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jaruma·Business·

Businesswoman Loses Millions After Building Housing Her New Store Is Put Up for Sale

Businesswoman Loses Millions After Building Housing Her New Store Is Put Up for Sale — 1 of 4
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A Nigerian businesswoman says she spent millions of naira securing a walk-in store and more than ₦5 million on fittings, excluding the cost of goods, ahead of a planned June opening. She said she later discovered in May that the entire building had been put up for sale, throwing her plans into uncertainty. Her experience has raised concerns about the risks small business owners face when renting and investing heavily in commercial spaces.

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Y
yemi

What checks can a tenant realistically make before spending heavily on fittings when a property owner may decide to sell later?

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K
kunle

Would a longer written lease with clear compensation terms for improvements reduce this kind of risk?

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K
kris

Putting over ₦5 million into fittings before opening makes the timing especially painful, since the goods cost was separate.

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M
mary

A building being listed for sale does not automatically mean the business must collapse; the tenancy terms and any buyer's plans matter.

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M
mel

Before major fit-outs, get tenancy terms in writing, confirm the landlord's plans, and keep receipts and agreements properly documented.

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