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Investing in Lagos Waterfront Properties: Opportunities and Risks, by Dennis Isong

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As the sun dipped into the Lagos Lagoon, Amara stood on her balcony in Victoria Island, watching the city lights dance on the water.

Five years ago, she’d taken a bold gamble, investing her life savings in this waterfront property when others called her crazy.

Now, as luxury developments sprouted along the coastline like mushrooms after rain, her investment had tripled in value.

But with each new high-rise came fresh challenges – environmental concerns, infrastructure strain, and the displacement of local fishing communities.

Still, as she sipped her evening tea, Amara knew that in Lagos, change was the only constant thing. This market segment comes with its own set of opportunities and challenges that potential investors must carefully consider.  

Market Potential and Investment Opportunities Lagos’s waterfront properties represent some of the most premium real estate in West Africa.

The combination of scenic views, prestigious locations, and limited supply has historically driven strong appreciation in property values.

Luxury developments along areas like Banana Island and Eko Atlantic City have demonstrated remarkable returns on investment, with some properties experiencing value appreciation of 15-20% annually.  

The growing affluent population in Lagos, coupled with increasing demand for high-end residential and commercial spaces, creates a robust market for waterfront properties.

International companies seeking prime office locations and wealthy individuals looking for prestigious addresses continue to drive demand.

Many waterfront areas struggle with inadequate road networks, inconsistent power supply, and insufficient drainage systems.

Additionally, the tourism and hospitality sector’s growth has sparked interest in waterfront hotels and recreational facilities.  

Infrastructure and Development Challenges

Despite the attractive prospects, investing in Lagos waterfront properties comes with significant infrastructure challenges.

Many waterfront areas struggle with inadequate road networks, inconsistent power supply, and insufficient drainage systems.

The risk of flooding, especially during the rainy season, requires substantial investment in flood control measures and proper foundation work.   Environmental concerns also pose significant challenges.

Coastal erosion threatens some waterfront properties, necessitating expensive shoreline protection measures.

Rising sea levels and climate change impacts require careful consideration in construction planning and long-term maintenance strategies.

Investors must factor in these additional costs when calculating potential returns.  

Legal and Regulatory Considerations

The legal framework surrounding waterfront property investment in Lagos requires careful navigation.

Title verification is crucial, as many waterfront areas have complex ownership histories involving multiple stakeholders, including traditional rulers, government authorities, and private entities.

The requirement for various permits and approvals from bodies like the Lagos State Environmental Protection Agency (LASEPA) and the Nigerian Inland Waterways Authority (NIWA) can lead to lengthy development timelines.

Investors must also be aware of recent regulatory changes affecting waterfront development.

The Lagos State Government’s efforts to regulate waterfront development through initiatives like the Lagos State Waterfront Infrastructure Development Law have introduced new compliance requirements. Understanding and adhering to these regulations is essential for protecting investments and ensuring project viability.  

Investment Strategies and Risk Mitigation

Successful investment in Lagos waterfront properties requires a well-thought-out strategy and robust risk management approach. Here are key considerations for potential investors: 

1. Due Diligence:

Conduct thorough legal and technical due diligence, including title verification, environmental impact assessments, and soil testing. Engage reputable local lawyers and consultants familiar with Lagos real estate markets.

2. Phased Development:

Consider implementing projects in phases to manage cash flow and adapt to market conditions. This approach allows for better risk management and the ability to adjust strategies based on market response.  

3. Infrastructure Investment:

Budget for significant infrastructure development, including private power generation, water treatment facilities, and flood control measures.

While costly, these investments can enhance property values and attract premium tenants or buyers.

4. Market Positioning:

Carefully consider target market segments and development types. Mixed-use developments that combine residential, commercial, and recreational spaces often prove more resilient to market fluctuations.

  5. Local Partnerships:

Establish strong relationships with local stakeholders, including community leaders, government officials, and industry professionals. These relationships can prove invaluable in navigating challenges and identifying opportunities.  

6. Environmental Protection:

Invest in sustainable development practices and environmental protection measures. This not only helps protect the investment but can also provide marketing advantages and potential premium pricing opportunities.  

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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JUST IN: Filling stations shut after Dangote Refinery’s petrol price drop

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Some filling stations and petroleum products marketers, partners of Dangote Refinery’s petrol, temporarily shut down for the past five days after the latest premium motor spirit price drop by the 650,000 barrels per day refinery.

Recall that for the past five days, MRS filling stations in Abuja, along Kubwa Expressway, and others have not dispensed fuel since Dangote Refinery announced its ex-depot fuel price reduction to N835 per litre on Tuesday, 16 April, 2025.

An official of MRS filling station, who preferred anonymity because he is not authorised to speak said the filling station is grappling with the loss incurred after Dangote’s latest price adjustment.

“It is because of Dangote’s latest price drop. The filling station had old stock, which it couldn’t sell at a loss.

“This is the reason we have shut down since Tuesday. We may reopen on Tuesday,” he said.

Meanwhile, another official at the filling station said the retail outlet is billed to reopen on Tuesday, noting that it has been undergoing minor maintenance.

