Why Nigeria’s Property JV Deals Stall: The Cash Flow Myth

One of Nigeria’s biggest property myths is that developers are flush with cash. In reality, many own expensive land but struggle to pay for excavation, reinforcement or roofing. Land is illiquid until sold, refinanced or leveraged, so cash flow gaps often stall projects. Contractors face similar pressures. They buy materials upfront, pay labour weekly and deal with sudden price hikes. Not every mobilisation fee signals fraud—often it covers genuine working capital needs. Most joint ventures fail not because the land lacks value, but because parties underestimate the working capital needed after signing. A successful JV needs three things: land, working capital and competent execution. Missing any one can derail the entire project. What do you think causes most Nigerian JV projects to collapse? Unrealistic expectations? Poor feasibility studies? Cash flow problems? Greed? Weak legal documentation? Share your experience.

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