It’s simple and obvious; Ibeju-Lekki is the chosen location for mega government and private projects which are already undergoing construction. Amidst these massive projects, The Free Trade Zone, Deep sea Port, Dangote $9b Refinery/Petrochemical Industry and the New International Airport are prominent. There are several other projects that cannot be mentioned now which are upcoming in this acclaimed axis of Lagos. As an illustration, Dangote has confirmed that he would not invest that colossal sum of money and not ensure his company goes to work to make this a success, thereby causing phenomenal development and land value appreciation in the area.

In the year 2000/2002, a plot of land in Lekki Pase 1, then called Maroko was about N500,000/N1m. Today, a plot of land in Lekki Phase 1 is about N100m. A plot of land which sold for about N100,000 in Ajah then sells for N15m today. This is about a whopping 15,000% ROI (Return on Investment). The Lekki-Ajah area has witnessed a cyclopean increase in both population density and land value appreciation. Now, people are moving beyond Lekki-Ajah to Ibeju-Lekki. The current increase in population and land appreciation in the adjoining Ibeju-Lekki in towns like Sangotedo, Abijo, Awoyaya, Lakowe, Bogije, Eleko, Eleko Inside-Coastal Road, Onosa, Ibeju Town and Eleranigbe is of no doubt remarkable.

Leave your comment