ADVERTISEMENT

Property owners rejoice after Boko Haram retreat

The Boko Haram retreat from Maiduguri, Borno state, has resulted in an increase in sales and property building.

Northern property owners are having the best time, right now.

Previously, the stronghold of fighters and a frequent target for its suicide bombers, Maiduguri, in particular, is experiencing a positive change in real estate.

Some property owners have admitted to making as much a 500% profit.

ADVERTISEMENT

“I made 300 to 500 percent profit on some of the houses I bought but others didn’t yield as much … This area in particular is hot, prices will improve or remain steady,” said Modu Mala.

Mala said he was one of the few, who bought dozens of land and property from residents, desperate to leave the Boko Haram’s violence, when it was at it's peak.

Now, these estimated 1.5 million returnees have to buy back their houses at higher rates.

One of such returnees, Abdullah Kyari, said, "at first, we thought the whole city will fall to the fighters, that’s why I sold my house and left.

I now want my house back but the current owner is refusing to sell it even at twice the price I sold it to him.”

ADVERTISEMENT

This real estate fortune can be attributed to the Nigerian military, who have reportedly began a wide-ranging military operation against the terrorist group.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Trump becomes 1st ex-US president to bag criminal conviction after hush money trial

Trump becomes 1st ex-US president to bag criminal conviction after hush money trial

Fubara promises investment-friendly policies in Rivers

Fubara promises investment-friendly policies in Rivers

WAEC maths exam peaceful in Anambra, Ebonyi, Enugu despite sit-at-home threats

WAEC maths exam peaceful in Anambra, Ebonyi, Enugu despite sit-at-home threats

Sanwo-Olu swears in 13 new judges, boasts Lagos has the best judicial system

Sanwo-Olu swears in 13 new judges, boasts Lagos has the best judicial system

Nnamdi Kanu files brief of appeal against trial court’s ruling

Nnamdi Kanu files brief of appeal against trial court’s ruling

Tinubu thanks Wike for unwavering support as he inaugurates flyover in FCT

Tinubu thanks Wike for unwavering support as he inaugurates flyover in FCT

Emir Sanusi appoints new ward head of Kofar Mazugal

Emir Sanusi appoints new ward head of Kofar Mazugal

Father sells 6 biological children to traffickers in Sokoto, buyers arrested

Father sells 6 biological children to traffickers in Sokoto, buyers arrested

I'm sacrificing my security vote for Osun's development – Adeleke

I'm sacrificing my security vote for Osun's development – Adeleke

Pulse Sports

Olanrewaju Kayode Net Worth: Profile, Age, Salary, Wife, House, Cars, How Rich is he in 2024?

Olanrewaju Kayode Net Worth: Profile, Age, Salary, Wife, House, Cars, How Rich is he in 2024?

Naija Stars Abroad: Maduka Okoye justifies Finidi George's call, forgotten Super Eagles star dims red-hot Ademola Lookman, Osimhen

Naija Stars Abroad: Maduka Okoye justifies Finidi George's call, forgotten Super Eagles star dims red-hot Ademola Lookman, Osimhen

No space for Lookman, Osimhen as only two Africans make Forbes’ Top 50 highest-paid athletes

No space for Lookman, Osimhen as only two Africans make Forbes’ Top 50 highest-paid athletes

Lookman frontrunner for NFF Player of the Year after historic Europa League heroics

Lookman frontrunner for NFF Player of the Year after historic Europa League heroics

ADVERTISEMENT
ADVERTISEMENT