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Summary of Land Ownership in Lagos, Nigeria

Summary of Land Ownership in Lagos, Nigeria

Al Mahmud 456 12-Feb-2020

A land is a solid piece of the uppermost part of the earth, having no structure or buildings on it. A land is a reservoir of natural resources ranging from crude oil to coal to gold and the list goes on and on. The value of land increases when there is a high demand for it or if the land is embedded with natural resources.

Before now, people owned vast land for the purpose of agriculture as a means of livelihood. The era of agriculture began to fade away as the demand for lands to build residential and commercial edifice got to a high increase.

In Lagos, lands are not readily available because Lagos is a crowded area and with a high demand for residential buildings. The availability of land for sale in well developed areas of Lagos like Ikeja, Surulere, Yaba and Ojuelegba may not be possible but in most cases, we have developers who buy old buildings, demolish them and build another to suit their taste and style. Available virgin lands are only obtainable in areas like Ikorodu, Epe, Ayobo and Ipaja which is on the outskirt of Lagos.

Lands for sale in Lagos Island is on a high price than getting lands for sale in Lagos Mainland. Lands for sale in Lagos, Nigeria value up from N1, 700,000 to N80, 000,000 depending on the location of the land.

Updated 12-Feb-2020
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