Connect with us

News

Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024, by Dennis Isong.

Published

on

Last week, my friend Chidi called me in a panic. “Bros, I just inherited ₦50 million from my extremely wealthy uncle, and my wife wants us to buy land in Banana Island!” he exclaimed.

I couldn’t help but laugh. “Chidi,” I replied, “with ₦50 million, you can’t even buy a decent-sized parking space in Banana Island.”

That’s the reality of Lagos real estate – a market where dreams meet practicality, and smart investors look beyond the obvious.

 As Lagos continues its relentless expansion, new investment opportunities are emerging in previously overlooked areas.

Let’s explore the top 10 real estate investment hotspots that promise significant returns in 2024.

 1. Sangotedo

Once considered the backwoods of Lekki, Sangotedo has transformed into a real estate goldmine.

With the completion of several major road networks and the presence of notable institutions like the Lagos Business School, property values here have appreciated by over 40% in the last two years.

The area offers a perfect blend of residential and commercial opportunities, with land prices still reasonable enough for medium-scale investors.

2. Ikorodu

North Don’t roll your eyes just yet! Ikorodu North, particularly around Ijede Road, is experiencing unprecedented development.

The ongoing road expansion project and the proposed Fourth Mainland Bridge access point have triggered a surge in property values.

Early investors are already reaping rewards, with some reporting up to 60% appreciation in just 18 months.

3. Epe

The quiet transformation of Epe into a major industrial hub is perhaps Lagos’s best-kept real estate secret.

With the Lekki Deep Sea Port now operational and the Dangote Refinery nearby, Epe’s real estate market is on steroids.

Focus on areas around the Lekki-Epe Expressway and the new Epe Resort Road.

4. Badagry

History is repeating itself in Badagry, but this time with property values.

The completion of the Lagos-Badagry Expressway project has opened up unprecedented opportunities. International investors are quietly acquiring large land parcels here, particularly around the Free Trade Zone area.

The planned seaport project makes this a long-term investment goldmine.

5. Abijo GRA

Situated between Ajah and Ibeju-Lekki, Abijo GRA represents the new face of luxury suburban living in Lagos.

The area benefits from excellent infrastructure and proximity to major developments along the Lekki corridor. Property values here have shown consistent appreciation, with a remarkable 35% increase in the past year alone.

6. Isheri North

This area’s transformation from a flood-prone zone to a prime real estate location is nothing short of miraculous. Improved drainage systems and the completion of several estate projects have boosted investor confidence.

The proximity to both Lagos and Ogun states makes it a unique investment opportunity.

7. Bogije

Located along the Lekki-Epe Expressway, Bogije is experiencing a real estate renaissance.

The area benefits from its strategic location between developed Ajah and the industrial hub of Ibeju-Lekki.

Land prices here are still relatively affordable, making it attractive for both individual and institutional investors.

8. Agbowa

Don’t let the distance fool you. Agbowa is emerging as Lagos’s new industrial frontier.

The state government’s focus on developing this area as an industrial hub has sparked interest from real estate investors.

Early birds here stand to gain significantly as industrial development drives residential and commercial property demand.

9. Alimosho

As Lagos’s largest local government area, Alimosho continues to offer diverse real estate opportunities. The focus areas are around Ikotun-Igando and Ayobo-Ipaja axes, where improved road networks and the proposed rail line are driving property appreciation.

The high population density ensures steady rental income for residential properties.

10. Ibeju-Lekki

Despite being an obvious choice, Ibeju-Lekki deserves its spot on this list.

The area around the Lekki Free Trade Zone continues to appreciate, driven by industrial developments and improved infrastructure. However, smart investors are now looking at secondary locations within Ibeju-Lekki, particularly areas around Eleko Junction and Akodo.Investment

As Lagos continues its march toward becoming Africa’s premier megacity, these locations offer varying degrees of opportunity for different categories of investors.

Tips:

●   Due diligence is crucial. Always verify land titles and obtain necessary documentation.

●      Consider infrastructure development plans when making investment decisions.

●      Long-term holds typically yield better returns in Lagos real estate.

