Why Novarick Homes Is Pushing Young Nigerians Towards Early Property Ownership

Fadekemi Ajakaiye

As the cost of living and housing continues to rise across Nigeria, more young professionals are beginning to rethink their approach to long-term financial security, with property ownership increasingly seen as one of the few reliable ways to build wealth and stability early in life.

In response to these trends, Novarick Homes has launched its “Under 40 Landlord” initiative, a campaign designed to encourage Nigerians below the age of 40 to begin investing in landed property through flexible and structured payment plans.

The initiative, which is tied to the company’s Ayomide Joy City estate in Moniya, Ibadan, is targeted at young entrepreneurs, salary earners, and business owners who may have previously considered land ownership unattainable due to high entry costs and the burden of outright payment.

Under the programme, subscribers can acquire a 300 square metre plot through monthly payments spread across 24 months, while larger plot options are also available under similar flexible arrangements.
Speaking on the reason behind the initiative, the Chief Executive Officer of Novarick Homes, Noah Ibrahim, said the company believes many young Nigerians have delayed property ownership because they see it as something reserved for older and financially established individuals.

“There is a growing culture where many young people believe they must first attain a certain level of wealth before they can begin to think about owning property. What we are trying to change is that mindset. We believe land ownership should not be something people postpone until their forties or fifties,” he said.

According to him, the company’s goal is to create a pathway that allows younger Nigerians begin building assets early, rather than spending years waiting for the “perfect time” to invest.

“When people start early, they give themselves more room for growth, appreciation, and long-term financial stability. We have seen people spend years paying rent and postponing ownership because they assume it is out of reach. The Under 40 Landlord initiative was created to simplify that process and make it more realistic for working-class Nigerians,” Ibrahim added.

Ayomide Joy City is located within the Moniya axis of Ibadan, an area which has witnessed increasing residential and infrastructural development in recent years. The estate is situated within proximity to landmarks including the Obafemi Awolowo Train Station, University of Ibadan, and the Ibadan Dry Port.
The company said the estate is being developed with features such as road infrastructure, recreational areas, power supply, green spaces, and other residential amenities aimed at creating a structured community environment.

Chief Operating Officer of Novarick Homes, Collins Oforgu, said the initiative is also focused on changing how younger Nigerians emotionally connect with property ownership.

“This initiative is not just about selling plots of land. It is about helping young Nigerians begin to see themselves differently. A lot of people under 40 are already building careers, businesses, and income streams, but many still believe property ownership is too far ahead of them. We want to change that perception,” he said.

Oforgu added that the company deliberately structured the campaign around accessibility, transparency, and early engagement.

“We wanted to remove some of the barriers that discourage people from taking the first step. That is why the payment structure is spread out, documentation is clearly defined, and subscribers receive immediate confirmation and allocation once they come on board. For many young people, the hardest part is simply starting,” he said.

According to the company, subscribers under the campaign will also have access to periodic site inspections and a planned induction event aimed at creating a community of young property owners.
The campaign is expected to run across social media platforms including Instagram, TikTok, WhatsApp, and X, alongside collaborations with content creators and online influencers targeting younger audiences interested in entrepreneurship, lifestyle, and financial growth.