The Federal Executive Council, chaired by president Umaru Yar'Adua has on wednesday 15th of april approved the Reconstruction,Expansion, and Mordernisation of the Lagos-Ibadan expressway to international standard through a 25years concessioning agreement between the federal govt and Messrs Bi-Courtney Consortium (also handling the terminal 1 project of Murtala Muhammed Airport).

Other facility to be provided to achieve the new look Lagos/Ibadan expressway includes an increase in the number of lanes (four on each side from lagos to sagamu interchange), electronic traffic controls,highway lighting between 7pm and 6am powered by a gas-fired plant,pedestrian overhead bridges,trailerparks,clinic and emergency ambulaces,round the clock security anomg others.

Now we all know what this new development coupled with the Mega City drive of Gov Raji fashola would bring to areas along these axis,certainly a gradual rise in prices of properties along these location should be expected in no time as soon as these projects begins.You just imagine the rush this axis would get from companies and industries that are in need of space for expansion (leventis is a good example).

So to you guys waiting for a drop in price of properties along the lagos/ibadan axis before you buy,well,  i don't see that coming,  we all know real estate is one market where demand would always outstrip supply on existing properties, cause there would always be an ever increasing population and need for expansion(especially for areas at close proximity to business districts like lagos).You need to see the way people are relocating to these areas lately.Don't expect price crash at or around locations where there is inadequate plans on housing to cater for rapid increase in population.

Really i believe this is the right time for anyone interested in the lagos/ibadan axis to purchase, Reason?, prices are still low and this is the time you get to buy properties that are not too distant from the expressway, imagine what this axis would look like say, by 2011!!!Presently you can hardly find vacant plots along the road connecting these areas, so if you are still out there WAITING, well, happy waiting  because you will finally end up paying huge amounts for plots at locations where you will have to drive several kilometres to reach,

SO HURRY WHILE STOCKS LAST!!!

This is absolutely correct
I hadnt quite thought of the implication of the road expansion in that light

Thanks for this insight.
I already own a number of properties along that axis. Maybe I grab some more

Shagati

@Ayo
your source please

the punch newspaper thursday april 16,2009 page 2