Business
Places You Can Live Comfortably on the Lagos Island and Mainland, by Dennis Isong
VI is the business hub of Lagos, but it also has amazing residential areas. You’ll find top-notch apartments, good schools, fine dining, and beaches. The only downside? The rent is not smiling. But if you want to live close to work and still enjoy premium comfort, VI is an excellent choice.
You know how Lagos is, right? One minute, you’re stuck in traffic for three hours, and the next, you’re enjoying the best suya of your life.
But let’s be honest—where you live in Lagos can make or break your experience.
That’s why we’re here, to help you find places you can comfortably live, whether you prefer the Island’s flashy vibes or the Mainland’s rugged charm.
Best Places to Live on the Island

▪︎Lagos Island and Mainland \ Shutterstock.com
If you love the soft life and don’t mind paying premium prices, the Island is for you. Here are some top areas to consider:
1. Ikoyi
If Lagos had a VIP section, it would be Ikoyi. This place is home to the rich and powerful. The roads are clean, the houses are luxurious, and security is top-notch.
Expect well-paved streets, high-end restaurants, and some of the most expensive real estate in Nigeria. If your wallet can handle it, Ikoyi is one of the best places to live in Lagos.
2. Victoria Island (VI)
VI is the business hub of Lagos, but it also has amazing residential areas. You’ll find top-notch apartments, good schools, fine dining, and beaches. The only downside? The rent is not smiling. But if you want to live close to work and still enjoy premium comfort, VI is an excellent choice.
3. Lekki Phase 1
Lekki Phase 1 is for those who want the Island experience but can’t quite afford Ikoyi or VI. It has a mix of luxury and affordability (by Lagos standards). You’ll find many young professionals, good schools, nice estates, and fun places like malls and lounges. However, be ready for traffic, especially during rush hours.
Places like Phase 1 and Phase 2 are particularly popular for their neat environment and relatively stable electricity.
4. Chevron Drive and Ajah
These areas are for people who want the Island life but at a slightly more affordable rate. Ajah has seen major development, with beautiful estates and good roads. Just make sure your house is in a flood-free zone because rain in Lagos can humble even the best plans.
5. Eko Atlantic
This is the future of Lagos. A city built on reclaimed land from the Atlantic Ocean, offering ultra-modern apartments, luxury living, and state-of-the-art infrastructure. If you have the budget for it,
Eko Atlantic is the definition of futuristic living.
Best Places to Live on the Mainland
The Mainland is for those who love Lagos but don’t want to sell a kidney to afford rent. Here are the best places to live comfortably:
1. Ikeja
Ikeja is the capital of Lagos and one of the best places to live on the Mainland. Areas like GRA, Maryland, and Magodo offer good housing, reliable electricity, and less traffic compared to other parts of the Mainland. Plus, you have easy access to the airport, malls, and entertainment spots.
2. Magodo
Magodo feels like the Ikoyi of the Mainland. It is a secure, well-planned area with good roads, beautiful estates, and an organized environment. If you want a peaceful lifestyle with a touch of luxury but don’t want to cross the Third Mainland Bridge every day, Magodo is a great option.
3. Yaba
Yaba is the tech hub of Lagos. With Unilag and several startups in the area, it has a youthful, vibrant feel. Yaba is also home to affordable and decent housing, good transportation links, and a bubbling nightlife. If you’re a young professional or student, Yaba is a solid choice.
4. Surulere
Surulere is the best mix of old and new Lagos. It has good residential estates, a lively social scene, and is centrally located.
You can get to the Island easily while still enjoying affordable rent. Plus, it’s home to the National Stadium, where you can catch football matches and concerts.
5. Ogudu GRA
Ogudu GRA is a hidden gem. It has a serene environment, great road networks, and reliable security. It’s close to both the Mainland and the Island, making it convenient for professionals who need easy movement around Lagos.
6. Festac and Amuwo-Odofin
If you love space and want a family-friendly environment, these areas are great options. They have organized estates, good schools, and a peaceful vibe that is rare in Lagos. Plus, they are close to the Lagos-Badagry Expressway, making travel easier.
7. Gbagada
Gbagada is another top pick for Mainland living. It is well-planned, has a good mix of modern and old buildings, and offers easy access to both the Island and other parts of the Mainland.
▪︎For personalized assistance with property needs in Jakande and the broader Lagos area, interested parties can contact Dennis Isong, a top Lagos realtor specializing in helping Nigerians in the diaspora own property stress-free. He can be reached at +2348164741041.
Business
Naira Exchange Rates Friday, 3 July 2026
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,370.15
GREAT BRITISH POUND (GBP) ₦1,832.17
EURO (EUR) ₦1,568.28
SWISS FRANC (CHF) ₦1,1705.44
JAPANESE YEN (JPN) ₦8. 51
CHINESE YUAN (CNY) ₦201. 80
WEST AFRICAN CFA (XOF) ₦2.38
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98
SAUDI RIYAL (SAR) ₦364.91
SOUTH AFRICAN RAND (ZAR) ₦84. 32
Business
Issue: Cloning Nigerian Investment Promotion Commission (NIPC)
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
Business
Naira Exchange Rates Thursday July 2, 2026
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 395 Sell ₦1, 403
GREAT BRITISH POUND (GBP) Buy ₦1,845 Sell: ₦1,865
EURO (EUR) Buy ₦1, 585 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,372.41
GREAT BRITISH POUND (GBP) ₦1,821.73
EURO (EUR) ₦1,565.37
SWISS FRANC (CHF) ₦1,695.42
JAPANESE YEN (JPN) ₦8.45
CHINESE YUAN (CNY) ₦201.98
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNITACCOUNT (WAUA) ₦1,870. 31
SAUDI RIYAL (SAR) ₦365.45
SOUTH AFRICAN RAND (ZAR) ₦83.80
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