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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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Police Obeys Court Order to Suspend Tinted Glass Permits Enforcement

The court issued the interim order during a hearing in Suit No. FHC/WR/CS/103/2025 instituted by John Aikpokpo-Martins against the IGP and the police.

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The Nigeria Police Force has announced the suspension of vehicle tinted glass permit because of a court order halting the enforcement for now.

Spokesperson for the Federal Capital Territory (FCT) Police Command, SP Josephine Adeh confirmed the suspension on Wednesday, October 8.

Recall Federal High Court in Warri, Delta State, last week ordered the Nigeria Police Force and the Inspector-General of police (IGP) to suspend the enforcement of the tinted glass permit across the country.

The court ordered the police and the IGP to maintain the status quo and “respect judicial processes pending further proceedings in the matter.”

The court issued the interim order during a hearing in Suit No. FHC/WR/CS/103/2025 instituted by John Aikpokpo-Martins against the IGP and the police.

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My resignation not admission of guilt – Nnaji

My decision to step aside is therefore a personal choice, not an admission of guilt. It is a principled decision to respect the sanctity of due process and to preserve the integrity of the judicial proceedings currently before the court

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The Minister of Innovation, Science, and Technology, Geoffrey Nnaji, says his resignation from President Bola Tinubu’s cabinet is not an admission of guilt but a personal choice.

Nnaji, who was appointed in August 2023, announced his resignation in a letter to the President on Tuesday, expressing appreciation for the opportunity to serve.

This is contained in a statement he signed in Abuja.

Nnaji was appointed as minister by the administration of President Bola Tinubu in August 2023, but resigned amidst controversies surrounding allegations of certificate forgery.

He noted that over the past week, an orchestrated, sustained campaign of falsehood, politically motivated, and malicious attacks was waged against him across print, electronic and social media platforms.

Nnaji emphasized that these unfounded allegations and media distortions not only caused personal distress but also distracted him from work.

He had put in five decades building a reputation anchored on hard work, honour and service to humanity.

Nnaji said that he could not, in good conscience, allow these distortions to cast a shadow over the noble objectives of the present administration.

“My decision to step aside is therefore a personal choice, not an admission of guilt. It is a principled decision to respect the sanctity of due process and to preserve the integrity of the judicial proceedings currently before the court, ” he said.

Nnaji expressed optimism that in the end, justice will vindicate the just.

(VANGUARD)

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Nnamdi Kanu’s Health: NMA Panel To Give Report on 16 October

Acting on the direct order of the Federal High Court, the NMA committee—made up of cardiologists, neurologists, and senior specialists—was tasked with one question: Is Nnamdi Kanu fit to stand trial? ‎‎

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A special medical panel of the Nigerian Medical Association (NMA) now has 16 October to give its report on the health status of Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra, who is on terrorism trial at the Federal High Court Abuja.

‎‎Justice James Omotosho gave the date after the prosecutor, Suraj Sa’aida SAN, informed the Court that the panel of the Nigerian Medical Association (NMA) was not ready. ‎‎

The prosecutor requested for a week to enable it to complete its assignment which was due this Wednesday.

This application was not opposed by the defence lawyers led by Kanu Agabi SAN.

In a short ruling, Justice Omotosho reminded all parties in the case of the court’s stance on accelerated hearing of the matter. ‎‎

The judge however noted that he is inclined to adjourn the matter till 16 October, which will be enough time for the medical panel to complete its job. ‎‎

Acting on the direct order of the Federal High Court, the NMA committee—made up of cardiologists, neurologists, and senior specialists—was tasked with one question: Is Nnamdi Kanu fit to stand trial? ‎‎

The intervention by the court follows weeks of conflicting claims from doctors of the DSS and Kanu’s private physician on his true state of health, amidst claims of deteriorating condition and alleged manipulation of medical records.‎‎

The NMA Committee’s mandate is to examine Kanu directly, both inside DSS custody and, if necessary, in external hospitals.

It must also assess whether DSS facilities are capable of handling his ailments—or if he should be transferred to the National Hospital in Abuja, or another specialized center.‎

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