The rush to own a house in Nigeria has never been driven strictly by investment logic. Historically, it has been driven by uncertainty, by the fear that once the breadwinner’s income dips, or once he dies, his dependants may be left exposed. That is the context in which Nigerians rush to own property. Those who can afford more even go as far as building houses for rent, because even when it is not the most profitable economic venture, it is the only form of hedging most Nigerians know or trust.
At the heart of this mindset is also the awareness that there is no welfare system strong enough to protect one’s dependants. So breadwinners do what they feel they must do.
This same instinct plays out across the country, even in public service. Officeholders rush to divert public resources entrusted to them in order to acquire property for themselves, aware that the “opportunity” may not return, and that there is no reliable welfare system to cushion them when the income stops. In fact, their families and friends are often the first to remind them of this. In the end, personal financial security is prioritised over public welfare, and this is partly why we are where we are: a country with one of the widest inequality gaps on the planet.
Those who argue against the wisdom of spending one’s savings to build a house are often speaking from a different reality. Some have lived abroad, where the desperation of the struggling class to own property is not always considered a smart move. Others are financially informed enough to know there are better investment options than dumping all one’s money into property while denying oneself a decent life. But Nigeria is a breadwinner’s nightmare. Every day, you live with the fear that your dependants may not be able to afford the next rent if your income, or your existence, stops.
Where I draw the line is in building a mansion that nobody in your family can maintain after you are gone. I have seen this happen in Abuja, where families had to sell a large family house just to buy a smaller, more manageable one to live in.
So, perhaps both sides of the argument can agree on where to draw the line. Owning a house in Nigeria is not a black-and-white matter. It is not always the smartest investment, but it is often the most emotionally and socially understandable one.
Exactly a year since I was appointed as the Special Assistant on Digital Innovations to His Excellency @RealAARahman.
Thank you Your Excellency for the opportunity to serve under your leadership. I'm grateful for the journey so far & ready for more impact!
A FINAL UPDATE ON THE CASE OF LATE QOYUM ABDULYEKEEN ISHOLA.
The Kwara State Police Command wishes to provide an important update regarding the investigation into the tragic incident involving the loss of Qoyum Abdulyekeen Ishola on 4th September, 2024.
A maze of manipulation. Unimaginable atrocities. One of the most powerful religious figures of the 21st century.
#BBCAfricaEye investigates.
Three films. One podcast. Coming tomorrow.
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Citizens lament lack of development in Boriya - Shiya ward, Baruten LGA
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The lamentation was made during the CEMP needs assessment conducted by ENetSuD across the communities in Baruten LGA.
https://t.co/bR1bdh40pW
Advice by President of Religious Affairs of the Two Holy Mosques Sheikh Abdur Rahman As Sudais
My dear brothers in Islam:
▪️ The Holy Qur’an is the life of the soul, and the best thing to liven up times. In the corridors of the Two Holy Mosques there are Qur’anic circles, so benefit from them. In memorizing and correcting the recitation of Allah’s clear verses.
▪️ If you have a religious problem regarding your worship and rituals; Be guided by asking people of knowledge in the Two Holy Mosques, through the “Answer to Questioners” booths.
▪️ Take advantage of your presence within the confines of the Two Holy Mosques; By benefiting from the legal courses and scientific lessons held.
If you've got the funds, it's a good idea
to invest in an inverter. Fuel prices are high, so it's a one-time investment. Let me know if you're in Abuja or Ilorin, and I'll connect you with a reliable source.#AbujaTwitterCommunity#ilorintwittercommunity