House or Stocks: What’s the Smartest Investment in Nigeria Today?

My uncle built ten blocks of flats in Surulere over 20 years while working as a civil servant. Today, he earns about ₦40 million a year in rent and lives comfortably. My cousin argues that if he had that money today, he would invest in stocks or other assets instead. He recalls the years when a large chunk of my uncle’s salary went into cooperative savings and property construction. He also highlights the stress of dealing with maintenance, tenants, and illiquid capital. I still believe property offers security, steady appreciation, and generational wealth. Some friends think business ventures or the stock market give better returns and flexibility. What do you think? Is buying a house the best long-term investment for Nigerians, or should we focus on other assets first? Share your views below.

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