Business

The Role of Infrastructure in Lagos Real Estate Value by Dennis Isong

Let’s break down why infrastructure is the ultimate game-changer in Lagos real estate.

Published

10 months ago

March 1, 2025

OCHEFA

238 Views

If you want to understand the Lagos real estate market, forget all the fancy jargon for a minute.

Just think of infrastructure as the soul of property value. A house without good roads, electricity, water, or even security is like a designer shoe with no sole—fine but useless.

In Lagos, infrastructure plays a big role in shaping real estate prices.

The same plot of land in two different locations can have an N50 million difference just because one has better roads, drainage, or proximity to a major highway.

Let’s break down why infrastructure is the ultimate game-changer in Lagos real estate.

1. Good Roads = Good Money

Let’s say you have two plots of land—one along a well-paved road and the other inside a swampy, pothole-infested area. Which one would you buy? The answer is obvious.

Lagos traffic is already enough stress; nobody wants to add bad roads to their suffering. That’s why areas with smooth, wide roads see property prices skyrocketing. Look at Lekki Phase 1, for instance.

When the Lekki-Epe Expressway was a narrow, chaotic mess, properties were still relatively affordable. But once the road was expanded and better maintained, land prices shot up like fuel prices after a subsidy removal.

Now, compare that to some areas on the mainland with roads that look like they survived a bomb blast. Properties there remain cheap, not because they aren’t valuable, but because buyers calculate the stress of bad roads into their final decision.

2. Drainage and Flood Control

Nobody Likes Swimming in Their Living Room Every Lagosian knows the pain of flooding.

When rain falls, some streets turn into rivers, and landlords start offering “canoe-inclusive” rent deals. But in places with proper drainage, real estate value remains stable, rain or shine. Victoria Island, for example, had serious flooding issues in the past.

But as drainage systems improved, property values remained strong.

Meanwhile, areas with poor drainage, like some parts of Ajah and Ikorodu, see land values drop during rainy seasons because buyers fear their future homes could become water parks.

Investors and homebuyers are now paying more attention to drainage systems before putting their money into properties.

A house is not cheap, so nobody wants to spend millions only to start living like Aquaman.

3. Power Supply—Because Generators Are Not Luxury

Electricity is one of Lagos’ biggest real estate influencers. Areas with steady power supply command higher rent and property prices. Why? Because the alternative—buying fuel for a generator—is both expensive and frustrating.

Places like Ikeja GRA, Victoria Island, and parts of Lekki have relatively stable power, and landlords use that as a selling point.

On the other hand, areas with epileptic power supply lose value over time. People are now considering solar-powered estates and communities where electricity is stable before making buying decisions.

4. Transportation—BRT, Rail, and Your Property’s Worth

One of the smartest real estate moves in Lagos is to buy property near upcoming transport projects. Why? Because the moment a major road, rail, or even a bridge is announced, land prices start rising like agege bread in hot weather.

When the Lekki-Epe Expressway toll gate was introduced, property prices in Ajah and beyond started climbing.

The same thing is happening with the Lagos Blue and Red Rail Lines. Areas close to the rail stations, like Alagbado and Agbado, are experiencing a surge in demand because people are preparing for easier movement.

Nobody likes spending four hours in Lagos traffic. If your property is near a transport hub that reduces stress, its value automatically goes up.

5. Security—Safe Neighborhoods, High Returns

No matter how fine a house is, if the area is a crime hotspot, buyers and tenants will run. Security infrastructure—streetlights, CCTV, police presence, gated communities—adds serious value to properties.

Banana Island, Ikoyi, and some parts of Lekki Phase 1 are expensive partly because of their tight security.

Compare that to some areas where robberies are common, and you’ll see why people are willing to pay a premium for peace of mind.

6. Social Amenities—Schools, Hospitals, Malls, and Fun Spots

A house in an isolated bush with no schools, hospitals, or supermarkets nearby is just a fancy prison. That’s why areas with top schools, healthcare centers, and entertainment hubs always see higher real estate demand.

Look at places like Ikeja, Lekki, and Surulere.

The presence of good schools, hospitals, and malls means families are willing to pay more to live there. Investors know this, so they buy early before development fully sets in.

The Government’s Role—When Infrastructure Meets Policy Infrastructure development is not magic; it takes government planning, funding, and execution.

The Lagos State Government has been actively pushing major projects to boost real estate value across different areas.

For example:

• The Lekki Free Trade Zone:

This project is turning Ibeju-Lekki into a goldmine. With the Dangote Refinery, Deep Seaport, and Free Trade Zone in full swing, land prices in this area have jumped significantly in the past few years.

• The Fourth Mainland Bridge:

Once this long-awaited bridge becomes a reality, expect a massive real estate boom in areas like Ikorodu, Ajah, and Epe. People are already securing land there in anticipation.