“We have been on maintenance for the past few days, which is the reason the station was shut. We will reopen on Tuesday,” he said.

According to him, the filling station would commence dispensing at the new price of N910 per litre from Tuesday.

Other partners of Dangote Refinery, such as AP, Ardova, and Optima, are dispensing fuel between N910 and 920 per litre in parts of Abuja as of Monday, 21st April 2025.

Reacting to the development, the National President of Petroleum Retailers Outlets Owners Association of Nigeria, Billy Gillis-Harry, said the latest fuel price drop affected the purchasing power of petrol retailers and marketers.

According to him, indiscriminate price adjustment, whether downward or upward, is not good for the petroleum downstream sector and the Nigerian economy.

At every point, if prices of petrol are indiscriminately changed without any clearly defined economic reason, the chances that it will impact on the buying power of retailers and marketers are there.

“It is not good for business, the economy, and Nigerians.

“Prices of petrol change for reasons that are understandable with proper information to retailers,” he said.

Recall that Gillis-Harry had earlier called for a six-month fuel price stability plan to halt fluctuations.

Earlier, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, had hinted that marketers having old stocks of fuel will incur billions of losses following Dangote’s latest fuel price drop.

Last week became the second time the $20 billion refinery reduced its fuel price nationwide. This indicates a combined downward ex-depot price drop of N45 per litre.

Dangote Refinery had, on 10 April, reduced its gantry price of petrol to N865 per litre.

However, the ex-depot fuel price had further dropped to N835 per litre.

This comes after the federal government’s renewed commitment to the indefinite continuation of the naira-for-crude deal with other local refiners and the drop in global crude prices to around $66 per barrel.

The Nigerian National Petroleum Company Limited recently reduced its retail price to N935 per litre for customers in Abuja in response to Dangote Refinery’s latest price cut.

This means that Nigerians currently buy petrol at between N890 and N950 per litre, depending on the location nationwide.

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NNPC’s Olufemi Soneye Emerges NIPR Spokesperson for 2025

Responding, Soneye attributed his recognition by the NIPR with its most exalted spokesperson’s award to the dedication of the entire team at the NNPC.

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Soneye (middle) receive NIPR’s prestigious award .

The Chief Corporate Communications Officer, Nigerian National Petroleum Company Limited (NNPC), Mr. Olufemi Soneye, has emerged the Nigerian Institute of Public Relations (NIPR) spokesperson of 2025.Announcing the award, the NIPR described Soneye as a “diligent” spokesperson, characterising him as “a strategist.” Soneye’s capacity to shape public opinion, also stood him out of the crowd of spokespersons, according to the Adjudication Committee, Chairman, Dr. Shaibu Hussein.

Represented by a member of the committee chairman, Lami Tuiaka, the chairman said the moment to the conclusion of the award was rigorous and demanding. He also predicated Soneye’s victory on his communication skills, crisis management and overall impact.

“Our committee comprising communication scholars, Public Relations practitioners, and media personalities worked tirelessly to review the nomination, assess performances and deliberate on the winner.

I must report that we carefully examined each nomination, considering factors such as communication skills, crisis management and overall impact,” he said.

Presenting him the plaque at the National Spokespersons Award 2025, chairman of the event Deputy Chairman, House Committee on Power, Hon. Joshua Audu, said the institute would celebrate Soneye throughout 2025 as the current NIPR spokesperson award winner.

He said: ” On behalf of the NIPR Award Night 2025, I have the honour and privilege to present the Spokesperson of the year 2025. Please join me to celebrate our latest spokesperson that we will celebrate throughout 2025 in the person of Olufemi Soneye.”

Responding, Soneye attributed his recognition by the NIPR with its most exalted spokesperson’s award to the dedication of the entire team at the NNPC.

Amid a standing ovation, he said: “We are all happy and I am deeply honoured to receive this award tonight from NIPR. This award reflects the dedication of our entire team and we want to thank NIPR for all they have been doing.”

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Mission to boldly grow food in space labs blasts off

ESA is funding the research to explore new ways of reducing the cost of feeding an astronaut, which can cost up to £20,000 per day.

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Artwork: The experiment will orbit the Earth for three hours before returning to Earth and splashing down off the coast of Portugal.

(BBC): Steak, mashed potatoes and deserts for astronauts could soon be grown from individual cells in space if an experiment launched into orbit today is successful.

A European Space Agency (ESA) project is assessing the viability of growing so-called lab-grown food in the low gravity and higher radiation in orbit and on other worlds.

ESA is funding the research to explore new ways of reducing the cost of feeding an astronaut, which can cost up to £20,000 per day.

The team involved say the experiment is a first step to developing a small pilot food production plant on the International Space Station in two years’ time.

Lab-grown food will be essential if Nasa’s objective of making humanity a multi-planetary species were to be realised, claims Dr Aqeel Shamsul, CEO and founder of Bedford-based Frontier Space, which is developing the concept with researchers at Imperial College, London.

“Our dream is to have factories in orbit and on the Moon,” he told BBC News.

“We need to build manufacturing facilities off world if we are to provide the infrastructure to enable humans to live and work in space”.

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