Sometime ago, I remember listening to someone wishing that she could bring land from her village to Lagos to build on due to the astronomical costs of genuine lands in Lagos. Well, no need to lament or wish, I have looked around Lagos and searched for different areas that genuine lands are available and affordable. This article is an exposé on available real estate opportunities which may be invested in by interested persons. However, I must warn that these are not in the heart of Lagos as they basically are on the outskirts of Lagos as well as border towns between Lagos and Ogun states. These places possess great economic prospects in the nearest future.

A relation of mine bought some acres of land at one of these areas of Ogun state for his farm project sometime in 2010. Back then, it was largely undeveloped as he bought it at the rate of Three Hundred Thousand Naira per Acre. Just recently, he informed me that he had gotten offers from interested purchasers to buy those same lands at 1 Million Naira per plot. Since an Acre consists of six plots, he would be selling at 6 Million Naira per Acre which amounts to about 2,000% profit.
Also, I have a client outside the country who bought an acre of land somewhere around MFM area in Ogun State for 600k in 2006. Today, land in that area sells for above 10M per plot.

I’m going to list certain areas of Lagos and Ogun State that land can still be bought for low prices presently, but hold great promise in the nearest future. The listing is done randomly, not in order of importance or prospects.

1. Badagry
An old slave-port with a new light rail system and Sea Port, Badagry has seen property prices skyrocket in the last few years. Also, with the expansion of the expressway and the new ferry system by the Lagos State Government in the works, land owners in that area are in for mega development. There are several areas of Badagry where land can still be bought for less than a Million Naira per plot. Prices of these lands are sure to multiply their present prices when the expressway is completed.

2. Agbara
An investor’s paradise, the Agbara Industrial Estate is located in Ogun State on the way to Badagry. The Agbara Industrial Estate is located here and houses many factories belonging to Unilever, Nestle, GSK, Beloxxi, P&G, etc. However, there is a huge boom in private residences in the non-industrial area of Agbara. The expansion of the Badagry express has also increased the prices of property in this area. However, the good news is that landsin certain areas of Agbara still sell for far less than a Million Naira per plot.

3. Atan/Igbesa Axis
This is the area after Canaanland road in Ota and it holds great economic promise. There is a road linking this area to Agbara and then to Lagos. Despite its distance from Lagos State, development has already reached this area and its surroundings due to its proximity to Lagos. Igbesa is home to Crawford University, and areas such as Atan, Lusada and Igbesa still have low-priced land sales. However, things are changing fast and smart buyers are already investing in this area.

4. Agbowa/Imota
Extremely profitable and of great prospects, this area houses the new Lagos State Housing Estate. Lots of private estates have bought vast lands in this area hoping to sell at increased prices and some are indeed already selling to subscribers. It is located at Ikorodu axis and it holds great prospects for investors.

As for Imota, a few years ago, no one knew whether Imota was a delicacy, a type of clothing or a place. However, since Caleb University was established there, all that changed. This is one of the potential hotspots in Lagos. It is located close to Epe but it is marketed as part of Ikorodu. Parcels of land here are still very much affordable and cost about half a Million Naira per plot.

5. Igbekodo/Siriwon Area
This is located along the Lekki-Epe Expressway. This area is one of the most promising areas of the places on this list due to the secure title it possesses (Lagos State Government Gazette) as well as the fact that it is located close to the 21-hole golf course and also the Lekki Freee Trade Zone. It presently sells for around a million naira per plot and it holds great economic prospects.

6. Ogijo
This is located on the road leading to Sagamu after Ikorodu. It is a boundary-town on the Ogun State side of Lagos and Ogun States, but lots of inhabitants of this area work in Lagos. It is very close to Ikorodu Industrial Area with many factories and firms located there. The area is also linked by road to Simawa by the new RCCG auditorium and hence to Lagos-Ibadan Expressway. The benefit in this area is that the newly-completed Ikorodu Expressway has made it easier for residents of this location to commute to and from their places of work.

7. Epe
Since the early 1990s when Maroko changed to Lekki, there has been an unending chain of development in this area. Presently, there is presently massive infrastructural development in the area due to the proposed International Airport, Lekki Free Trade Zone, proposed Dangote Refinery and others. As time goes on, this chain would also extend to Epe. Presently, there are affordable plots in some areas of Epe that sell for less than a Million Naira.

8. Simawa
Simawa was once a sleepy town but since RCCG announced their intention to build a mega auditorium there, the sleepy town ‘open eye sharply!’ Simawa is located behind the Redemption Camp, but the access road is just beside the Camp. There are lots of Private Estates selling land there priced above 1 Million Naira, but interested purchasers can still attempt to meet with the traditional landowners to buy at reduced prices around a Million Naira.

9. Ifo/Ibogun/Papalanto Axis
A few years ago, this area was virtually unknown. In fact, when the Ibogun Campus of the Olabisi Onabanjo University was established a few years ago, land there cost less than peanuts but today, and acres there cost millions. However, there are still areas where plots of land cost far less than a Million Naira and prices are still rising as at the time of writing this.

10. Sagamu Interchange/ Siun Axis
I actually stumbled on this silent goldmine by chance. Well, this area is located in Ogun State along the new Nestle Factory by the Sagamu Interchange on Lagos-Ibadan Expressway. The wonderful thing about this area is that the on-going repairs of the Lagos-Ibadan expressway have reached the Sagamu Interchange. Thus, the area is just waiting for Julius Berger to pack their equipment off the road before land prices skyrocket. The killer punch about this area is the rock-bottom prices. Presently, land here sells for around 1.5 million Naira per acre. Lots of Individual investors, Private Estates and Cooperative Societies are silently buying into it hoping to sell for killer profits in a short while.

I took the pain to research into these places and come up with this article in order to offer an opportunity to invest in the real estate sector. From the above, there is something for every pocket and they are as affordable as can be. After reading this list, kindly save the page or bookmark it because you definitely would remember and refer to it in a few years from now.

Remember, it is only in Lagos you see a tenant driving a better car than his landlord but prostrating for the landlord every January.