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The Volatility Of Nigerian Real Estate, And Why Bitcoin Makes More Sensebitcoinmagazine.com/markets/the-volatility-of-nigerian-real-estate-and-why-bitcoin-makes-more-sense?utm_source=carrot&utm_medium=partner&utm_campaign=carrot_share
2937 sats \ 1 comment \ @nivek 12 Dec 2023 bitcoin
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0 sats \ 0 replies \ @k00b 12 Dec 2023
According to the Land Use Act, promulgated in 1978, which regulates land usage and ownership in Nigeria, all land in the different states is vested in the governors, held in trust for the people, and statutory or customary rights of occupancy by individuals or organizations are granted by the governor for various purposes. It is also stated that the governor holds the power to revoke right of occupancy, for overriding public interest and purposes, such as road construction, urban developments, mining, mineral exploitation and the likes.
Eminent domain is one of those things that no one cares much about. They imagine they'll never be in the minority affected by the laws. You can understand the motivation behind such laws but even if they are only ever applied fairly they undermine what we think owning land means.
Tangent but I love nearly every story coming out of Africa. It's the like geopolitical underdog story, a geopolitical version of the movie Rudy.
I get similar vibes from stories coming out of India and Brazil, but I feel like the stories from Africa don't penetrate the mainstream nearly as well.
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