The reason why the first thing most young Nigerians do after they make some good money is to go and buy landed properties is simple.
That is the idea they sold to us growing up without proper context.
Your business made N20m. You rushed to put N16m in landed properties so you can feel like a land owner. Money you were supposed to use to grow the business that is making your money real time or invest it in yourself. The funny part is that the land most people buy won't appreciate in the next 10 years.
We have all been there. The problem is even IF you warn people, they will still do this because it is a strong programming.
Here is the context you need - Investing in landed properties is a good thing but it is a long term investment and should be done when you have a business that is giving you very good cashflow.