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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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Here’s When To Watch Lunar Crescent Across Nigeria on Friday, February 28, according to NASRDA

The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.

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The National Space Research and Development Agency (NASRDA) said that Nigeria would likely witness its first astronomical lunar crescent on Friday evenings, February 28.

The Director of Media and Corporate Communications of NASRDA, Dr. Felix Ale, disclosed this in a statement, saying that the lunar crescent had been calculated to occur at 1:45 A.M. West African Time (WAT).

He said that the predicted time of 1:45 A.M time, also known as the Crescent Zero hour, would be when the crescent could be seen under perfect atmospheric conditions with the aid of optical instruments like binoculars or telescopes.

“The crescent will become visible to the naked eye in the evening of Friday, February 28, 2025, between 6:17 PM and 7:35 PM across different locations in Nigeria.

“Maiduguri will be the first city to witness the young lunar crescent from 6:17 PM to 6:48 PM, followed by Yola, Adamawa State, from 6:21 PM to 6:51 PM.

“Damaturu, Yobe, will follow from 6:22 PM to 6:53 PM, Kano, Kastina, Jos and Kaduna will experience the first lunar crescent between 6:38 pm and 7:12 pm.

“The sunset and moon set will occur between 6:35 pm and 7:12 pm, 6:38 pm and 7:15 pm, 6:35 pm and 7:11 pm, 6:40 pm and 7:17 pm respectively.

“Enugu will experience the lunar crescent between 6:42 pm and 7:32 pm with sunset and moonset at about 6:42 pm and 7:18 pm,’’ he said.

He predicted that in the FCT, the first lunar crescent would appear between 6:44 pm and 7:15 pm, with sunset and moonset at about 6:44 pm and 7:20 pm.

The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.

Ale said that other cities across the federation will experience the lunar crescent at different times within the estimated visibility window of 6:17 pm and 7:35 pm on the same day.

He said “For a clear sighting of the first lunar crescent, observers are to use optical aids where necessary, and observe under clear atmospheric conditions.

“Observers are to position themselves in locations with an unobstructed view of the western horizon after sunset.

“He added that the scientific report provided precise predictions on the lunar crescent across locations of the country.

According to him, the report ensured accuracy for those who relied on lunar observations for religious, cultural, and scientific purposes.

The space agency encouraged researchers, scholars, and religious groups to utilise the findings, adding that anyone requiring additional data for further analyses could visit the official office website.

Director, the Centre for Basic Space Science and Astronomy (CBSSA), an activity centre of NASRDA, Dr Bonaventure Okere, said it was regarded as the first stage of the moon, hence the new crescent.

Okere said the appearance of the new crescent was highly significant in the Islamic religion because it was used to determine some rites and practices like the beginning of the Ramadan fast.

“The Islamic religion uses moon phases for their Islamic rites but astronomers study the cycle of the rising and setting of the moon to determine moon days, which is usually 28 days.

“Astronomers use the moon cycle to generate the Lunar calendar, understand the part of the moon you can see daily,’’ he said.

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Kogi State Mourns Loss of Media Icon Prof. Tom Adaba

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

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The Kogi State Government has expressed a huge sense of loss following the demise of Prof. Tom Adaba, a pioneering broadcast expert, patriot, and distinguished son of Kogi.

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

Prof. Adaba’s legacy is marked by groundbreaking achievements.

He was one of the first Nigerians to earn a Doctorate in Mass Communication, setting a high standard for academic excellence in the field.

His visionary leadership was evident during his tenure as the Principal of the Nigerian Television College, Jos, and as the inaugural Director General of the National Broadcasting Commission.

His work not only transformed the media industry but also laid a strong foundation for ethical journalism and responsible broadcasting across the nation.

In an official condolence message signed by the State Information Commissioner, Mr Kingsley Fanwo, the Kogi State Government described Prof. Adaba as “a media colossus, patriot, and a distinguished Nigerian” whose wisdom and dedication left an indelible mark on the country.

The government extended heartfelt condolences to his family, friends, and the entire media community, urging that his legacy be remembered as a beacon of inspiration.

The statement reads: “We have lost a great media pioneer whose life-long contributions to Nigeria’s broadcasting industry will forever be cherished. May the Almighty God grant him eternal rest and give his loved ones the strength to bear this irreparable loss.”

Prof. Adaba’s passing is not only a significant loss to Kogi State but also to Nigeria as a whole.

His illustrious career and unwavering patriotism will continue to inspire future generations in the realms of media and beyond.

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BREAKING: Police Have Sealed Our Hqrs – Osun Electoral Commission Boss Raises Alarm

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The Chairman of the Osun State Independent Electoral Commission (OSSIEC), Hashim Abioye, has raised alarm over the sealing of the commission’s headquarters by the police.

The incident on Saturday occurred as the commission proceeded with the controversial local government elections taking place across the state.

Speaking during a live current affairs program on Rave FM, Abioye said he is surprised that such a step could be taken.

He said, “I leave the police IGP in the hands of God.

“Election has started earnestly in all the polling units across the state but no police presence is noticeable from the information available to me.”

Meanwhile, Governor Ademola Adeleke participated in the exercise, casting his vote at a polling station in Ede.

After voting, the governor called on residents to remain calm and peaceful throughout the exercise.

The sealing of the OSSIEC headquarters comes after the Nigeria Police had earlier advised the Osun State Government not to proceed with the election.

Citing security risks and potential legal implications, the police had warned that holding the poll under the current circumstances could lead to unrest.

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