I just laugh when I see 2/3/4 bed flats advertised for over #50m (maybe overpriced) and the owner expects full payment. This is the reason why it is difficult to liquidate expensive real estate properties in Nigeria (poverty capital).

No wonder I see many unoccupied buildings and sellers placing advert on nairaland for more than a year with reminders. It will be easier renting it out than selling at full payment. How many elites, celebrities or politicians do we have? Desperate youths who desire to buy such properties engage in criminal or ridiculous acts.

We compare ourselves with those in advanced countries.
If not for 5 to 10 years mortgage plans, most of them (including Nigerians in diaspora) cannot boast of owning a property.

Can someone in United Kingdom, earning £2K monthly salary, afford full payment for a 2/3 bed flat of £200K?

Nigeria's poor economy outlook is the reason why our young men are refusing to marry early. Apart from wedding budget, they have to save towards one or two year full rent payment for accommodation, while renting is per month in places we desire to rush to.

All is well.

This is nice but not realistic for even the middle class citizens
with average monthly income of #100--150K.

This one by FG makes sense and looks realistic for salary earners to pay without defaulting.

If Dangote had hijacked the idea, Nigerians will shout monopoly.

I expect to see more investment strategies in 1/2/3 bedroom flats worth #2--5m.
Most especially, is a mortgage plan of #30-60K per month after a 20% down payment.