Sponsorship is all about entering into a partnership arrangement with family that has a large portion of land or have been

the custodian of the land due to ancestral heritage. Such land has not been surveyed nor registered with the state

government . The Land Use Act of 1978 stipulates that all land belong to the state government under the Global acquisition

arrangement, and the state government takes priority in any allocation of land within their teritory, and can go a step

further to declare interest any of such land . Where such interest is not declared by state government , the land is

therefore assumed to be free and so can be sponsored and registered by family. The need to have a partnership arrangement

with a third party is fueled by the fact that the family in question lacks the financial capacity to survey such land and do

the needful registration of the land with the land division in the state secretariat.

Dynamics


1. The family expresses willingness to enter into partnership arrangement with the counterpart or financier by verbal or

written form.

2 The counter-party or the financier in liaison with his lawyer accepts to finance the survey of the land and sign a written

agreement with the family witnessed and endorsed by his or her lawyer.

3 The financier and surveyor indicate whether the fees will be paid in form of cash or land exchange. mobilization fee is

advanced for work to commence.

4. Upon agreement , the family and the financier reaches an agreement on the sharing formula for the surveyed piece of land

, usually for every I acre of land surveyed , I plot of the land goes to the financier , that means that if a total of 100

acres of land is surveyed 100 plots of land will be allocated to the financier .

5 Upon surveying and allocation , the various survey plan will be taken to the land division of the state government

secretariat where the registration process will commerce

6. The financier will settle the agent with plots of land or the monetary value or both

Benefits of the sponsorship

1. The financier stands to benefit financially as average cost of acquiring the said piece of land per plot is greatly

reduced. Take for example , Neighboring land to the land in question may cost about N1,000,000.00. The cost of surveying say

50 acres of land is N1,500,000.00 and the financier will be allocated 50 plots of land, The total cost expended on the survey

of the land is N2,000,000.00 . The delivery cost per plot to the financier is then N2,000,000.00/50plots = N40,000.00

compared to the cost of a neighbor land of N1,000,000.00

2. The land generally appreciates reasonably every year as federal and state government projects are being carried out around

the area.

3. The financier has enough piece of land to lease or start up capital intensive projects

Risk

There are various risk involved in this kind of business , however such risk can be duly mitigated.

1. Risk of fraud/ Double Sale: This risk entails that the said piece of land do not belong to the selling family or it is

being resold by the family without appropriate notification to the persons which the land was sold initially.This risk is

mitigated by the fact that investigation would be thoroughly made and inquiring into the the land history will done.

Additionally, searches in land division of the state government will be made to ensure that the said piece of land have not

be registered before. Pictures and video recordings of the event will be made in case of future litigation.

2. The risk that the land is not free . This risk arises that fact that the land could have be marked for government

acquisition , and the family may or may not be aware of this fact before entering into this sponsorship arrangement with the

financier . The risk is mitigated by the fact that land will be duly charted and also inquiry will be made in the lands

division of the state government to ascertain if the state government has interest or future interest on the land or if their

is a government project that might require future expansion. Knowledge of this greatly reduces the chances of the risk

mentioned above.

3. The risk of default. This risk arises from the fact that the family may renege on their promise to allocate the said piece

of plots of land due to the financier. This risk is mitigated by the fact that a legal agreement document ( Deed of

Assignment

will be duly signed by the parties involved . Failure for any of parties involved to meet his or her obligations as

contained in the agreement , legal remedies will be sort after. However the personalities of the parties involved in the

arrangement will be investigated before enter into the agreement.

In view of the above we have various sponsorship arrangement opportunities available. They are as listed below.

1 • 47 hectares of Land Tiye – Idasho Village , Free Trade Zone, Lagos N27m (60% to sponsor & 40% to Surveyor . One(1) plot

per acre)

2. • 50 acres of land Aroromi Village , Ibeju Lekki. N6.6m ( Neighbor Lekki international Airport, Pan African University )

(60% to sponsor & 40% to Surveyor . One(1) plot per acre)

3.• 15 acres of land Shirinwan Village , Ibeju Lekki, Lagos. N3.6m( Neigbour Lekki international Airport, Pan African

University ) (60% to sponsor & 40% to Surveyor . One(1) plot per acre)

4.• 25 acres of Land , Oshoroko Village , Ibeju Lekki Lagos. N4.2m (Neigbour Lekki international Airport, Pan African

University ) (60% to sponsor & 40% to Surveyor . One(1) plot per acre)

5. 47 hectares of land Makio Akodo Village , ibeju lekki Lagos.N6m -108 acres ( Neigbour Lekki international Airport, Pan

African University ) (60% to sponsor & 40% to Surveyor . One(1) plot per acre)

Land For Excision Sponsorship



• 80 acres of land Bodije Awoyaya N25( 40% to Sponsor 30% tASG) & 30% to Villagers

• 200 acres of land Next to New international airport Elerangbe N35m ( 40% to sponsor , 20% to Facilitator(LASG) & 30% to

villages



Epe- Lagos



• 58.598 hectares of land Ilakokoro Village , ibeju Agbe N11m ( 40% to Sponsor 30% tASG) & 30% to Villagers

• 82,298 Hectares of land Laguku Village , Epe Lagos, Ibeju – Agbe N13m( 40% to Sponsor 30% tASG) & 30% to Villagers

• 51,594 Hectares of land Odele Village , Epe Ibeju Agbe N11m ( 40% to Sponsor 30% LASG) & 30% to Villagers

• 78.9209 Hectares of land Tepo Elias Village Epe Lagos , Ibeju Agbe N12m( 40% to Sponsor 30% tASG) & 30% to Villagers

Orunbo Village Community Epe Lagos

• 169.127 Acres of land Orunbo Epe Lagos Ibeju Agbe N11m ( 40% to Sponsor 30% tASG) & 30% to Villagers

• 170.127 acres of land , Salami Epe , Lagos Ibeju Agbe N11m ( 40% to Sponsor 30% tASG) & 30% to Villagers

• 153.127 acres of land Ipaye Epe Lagos beju Agbe N11m ( 40% to Sponsor 30% LASG) & 30% to Villagers


Call us

Eiffel Properties
Suite C13, Queens Shopping Complex Sangotedo
Phone:08057639299
email:eiffelconsultingng@gmail.com
website:www.eiffelpropertymanagers.com