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Why You Should Explore Property Options in Ajah, Lagos State by Dennis Isong

Major projects like the Lekki F⁸ree Trade Zone, the Dangote Refinery, and the proposed Lekki International Airport are also nearby.

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If you’re thinking about buying land or a home in Lagos, Ajah should be on your radar.

It’s one of the few places in Lagos where you can still get good value for money without sacrificing accessibility and modern comforts.

Whether you’re an investor, a first-time buyer, or just looking for a place to call home, Ajah has a lot to offer.

1. Affordable Compared to Other Prime Lagos Areas Buying property in Ikoyi or Victoria Island is like trying to buy a plot on the moon—very expensive.

Even Lekki Phase 1 is getting out of reach for many buyers. But Ajah? Ajah is still relatively affordable. You can get a decent plot of land in Ajah at a fraction of the price of similar land in Lekki. And the best part?

Ajah is growing fast. So, buying now means you’ll enjoy significant appreciation in the coming years.

2. Strategic Location

Ajah sits between the busy Lekki Phase 1 and the fast-growing Ibeju-Lekki. This means you’re close to major business hubs without being stuck in the thick of the congestion.

The area is well-connected by the Lekki-Epe Expressway, making it easy to move around. Whether you work on the Island or have business in Lagos Mainland, Ajah gives you access to both sides without too much hassle.

3. Growing Infrastructure

Ajah is developing rapidly, and property prices are rising. If you buy land or a house now, you’ll likely sell it at a much higher price in a few years.

A few years ago, Ajah was mostly waterlogged and difficult to navigate. But today, things have changed. Roads are being fixed, drainage systems are improving, and there’s better power supply in many parts.

Major projects like the Lekki F⁸ree Trade Zone, the Dangote Refinery, and the proposed Lekki International Airport are also nearby.

These developments will boost property value and make Ajah an even more attractive place to live and invest in.

4. Wide Range of Property Options

Whether you want the land to be built from scratch or a finished apartment, Ajah has something for you. From affordable mini-flats to luxurious duplexes in estates, you’ll find properties that suit your budget and lifestyle.

Many developers in Ajah offer flexible payment plans, making it easier for buyers to own property without breaking the bank. If you can’t pay all at once, installment plans are often available.

5. Perfect for Family Living If you have a family or are planning to start one, Ajah is a great place to consider.

It’s quieter than many parts of Lagos, with less noise and pollution. Many estates in Ajah come with security, good roads, and access to schools, supermarkets, and hospitals.

Schools like Caleb British International School and Green Springs School provide top-quality education, so you don’t have to worry about sending your kids far away for good schooling.

6. A Hub for Business and Investment

Ajah is not just for residential living. If you’re a business-minded person, you’ll love the opportunities here. Shops, supermarkets, hotels, and offices are springing up daily.

With more people moving in, businesses in Ajah are thriving.

If you’re an investor, rental income is promising here. Many people who work in Lekki and Victoria Island prefer to rent in Ajah because it’s more affordable. This makes it a great spot for buy-to-let investments.

7. Estates Everywhere

If security and community living are important to you, you’ll love the estate options in Ajah.

Popular estates like Abraham Adesanya Estate, Crown Estate, and Royal Gardens offer modern living with good security and amenities.

Living in an estate means you don’t have to worry about bad roads, unreliable power supply, or water issues—things that can be a problem in other parts of Lagos.

8. Future Appreciation

Ajah is developing rapidly, and property prices are rising. If you buy land or a house now, you’ll likely sell it at a much higher price in a few years.

With the ongoing expansion of the Lekki-Epe Expressway and the development of new estates and business hubs, property value in Ajah will only go up. If you want to invest in a place with high returns, Ajah is a smart choice.  

How to Get Started with Buying Property in Ajah

If you’re convinced that Ajah is a good place to buy property, the next step is knowing how to go about it. Buying property in Lagos can be tricky if you’re not careful, so here are some tips to guide you:

1. Work with a Trusted Real Estate Agent

Not all land or houses in Ajah are genuine. Some properties have issues like land disputes, double allocation, or fake documents.

That’s why you need a reliable real estate expert who knows the area well. An experienced agent will help you find the right property, verify the ownership, and guide you through the buying process.

2. Do a Proper Land Search

Before paying for any land or house, make sure you check its legal status. Visit the Lagos State Land Bureau to confirm if the land has proper documentation and isn’t under government acquisition.

For houses, ensure the title documents (Certificate of Occupancy, Governor’s Consent, Deed of Assignment, etc.) are authentic. Don’t rely on what the seller tells you—verify!

3. Consider an Estate Property If you don’t want to stress about land verification and legal issues, buying in a registered estate is a safer option.

Estate developers usually provide proper documentation, making it easier for buyers to secure their investment. Some well-known estates in Ajah include:

●      Abraham Adesanya Estate (Great for family living)

●      Crown Estate (Luxury and comfort)

●      Royal Gardens Estate (Well-planned and secure)

●      Lafiaji Estate (Close to Lekki and affordable) These estates offer good security, steady electricity, and modern facilities, making them a smart choice for both living and investment.

4. Think Long-Term

Ajah is still growing, so don’t just look at its present state—think of the future. If you buy land in an area that looks undeveloped today, it could be worth millions in a few years.

For example, some parts of Ibeju-Lekki, which were once considered too far, are now in high demand because of projects like the Lekki Free Trade Zone and Dangote Refinery.

So, if your budget is small, don’t be afraid to buy in the outskirts of Ajah. Development will catch up soon, and your property value will appreciate.

5. Negotiate and Compare Prices Property prices in Ajah vary depending on location, estate, and seller. Before making a payment, compare prices in different areas.

Don’t just settle for the first option you see—there’s always room for negotiation. A professional real estate agent can help you get the best deal without overpaying.

6. Have a Budget Beyond Just Buying the Property Many people forget that buying property comes with extra costs.

Apart from the purchase price, you may need to budget for: ●      Legal fees (to process your documents) ●      Survey and land registration ●      Development fees (if buying in an estate) ●      Building costs (if you’re buying land to develop later)

Understanding these costs will help you plan better and avoid surprises.

Ajah is one of the few places in Lagos where you can still find affordable property with great future potential.

As development continues, prices will keep rising, and opportunities will become limited. If you’ve been thinking about buying property in Lagos, Ajah is a smart place to invest.

Whether you’re looking for land, a house, or rental property, there’s something for everyone.

But don’t wait too long—the best time to buy property in Ajah is now!  

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Naira Exchange Rates Wednesday, July 22 

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BLACK MARKET RATES  

US DOLLAR (USD) Buy ₦1,408 Sell  ₦1,413 

GREAT BRITISH POUND (GBP) Buy ₦1,885 Sell: ₦1,905 

EURO (EUR) Buy ₦1,585Sell ₦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 

Official CBN Exchange Rates 

US DOLLAR (USD) ₦1,375. 31 

GREAT BRITISH POUND (GBP) ₦1,841. 13 

EURO (EUR) ₦1,569.78. 

SWISS FRANC (CHF) ₦1,694.98 

JAPANESE YEN (JPN) ₦8.45 

CHINESE YUAN (CNY) ₦203. 25 

WEST AFRICAN CFA (XOF) ₦2.40 

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

SAUDI RIYAL (SAR) ₦366.36 SOUTH AFRICAN RAND (ZAR) ₦83.50

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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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