Suraj Oyewale also known as Sir Jarus, a Real Estate Developer and CEO of Jaurus Homes and Investments Limited featured on Part 2 of Financeblog9ja’s “Nigerians Surviving Nigeria” X Space Series.
Hosted by Titilayo Mercy Babajide, the CEO of Financeblog9ja, the session highlighted practical strategies for Nigerians navigating Homeownership, House Rent and Property Investments in today’s economy.
Kicking off the conversation with his career journey, Sir Jarus shares core career insights and actionable key takeaways for everyday Nigerians.
From Corporate Finance to Real Estate Mastery
The Foundations
While Sir Jarus holds a degree in Economics, he emphasizes that a degree alone rarely defines a career trajectory. Instead, practical experience, high-demand skills and specialized credentials matter most.
During his National Youth Service Corps (NYSC) year, Sir Jarus proactively enrolled in the Institute of Chartered Accountants of Nigeria (ICAN) professional program. Completing his ICAN certification immediately set him apart in the job market, landing him his first official post-NYSC role in corporate accounting.
The Corporate Career Ladder
Sir Jarus built a distinguished corporate finance and tax advisory track record across major blue-chip institutions:
- Oando PLC: Commenced his corporate journey as a dedicated junior staff member, learning operational finance fundamentals.
- Savannah Energy: Joined as an Accountant and consistently demonstrated technical leadership, eventually rising to become Tax Manager.
- PwC Nigeria: Expanded his high-level tax strategy expertise as a Senior Tax Manager at one of the world’s leading professional services firms.
The Transition to Jarus Homes
His transition into real estate was powered by a mastery of financial modeling, risk management and strategic capital allocation developed across his accounting and tax career.
When asked about the key drivers behind his corporate ascent and eventual transition to founding Jarus Homes, Sir Jarus highlighted three core pillars:
- Proactive Visibility: He deliberately volunteered for cross-functional committees and strategic projects, ensuring his work was visible to top executive leadership.
- Professional Certification: Earning his ICAN credential early provided immediate authority and technical edge over peers.
- Mentorship: He credits exceptional managers and corporate bosses who recognized his value and helped accelerate his leadership path.
Question: Some youths don’t believe in living with their family after getting their first job. At what financial point should a Gen Z or Millennial move out of their parents’ house to rent their own apartment?
Strategic Patience vs. Societal Pressure
Sir Jarus challenges the popular belief among Gen Z and Millennials that getting a first job automatically signals it is time to move out. In today’s economic climate, premature rent expenses can severely handicap a young professional’s long-term wealth accumulation.
His core rule for young earners is to maximize free or subsidized housing for as long as it is convenient.
Whether living with parents, older siblings, or relatives, staying at home during your early career years acts as an economic buffer. It allows you to build an emergency fund, acquire high-demand skills and accumulate foundational investment capital rather than funneling a significant portion of your entry-level salary into rent, utility bills and basic maintenance.
When Should You Actually Move Out?
While leveraging family accommodation is smart, Sir Jarus notes that it should not turn into permanent dependency. You should transition into your own rented space when:
- You Have Built a Financial Safety Net: You have steady income and sufficient savings to cover upfront rent, agency fees, caution fees, and at least 3–6 months of living expenses.
- You Avoid Becoming an Operational Burden: Your presence no longer imposes financial, spatial or emotional strain on your hosts.
- You Make Room for Others: Moving out frees up domestic space for younger siblings or family members who are just starting out and need the same leg-up in their careers.
Leading by Example
To illustrate this principle, Sir Jarus shared his personal entry into the Lagos job market after completing his NYSC service:
Despite securing a corporate accounting role that paid enough for him to rent his own apartment immediately, he chose not to move out right away. Instead, he lived with his brother for a year.
By suppressing the urge to match social expectations, he saved the bulk of his income, stabilized his personal finances and rented an apartment from a position of financial strength rather than living paycheck to paycheck.
Pride in independence should not beat financial strategy. Renting early consumes seed capital, but staying at home strategically accelerates your path to building wealth.
Question: While real estate is widely praised, some investors argue that property investment is not profitable. In your opinion, what common mistakes can make property investment unprofitable in today’s economy?
The Profitability in Real Estate
While critics often point to illiquidity and high maintenance costs to argue that real estate isn’t profitable, Sir Jarus firmly rejects this narrative. Drawing from over a decade of hands-on property investing and development, his verdict is clear: Real estate remains exceptionally profitable, when executed correctly.
He notes that the negative perception around property investments is largely driven by a few “bad eggs” in the industry whose poor practices end up overshadowing the impactful, high-value work being done by genuine developers.
The Critical Mistakes Investors Make
According to Sir Jarus, real estate may not generate expected returns primarily due to flawed strategy and poor execution rather than market limitations:
- Ignoring the “Location” Factor: Location is the single most critical factor determining property appreciation and rental yield. Investing in areas without clear infrastructure roadmaps, economic drivers, or population inflow severely suppresses capital growth.
- Partnering with Unvetted Developers: Engaging developers who lack structural integrity, legal transparency, or operational track records often leads to project delays, cost overruns, and severe legal entanglements that wipe out profit margins.
- Failing to Leverage Industry Expertise: Attempting to navigate land acquisition, title perfection and property development without credible guidance exposes investors to unnecessary market risks and fraudulent deals.
A Proven Track Record of Profitability
Reflecting on his personal investment journey over the past decade, Sir Jarus highlighted that every single property project he has spearheaded or invested in has delivered strong, positive returns.