●      Partner with reputable real estate professionals for guidance.

●      Keep an eye on government policies and development plans.

 Remember Chidi? He eventually invested in two plots in Sangotedo instead of chasing the Banana Island dream.

Six months later, a major tech company announced plans to build their campus nearby, and his property value jumped by 25%. Sometimes, the best investment opportunities aren’t in the most obvious places. 

As Lagos continues its march toward becoming Africa’s premier megacity, these locations offer varying degrees of opportunity for different categories of investors.

Whether you’re looking for quick appreciation or steady long-term growth, understanding these hotspots’ unique characteristics and growth drivers is crucial for making informed investment decisions. 

The key to success in Lagos real estate remains the same: buy where development is going, not where it has been. As we navigate through 2024, these areas represent the sweet spot where opportunity meets affordability, promising significant returns for discerning investors.

▪︎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

News

Yahaya Bello Vs EFCC: Court Adjourns Ruling and Continuation of Trials to June 26 , 27 and July 4 and 5

Published

on

By

You cannot cross examine him based on the document,” Daudu SAN argued. Enitan SAN added that he had the right to draw the attention of the court to some specific paragraphs in the document.

The Federal High Court in Abuja has adjourned the hearing of the alleged money laundering case instituted against the immediate past Governor of Kogi State, Yahaya Bello, by the Economic and Financial Crimes Commission to June 26, 27 and July 4 and 5 for ruling on the request by the prosecution to “cross-examine” the 3rd witness and for continuation of trial.

Justice Emeka Nwite adjourned the hearing after listening to addresses by the prosecution and defence counsels on the Prosecution’s move to initially cross-examine the witness, a position that was rejected by the Defendant’s Counsel, Joseph Daudu, SAN.

When the matter was called for continuation of cross-examination, the Defendant’s counsel asked the witness, Nicholas Ojehomon, whether he had testified in other courts with respect to the issue of school fees paid by the Bello family to AISA, he said yes.

But the witness, an internal auditor at the American International School, Abuja, said he could not mention the exact courts.

He admitted testifying in a similar charge involving Ali Bello but added that he never said anything adversely against former Governor Yahaya Bello just as he had not said anything negative or adversely against him in the instant charge.

After Daudu SAN concluded the cross-examination of the witness, Nicholas Ojehomon, the EFCC’s lawyer, Olukayode Enitan, SAN, moved to also cross-examine the Commission’s witness on Exhibit 19.

He told the court that he was not re-examining the EFCC’s witness, but cross-examining him because the document was admitted in evidence.

“I am not re-examining him, I am cross-examining him because they brought this document,” he said.

The Defendant’s lawyer, however, drew the court’s attention to the fact that the prosecution counsel’s position was unknown to law, in line with the Evidence Act.

“If you want to cross-examine your own witness, you have to first declare him a hostile witness. You cannot cross examine him based on the document,” Daudu SAN argued. Enitan SAN added that he had the right to draw the attention of the court to some specific paragraphs in the document.

At this point, the judge asked: “Do you have any provision of the law to support this?””I will draw your lordship attention to Section 36 of the Constitution.

They sought to tender this document, we objected and the court granted their prayer. Fair hearing demands that the complainant too has the right to examine this because Section 36 of the Constitution talks of fair hearing,”

Enitan responded. “We are not saying that they cannot re-examine the witness. That is what Section 36 under the law says about fair hearing. But if it is to cross-examine him, he will have to show us the law that backs that.

“He cannot come under the guise of fair hearing to want to cross-examine the witness,” the Defendant’s lawyer maintained. The judge, at the end of the arguments, refused to allow cross-examination of the witness by the EFCC lawyer.”

Under the procedure, the witness gives evidence in chief and the defendant cross examines, then the prosecution re-examines.

“With due respect, what I will do is if you people are so skewed to continue with this, it is better to address me on this and I will take a position,” he stated.

At this point, the prosecution counsel agreed to re-examine the EFCC’s witness and the judge gave him the go-ahead.”You can re-examine him on that but not to ask questions that will show cross examination,” Justice Nwite said.

