitions—you’re protecting your hard-earned money.
5. Becoming a Confident Property Buyer
Buying property in Nigeria is not just about luck. It’s about preparation, patience, and knowledge. When you know the meaning of words like Deed of Assignment, C of O, Governor’s Consent, Survey Plan, Excision, and Setback, you step into negotiations with confidence. You don’t just sign documents blindly—you ask, confirm, and verify.
Think of it like driving in Lagos traffic. If you don’t know the meaning of road signs, you’ll get fined or even get into accidents. But once you understand the rules, you navigate smoothly. Real estate is the same. Knowledge is your steering wheel.
The Nigerian property market is full of opportunities, but also full of pitfalls for the uninformed. Whether you are in Lekki, Ikorodu, Magodo, or anywhere else, your success depends on how much you understand. That’s why I always emphasize learning the Real Estate Terms Every Nigerian Buyer Should Understand. It’s the difference between a safe investment and a painful regret.
Real estate in Nigeria does not forgive ignorance. Buyers who jump in without learning the language of property often end up with stories of loss. But those who take time to understand the terms, documents, and processes stand on solid ground.
If you are considering buying property, don’t just chase location or price. Chase understanding. Ask questions, verify documents, and ensure every term is clear to you before you pay. Property is one of the biggest investments you will ever make. Protect it with knowledge.
And remember, you don’t have to do it alone.
That’s where professionals come in.
Dennis Isong is a TOP REALTOR IN LAGOS. He helps Nigerians in the diaspora own property in Lagos, Nigeria, stress-free. For questions, WhatsApp/Call +2348164741041.