The key to unlocking consistent profitability lies in partnering with credible developers whose technical expertise and market insights actively protect and maximize investor capital.
Real estate doesn’t fail; bad due diligence and poor location choices do. Profitability is a direct result of choosing the right location and working with credible Developers who prioritize long-term value over quick wins.
Question: What are the most common real-estate or property scams in Nigeria right now and how can buyers protect themselves from losing their money?
According to Sir Jarus, avoiding scams requires moving beyond blind trust and conducting thorough legal, physical and financial due diligence before committing capital.
Most Common Real Estate Scams in Nigeria
- Non-Delivery of Property After Payment: Developers or vendors collect full or partial payments for off-plan builds or land plots but fail to deliver the asset, frequently abandoning projects or disappearing entirely.
- Sale Non-Existent Land: Promoters sell land plots situated in marshy, waterlogged, or completely inaccessible areas, sometimes entirely lacking layout surveys or access roads, making physical development virtually impossible.
- Exaggerated ROI & Speculative Hype: Unscrupulous sellers lure buyers using unrealistic projections of future infrastructure, government developments, or capital appreciation that have no factual or regulatory backing.
- Unregulated “Property Buy-Back” Return Schemes: Promoters collect funds under the guise of real estate investment, promising guaranteed fixed periodic returns. Sir Jarus cautions that many of these operate like unregistered financial schemes where capital risk is poorly managed or hidden.
How Property Buyers Can Protect Their Capital
- Demand Physical Verification: Never purchase land based solely on flyers, promotional videos, or 3D renders. Conduct an independent physical inspection to verify accessibility, topography, and boundaries.
- Perform Independent Title Due Diligence: Engage an independent property lawyer and licensed surveyor to verify titles at the State Land Registry and check for government acquisitions, encumbrances, or court disputes.
- Verify Track Record Over Marketing Claims: Choose developers with a proven history of completed projects and delivered titles rather than relying on aggressive marketing campaigns or unverified projections.
- Separate Real Estate from Fixed-Income Speculation: Treat real estate acquisitions as real asset investments rather than high-yield guaranteed cash schemes. Ensure any structured finance product complies strictly with regulatory standards.
Question: Which areas do you think the government is failing in the housing sector? If you had the power to implement one housing policy change in Nigeria today to ease the burden on citizens, what policy would it be?
Where Housing Policies Falls Short In Nigeria
Nigeria’s severe housing shortfall, currently estimated at over 30 million units is compounded by systemic bottlenecks that inflate costs for Developers and buyers alike. Sir Jarus outlined three key structural areas where government intervention is urgently needed:
- Uncontrolled Inflation in Building Materials: The sky-rocketing costs of cement, steel, and imported construction inputs directly inflate property development budgets. Without targeted relief or local manufacturing incentives, these input costs get passed directly to home buyers and tenants.
- Cumbersome & Costly Land Titling: Bureaucracy, excessive processing fees, and delayed land allocations from state governments artificially drive up primary land prices. Acquiring land directly from government authorities remains out of reach for many average earners due to high entry barriers.
- Inadequate Mass Housing Supply: Current public housing initiatives fail to match the sheer scale of urban migration and demographic growth, leaving low- and middle-income families priced out of formal homeownership.
The Game-Changing Housing Policy Reform
If given the mandate to implement a single legislative or executive reform to ease the housing burden on citizens today, Sir Jarus points directly to reforming land administration.
By digitizing, expediting and subsidizing the public land allocation process, the government can:
- Lower Development Overhead: Reducing initial land acquisition costs directly drives down overall construction budgets and final sales prices.
- Encourage Private Investment: Transparent titling encourages verified developers to build scalable, affordable mass-housing schemes.
- Expand Formal Ownership: Enabling direct access to affordable government-allocated land allows average earners to transition into homeownership faster and with legal security.
Question: What is one final advice you would give to a Nigerian currently stressed about paying their upcoming rent or trying to buy their first property?
Final Advice for Nigerians Navigating Rent Stress & Housing Goals
Closing out the fireside chat, Sir Jarus addressed the growing pressure facing everyday Nigerians, whether they are struggling to meet upcoming rent deadlines or feeling overwhelmed by the financial barrier of owning a home. His final advice centers on two actionable principles: uncompromising due diligence and taking incremental action.
1. Always Prioritize Rigorous Due Diligence
Whether you are signing a lease agreement or purchasing your first plot of land, speed should never replace verification.
Sir Jarus stresses that no matter how urgent your housing needs are, never rush into a transaction without proper legal and physical checks. Verifying land titles, inspecting property topography, and reviewing tenancy terms protect you from fraud and unexpected financial liabilities that could compound your stress later.
2. The “Just Start” Principle for Homeownership
For aspiring homeowners paralyzed by the sheer cost of building a house in today’s economy, Sir Jarus offers a powerful mindset shift: Start small and build incrementally.
If you attempt to calculate the full cost of acquiring land, clearing, laying foundations, and completing a modern building all at once, the figures will almost certainly intimidate you into inaction. Instead:
- Secure the Land First: Focus your immediate capital on acquiring a verified piece of land.
- Build Commitment: Once you own the land and lay the foundation, your financial focus naturally shifts. Your mind stays engaged on the project, and you will find ways to allocate future savings toward completing it phase by phase.
- Progress Over Perfection: Building wealth through real estate is a marathon. Completing a property step-by-step is far better than waiting until you have “all the money” before making your first move.
