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Why People Like to Live in Ojo, Lagos by Dennis Isong 

People are renting rooms, apartments, self-cons, and even shared spaces. If you’re an investor reading this, take note. The rental demand in Ojo, especially near LASU and major roads, is not child’s play.

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Ojo. That name rings a certain kind of Lagos bell — the kind that echoes both old-time charm and present-day promise.

Located on the western flank of Lagos State, Ojo has quietly but consistently won the hearts of many Lagosians looking for a place to call home.

In fact, when people say they’re relocating to the Lagos mainland but don’t want to “suffer,” Ojo is often their silent dream.

But what exactly makes this place tick? Why is it that people from different walks of life — from the everyday hustler to the savvy investor — are drawn to Ojo, like suya, to charcoal? It’s not just about the affordability, even though that’s a major sugar in the garri. It’s something deeper. Something a little emotional.

Ojo may not always be the loudest name on the Lagos real estate radar, but those who know… know. And trust me, many know.

Let’s start with the vibe. Ojo has a rhythm of life that somehow balances the Lagos bustle with a bit of hometown calm.

You see people moving, markets booming, buses shouting destinations in that dramatic conductor voice — yet you don’t feel overwhelmed. There’s room to breathe. Room to plan. Room to build.

That alone is gold in a city like Lagos where everything feels like a race. And speaking of building, the Ojo Lagos real estate scene has been buzzing, slowly but steadily.

The land here still gives you that hope — the hope that you can buy now, build small, and grow big without selling your grandfather’s inheritance. While some parts of Lagos make you feel like you need to be Dangote’s nephew to afford anything decent, Ojo gently whispers, “Relax, you can afford me.”

Ojo may not always be the loudest name on the Lagos real estate radar, but those who know… know. And trust me, many know.

Now, let’s not pretend that Ojo is some fantasy land where all your problems vanish. No, Lagos will be still Lagos. But Ojo gives you a softer landing.

It’s the kind of place where your Naira stretches just a little further. You buy a piece of land and still have money for block, cement, and maybe even a small naming ceremony afterward. That’s the subtle magic of Ojo Lagos real estate — it feels within reach.

Of course, we can’t talk about Ojo without mentioning its iconic market — Alaba International Market. It’s not just a market, it’s a city on its own. Electronics, appliances, gadgets, and goods of all kinds — if it plugs, charges, lights up or plays music, Alaba probably has it.

For many residents, living close to Alaba is not just convenient, it’s smart business. Imagine saving transport fare daily while your shop is booming.

That’s not just living, that’s strategic living. And then there’s the presence of Lagos State University — LASU.

The campus draws students, lecturers, and business people from across Nigeria. This means two things: First, it adds to the vibrant life of the community, and second, it feeds the rental economy like well-cooked jollof.

People are renting rooms, apartments, self-cons, and even shared spaces. If you’re an investor reading this, take note. The rental demand in Ojo, especially near LASU and major roads, is not child’s play.

Transport is another thing Ojo handles with surprising ease. From here, you can connect to FESTAC, Mile 2, Badagry, and even the Lagos-Badagry Expressway, which is slowly transforming into a world-class express corridor.

When that road fully hits its prime, let’s just say those who bought land in Ojo early will be smiling like politicians during campaign season. Ojo is also home to a rich mix of people.

There’s the core Lagos crowd, the business-savvy Igbo families, the student population, and a sprinkle of other tribes just doing their thing. It’s a cultural pot that simmers nicely, and somehow, people coexist. If you’re the kind of person who enjoys knowing your neighbor and greeting “Good morning, sir” with a smile, Ojo will feel at home.

Security?

It’s Lagos — we’re always watching our back. But Ojo holds its own. There are community vigilantes, police presence, and a population that looks out for itself. It’s not paradise, but it’s not chaos either.

With more estates springing up and more people investing in fencing, lighting, and organized structures, the environment is gradually evolving into a neater, safer version of itself.Let’s talk environment.

Ojo has water views. Not the fancy Lekki kind, but real water — the kind that reminds you of riverside childhoods, of fresh fish, and simple joys. Places like Iba and Iyana School have a mix of urban and rural beauty that makes for interesting real estate development.