• The Lagos Rail Mass Transit (Blue and Red Lines):

These train lines will reduce commuting stress, meaning properties near stations will become more attractive and valuable.

When the government invests in infrastructure, real estate investors should pay attention. It means they are indirectly boosting property values in those locations.

How to Invest Wisely—Spot the Next Big Infrastructure

Move If you’re planning to buy property in Lagos, don’t just focus on “popular” locations. Instead, look at upcoming infrastructure projects. These areas are where you’ll get the best long-term returns. Here’s how to spot a good investment:

• Follow Government Announcements: Any major road, bridge, or transport project will affect real estate prices in that area. Stay informed.

• Check for Early Development Signs: When big businesses start moving into an area, it’s a sign that value will rise soon.

• Look Beyond the Present Condition: Some places may look like “bush” now, but with infrastructure, they will turn into prime locations.

Epe is a perfect example—five years ago, it was just a quiet town. Today, it’s one of the fastest-growing real estate hubs in Lagos.

• Buy Before the Boom: Once the infrastructure is completed, land prices jump dramatically. The best time to buy is when development is just starting, not when it’s fully established.

Infrastructure is the Key to Lagos Real Estate Wealth

In Lagos, infrastructure determines whether a property is worth millions or remains stagnant. Roads, electricity, drainage, security, transportation, and social amenities all play a crucial role in increasing property value.

Smart investors don’t wait for areas to become “hot” before they buy; they anticipate where the next big infrastructure project will be and invest early. Whether you’re a first-time buyer or a seasoned investor, one thing is clear: if you follow infrastructure, you’ll always find money in Lagos real estate.

Dennis Isong and team.

+2348164741041 +234802866756

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E- Commerce: bitMARTe Launches in Nigeria with Same-Day Delivery, Buyer Protection and Merchant Financing

With its official launch, bitMARTe is now live and open to users across Nigeria, positioning itself as a technology-enabled commerce platform focused on speed, trust, local content and economic empowerment.

Published

12 hours ago

December 24, 2025

OCHEFA

22 Views

Photo: Left to Right: Amaka Onaibre – Legal Counsel, Dr Eke Eke – Chief Executive Officer, Tolulope Ogungbade – Business Manager & Chief Operating Officer.

bitMARTe, a new Nigerian-focused e-commerce platform, has officially launched operations, unveiling a suite of innovative features designed to address long-standing challenges facing online shopping and digital commerce across Nigeria and Africa.

Speaking at the launch, Chief Executive Officer of SpringRock Group and founder of bitMARTe, Dr. Eke Eke, said that the platform was built with a deep understanding of the peculiar realities of the African market, particularly issues around delivery delays, payment security, product quality and access to business capital.

Beyond online marketplace

Dr. Eke emphasised that bitMARTe is not merely an online marketplace but a technology-driven operating system tailored to manage the infrastructural and logistical challenges unique to the region, while delivering services comparable to global e-commerce standards.

One of the platform’s standout innovations is its same-city, same-day delivery service, aimed at restoring consumer confidence in online shopping.

A gap bitMARTe intends to close.

Dr. Eke noted that delivery delays have historically discouraged Nigerians from relying on e-commerce for urgent purchases, a gap bitMARTe intends to close.

The platform also places strong emphasis on promoting Made-in-Nigeria products, offering buyers access to a wide range of locally produced goods without the restrictions commonly seen on other platforms.

This, according to the founders, will enhance affordability while supporting local manufacturers and merchants

To attract early adopters, bitMARTe has rolled out multiple promotional incentives. The first 5,000 users to register on the platform will receive a ₦1,000 gift card, while users who successfully refer others who make purchases will earn ₦1,000 per referral, with no cap on earnings.

First-time buyers will also enjoy additional rewards, creating multiple earning opportunities for active users.

Payment Safety

Addressing concerns around payment safety, Dr. Eke explained that bitMARTe operates a secure escrow-style payment system, ensuring that funds are only released to merchants after buyers confirm receipt and satisfaction using a unique verification code.

This mechanism, he said, provides strong protection against fraud and misrepresentation.

In addition, bitMARTe has established a robust quality assurance framework to ensure product accuracy and integrity. Items that fail to meet stated standards will be removed from the platform, while goods damaged in transit will be replaced at no cost to the buyer.

The company also pledged to investigate and address the root causes of such incidents to maintain high service standards.

bitMARTe’s customer service architecture

Dr. Eke emphasized that bitMARTe’s customer service architecture is deliberately buyer-centric, with centralized handling of interactions to ensure consistency, professionalism and fairness across the platform.

Beyond buyers, bitMARTe is also positioning itself as a growth partner for merchants.

In response to a question on its merchant financing model, Dr Eke disclosed that the platform plans to offer loans to active merchants after six months of operation, based on transaction history, cash flow and conduct on the platform.

He noted that access to affordable credit remains a major obstacle for Nigerian businesses, adding that bitMARTe’s financing model is designed to provide practical and sustainable loan terms, in contrast to the high interest rates typically charged by commercial banks.

