When Land 'Appreciation' Is Just Naira Depreciation in Disguise

After examining Nigeria’s economy and the Naira, I realised land “profits” can be misleading. A friend paid ₦10 million for land in 2013. Today it’s valued at ₦70 million. But in 2013 that was about $64 500. In 2026 it’s only $52 000. Had he held dollars, his initial sum would now convert to around ₦87 million. That beats the ₦70 million land price. I’m not dismissing landed property entirely. It still offers stability and utility. But inflated Naira values can mask real losses. What’s your take?

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