How the ‘Japa’ Trend Fuels Nigeria’s Endless Land Cycle

The article discusses the trend of ‘japa’ among Nigerians, who sell land to fund relocations abroad due to economic hardships. This phenomenon creates a cycle as many seek to repurchase land in Nigeria after earning in foreign jobs. Consequently, the demand for land, especially in urban centers like Lagos, has surged, leading to significant price increases amid rising inflation.

Many Nigerians are opting to relocate, colloquially referred to as “japa,” in search of better living conditions, driven by severe economic hardships that hinder access to basic necessities. This intense desire to emigrate often compels individuals and families to sell their properties, predominantly land, to finance their relocation, marking a significant commitment to a future abroad.

In summary, the ‘japa’ trend illustrates a cycle wherein Nigerians sell land to migrate, only to work abroad to invest in land back home again. A growing demand for land, spurred by remittances from the diaspora, has caused land prices to escalate, particularly in urban areas like Lagos. The adverse economic conditions and high inflation rates further compel residents to view land investment as a hedge against financial instability.

Original Source: businessday.ng