You can literally build a bungalow beside a stream and still get Uber rides to your gate. Where else does that happen?

Then there’s something else — something less tangible but deeply felt. A spirit of growth. Ojo gives people the feeling that life can move forward. That a house isn’t just a roof over your head, but a sign that you’re progressing.

People don’t just live here; they thrive. They build. They plan weddings. They raise children. They retire in homes they built brick by brick.

The Ojo Lagos real estate market is not screaming headlines every day, but the smart ones are paying attention.

Plots of land are getting picked up quietly. Developers are carving out estates. New roads are being graded.

And one day soon, Ojo might just surprise everyone and become the new goldmine people wished they had entered early.

So yes, people like to live in Ojo. And it’s not just because of affordability, accessibility, or community.

It’s also because Ojo allows dreams to grow without choking them. In a city like Lagos where many live in survival mode, Ojo offers the rare chance to actually plan a life.

And if you ask me — or any of the sharp agents that roam that axis with their rolled-up trousers and unbeatable gist — they’ll tell you: If you miss Ojo now, you might be buying back in a few years at twice the price, with half the peace of mind.

Ojo is not just a place. It’s an opportunity. And in Lagos, opportunities like this don’t wait forever.

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Business

Cardoso Urges Banks To Lend Out Idle Funds With CBN * Retains MPR at 26.5%

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso , urged banks from keeping idle funds with the apex bank and encouraging increased lending into the economy.

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

The apex bank retained the Monetary Policy Rate (MPR), also known as benchmark interest rate, at 26. 5 percent.

This decision marks the second consecutive retention of the MPR at 26.5 per cent, following a 50-basis-point reduction in February from 27 per cent.

“The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk,” said Cardoso.

He emphasised that although headline inflation moderated marginally in June 2026, global uncertainties have heightened due mainly to the renewed hostilities in the Middle East.

The MPC also adjusted the asymmetric facilities corridor around the MPR to +50/-450 basis points—a move aimed at discouraging banks from keeping idle fund with CBN.

Furthermore, the committee maintained the Cash Reserve Ratio (CRR) for commercial banks at 45 per cent, retained the rate for merchant banks at 16 per cent, and kept the CRR on non-TSA public-sector deposits at 75 per cent for liquidity management considerations.

Cardoso said despite the global uncertainties, the Nigerian economy has “remained largely resilient to the external shocks”.

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CBN admits it opened domiciliary accounts for PFIPC agency

Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.

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File photo : PFIPC agency DG, Adeniyi Adeyemi

The Central Bank of Nigeria had admitted that it opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC).

The apex bank made the confirmation, yesterday, during the public hearing convened at the National Assembly Complex by the House of Representatives Ad-hoc Committee investigating the existence and operations of the PFIPC, chaired by Yusuf Gagdi and inaugurated by Speaker Tajudeen Abbas.

Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.

He explained that on July 30, 2025, CBN received a mandate dated July 29, 2025 from the Office of the Accountant-General.

“We received the mandate to authorise two accounts, one a US dollar domiciliary account, the other a pound domiciliary account, for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council,” Ibrahim told the committee.

He explained the CBN’s verification process, “The process of opening an account requires a mandate from the Office of the Accountant-General of the Federation.

“Once we receive that mandate, we perform all the necessary verifications to confirm that this mandate is actually coming from that office.

The department that handles the mandate is different from the department that actually does the account opening,” he said.

Nevertheless, he noted that no one came to activate the accounts after they were opened.“We did not receive any correspondence, mandate, signature or mandate cards. We were not introduced to the authorising or approving officers.“Based on that, those accounts remain inactive, with zero balance. There have been no foreign exchange allocations.

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Naira Exchange Rates At The Parallel/ Official Market Tuesday, 21 July

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BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 410 Sell ₦1,415

GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,380.11

GREAT BRITISH POUND (GBP) ₦1,857.35

EURO (EUR) ₦1,575.95

SWISS FRANC (CHF) ₦1,705. 31

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦203.94

WEST AFRICAN CFA (XOF) ₦2.40

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32

SAUDI RIYAL (SAR) ₦367.49

SOUTH AFRICAN RAND (ZAR) ₦83.69

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