However, when the prosecution lawyer proceeded to re-examine the witness, and his questions pointed at cross-examination, as observed by Daudu SAN, the judge insisted that the parties had to address him on the specific issue.

The Defendant’s Counsel, in his address, maintained that the position was unknown to law.

“My lord, the procedure that is being sought by the prosecution by refering the witness to the document tender in Exhibit 19 and by asking him to read paragraph 1, without drawing his attention to the issue on how the document affected his evidence in chief, the question asked in cross-examination, and the ambiguity, which needs clarification, amounts to a strange and unknown procedure not covered by the Evidence Act,” he stated.

Enitan SAN, disagreed, saying that in the case of Amobi Amobi referred to by the defendant’s counsel, the Supreme Court held that the learned trial judge ought to have allowed a re-examination of Exhibit E.

He said when the defendant sought to introduce the document, the prosecution team “submitted that this document was not made by the witness and as such, he should not be allowed to speak to it under cross examination or allowed to be confronted with it.”

“Having brought it in now, during the case of the prosecution, particularly during the cross examination of PW-3, your lordship should not allow them to shut us out as that would amount to the court allowing them to blow hot and cold,” Pinheiro SAN said.

Justice Nwite thereafter adjourned to June 26, 27 and July 4 and 5 for ruling and continuation of trial.

The 3rd prosecution witness had, at the last hearing on Thursday, said there was no wired transfer of fees from the Kogi State Government or any of the local Governments in the state to the account of the American International School, Abuja.

He also read out a part of a previous Federal Capital Territory High Court judgment that said there was no court order for AISA to return fees to EFCC or any judgment declaring the money as proceeds of money laundering.

Continue Reading

News

Bill Gates to give away 99% of his wealth

“I have decided to give my money back to society much faster than I had originally planned,” Gates, 69, wrote in a statement.

Published

on

By

The Gates Foundation plans to give away $313 billion over the next 20 years before shutting down entirely in 2045.

The move, according to Bloomberg, marks a new deadline for one of history’s largest and most influential charities.

That target would represent a doubling in spending for the non-profit foundation which has disbursed more than $100 billion since it was co-founded by Microsoft Founder Bill Gates and Melinda Gates in 2000.

Originally, the foundation was set to close 20 years after Gate’s death.

“I have decided to give my money back to society much faster than I had originally planned,” Gates, 69, wrote in a statement.

“I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world,” he added.

Credit: Bloomberg

Continue Reading

News

Peter Obi’s Comparison of Nigeria’s Educational System With Bangladesh, Turkiye

Bangladesh, which once lagged behind Nigeria in virtually every measurable development index, now surpasses us in all key areas of development and in the Human Development Index (HDI).

Published

on

By

Peter Obi wrote on his X( Twitter) : “I just came across the official results from JAMB showing the recent exam figures.

In the data shared by JAMB, a total of 1,955,069 candidates sat for the exam.

Shockingly, out of this number, only about 420,000 candidates scored above 200, while over 1.5 million scored below 200.

This means that over 78% of the total candidates failed to meet the 200-mark threshold — a reflection of the deep-rooted challenges in our educational system.

The latest JAMB results once again highlight the consequences of decades of underinvestment in education, a sector that should be central to our national development strategy.

Currently, Nigeria’s total university enrollment stands at approximately 2 million students.

By comparison, the National University of Bangladesh — a single university — has over 3.4 million students enrolled, despite the country having only about 75% of Nigeria’s population.

One university in Bangladesh surpasses the entire university enrollment in Nigeria.

Bangladesh, which once lagged behind Nigeria in virtually every measurable development index, now surpasses us in all key areas of development and in the Human Development Index (HDI).

Similarly, Turkey (now Turkiye), with a population of about 87.7 million people, has over 7 million university students — more than three times Nigeria’s total university enrollment.

I have consistently said it: education is not just a social service; it is a strategic investment.

It is the most critical driver of national development and the most powerful tool for lifting people out of poverty.

We must now invest aggressively in education — at all levels — if we are serious about building a prosperous, secure, and equitable Nigeria.”

Continue Reading

Trending