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Investing in Lagos Waterfront Properties: Opportunities and Risks, by Dennis Isong
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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President Tinubu Signs updated List of Eligible Beneficiaries of State Pardons
Consequently, certain persons convicted of serious crimes such as kidnapping, drug-related offences, human trafficking, fraud, unlawful possession of firearms/arms dealing, etc, were deleted from the list.
President Bola Ahmed Tinubu, has executed the relevant instruments of release to complete the process of formally exercising his constitutional power of prerogative of mercy to grant pardon and clemency to specific individuals who were earlier convicted for various offences.
Bayo Onanuga, Special Adviser to the President (information & Strategy), disclosed this in a statement on Wednesday.
He said that following consultations with the Council of State and public opinion on the matter, the President directed a further review of the initially approved list for consideration in furtherance of the President’s discretionary powers under Section 175(1)(&(2) of the 1999 Constitution (as amended).
Consequently, certain persons convicted of serious crimes such as kidnapping, drug-related offences, human trafficking, fraud, unlawful possession of firearms/arms dealing, etc, were deleted from the list.
Others who had been hitherto pardoned in the old list had their sentences commuted.
This action became necessary in view of the seriousness and security implications of some of the offences, the need to be sensitive to the feelings of the victims of the crimes and society in general, the need to boost the morale of law enforcement agencies and adherence to bilateral obligations.
The concept of justice as a three-way traffic for the Accused, the Victim, and the State/Society also guided the review.
The approved list of eligible beneficiaries has been transmitted to the Nigerian Correctional Service for implementation in line with the duly signed instruments of release.
Furthermore, to ensure that future exercises meet public expectations and best practices, the President has directed the immediate relocation of the Secretariat of the Presidential Advisory Committee on Prerogative of Mercy from the Federal Ministry of Special Duties to the Federal Ministry of Justice.
President Tinubu also directed the Attorney-General of the Federation to issue appropriate Guidelines for the Exercise of the Power of Prerogative of Mercy, which includes compulsory consultation with relevant prosecuting agencies.
This will ensure that only persons who fully meet the stipulated legal and procedural requirements will henceforth benefit from the issuance of instruments of release.
The President appreciated the constructive feedback and engagement from stakeholders and the general public on this matter.
President Tinubu also reaffirmed his administration’s broader commitment to judicial reforms and improving the administration of justice in Nigeria.
News
170 Foreigners Seeking Nigerian Citizenship – Tunji Ojo
According to the Minister, the 170 applications will undergo rigorous scrutiny by a high-level panel comprising representatives from the Department of State Services, the Nigeria Immigration Service, the Ministry of Justice, and the Ministry of Foreign Affairs.
One hundred and seventy (170) foreign nationals are seeking Nigerian citizenship.
Olubunmi Tunji-Ojo, Interior Minister, disclosed this in Abuja after chairing a meeting of the Citizenship Advisory Committee, which vets all citizenship requests before forwarding recommendations to President Bola Tinubu for approval.
Tunji-Ojo noted that citizenship of the world’s largest Black nation is not for everyone.
“Anyone who holds the citizenship of our great country must be a person of strong character and impeccable integrity, reflecting the true values of Nigeria,” he declared.
According to the Minister, the 170 applications will undergo rigorous scrutiny by a high-level panel comprising representatives from the Department of State Services, the Nigeria Immigration Service, the Ministry of Justice, and the Ministry of Foreign Affairs.
News
NPF to celebrate 70 years of women in policing
In a statement by the Force Public Relations Officer, CSP Benjamin Hundeyin, on Wednesday, the celebration is scheduled to hold from December 3 to 4, 2025, and will bring together serving and retired female officers alongside the Inspector-General of Police, Kayode Egbetokun.
The Nigeria Police Force has announced plans to celebrate 70 years of women in policing, honouring seven decades of courage, resilience, and service since the first set of female officers were enlisted in 1955.
In a statement by the Force Public Relations Officer, CSP Benjamin Hundeyin, on Wednesday, the celebration is scheduled to hold from December 3 to 4, 2025, and will bring together serving and retired female officers alongside the Inspector-General of Police, Kayode Egbetokun.
The statement noted that the milestone “underscores the vital role of women in strengthening law enforcement and fostering community trust across the nation.
It added that the IGP commended the invaluable contributions of female officers to the operational effectiveness and public image of the Force, saying their “dedication and compassion have continued to be integral to the foundation of policing in Nigeria.”
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