Present at the launch

Also present at the launch were Mrs Tolu Ogungbade, Business Manager and Chief Operating Officer of bitMARTe, and Mrs Amaka Onaibre, Legal Adviser, who both reaffirmed the company’s commitment to transparency, compliance and long-term value creation for users and partners.

Business

Heirs Energies Secures $750 Million Financing from Afreximbank for Expansion

Published

3 days ago

December 21, 2025

Charles Flames

84 Views

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank).

The deal was finalized during a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

This transaction marks one of the largest financings ever obtained by an indigenous African energy firm, underscoring strong confidence in Heirs Energies’ operational track record, governance, brownfield expertise, and future growth potential.

Since taking over operatorship of Oil Mining Lease (OML) 17, Heirs Energies has implemented a rigorous turnaround strategy, emphasizing production recovery, asset integrity, and efficiency gains.

Through targeted interventions and infrastructure upgrades, the company has shifted from acquisition-focused funding to a sustainable capital structure suited to long-term reserve development.

Production has doubled since acquisition, rising from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to more than 50,000 bopd and 120 mmscf/d currently. All gas output is supplied to Nigeria’s domestic market, playing a key role in supporting national power generation.

The company has also overhauled community engagement and upheld top-tier health and safety standards.

The new Afreximbank facility will fund accelerated field development, production optimization, and strategic growth initiatives, all while adhering to strict capital discipline.Tony O. Elumelu, CFR, Chairman of Heirs Energies, commented: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital.

It reflects the successful journey Heirs Energies has taken—from turnaround to growth—and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.

”Dr. George Elombi, President and Chairman of Afreximbank, added: “Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth.

This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions driving sustainable economic transformation across the continent.

”The deal highlights Afreximbank’s commitment to empowering indigenous operators capable of advancing energy security, sustainable development, and economic value throughout Africa.

With this funding in place, Heirs Energies is well-positioned for its next growth phase, prioritizing operational excellence, responsible resource management, and lasting stakeholder value.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, dedicated to addressing the continent’s energy demands while advancing global sustainability objectives. It emphasizes innovation, environmental stewardship, and community development in the evolving energy sector.

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral institution focused on financing and promoting intra- and extra-African trade, supporting industrialization, trade growth, and economic transformation.

Business

Dangote: A Dogged and Fierce Fighter for Local Industries Survival

Nigeria aims to reduce reliance on imported refined fuels by 2024/2025, transitioning to self- sufficiency through the Dangote Refinery and rehabilitated refineries in Port Harcourt, Warri, and Kaduna, with plans to become a net exporter.

Published

6 days ago

December 18, 2025

OCHEFA

112 Views

By OCHEFA

Africa’s billionaire Aliko Dangote, an astute industrialist, is always attentive to the environment around him, embodying the idiom” ears to the ground.

His investments in Nigeria and the other African countries span cement, sugar, petrochemicals, fertilisers and his latest venture, a $20 billion petroleum refinery in the Lekki free trade zone in Lagos.Six months ago, Dangote stepped down as the Chairman of the Dangote Group’s Board on July 25, 2025.

Anthony Chiejina, the Group’s Chief of Branding and Communications, explained that this move allows Dangote to focus more on the refinery, petrochemicals, Fertiliser, and government relations, to elevate the company’s five- year plan to new heights.

Subsequently, Emmanuel Ikazoboh, an independent non- executive director, was appointed Chairman of Dangote Cement Plc.

With his keen awareness of global and local oil and gas developments, Dangote closely monitors issues affecting his refinery’s operations.

He relies on a team of experts to keep him informed, and he responds fiercely against policies threatening his interests.

A current example is his public dispute with Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

With his keen awareness of global and local oil and gas developments, Dangote closely monitors issues affecting his refinery’s operations.

Recently, Dangote accused NMDPRA of economic sabotage, criticising its continued issuance of import licences for petroleum products- licenses totalling approximately 7. 5 billion litres of PMS for early 2026- despite Nigeria’s growing refining capacity.

He claimed this undermines local refining, sustains Nigeria’s dependence on fuel imports, and discourages local investments.

Dangote also alleged collusion between NMDPRA and international traders, which the regulator has denied.

Policies like a proposed 15% duty aim to make imports more expensive and accelerate this transition.

Dangote insists that he seeks accountability, not removal, calling for an investigation into NMDPRA’ s actions.

Following Dangote’s accusations,Ahmed resigned, acknowledging awareness of allegations against him and his family, which have attracted public attention.

He stated he avoided public disputes due to the sensitive nature of his regulatory role but welcomed a formal investigation to clear his name.

President Tinubu then asked the Senate to approve new CEOS for NMDPRA and NUPRC- Engineer Saidu Aliyu Mohammed and Oritsemeyiwa Amanorisewo Eyesan, respectively.