Lagos State’s recurrent development: outer cities get closer to the Metropolis

A variety of infrastructural developments in areas of Lagos State are gradually hitting a peak with their completion dates being even much closer than before. Typical examples would include the construction of flyovers for the Lekki-Epe expressway and the Lagos-Abeokuta expressway residents of the State. Each of these flyovers are now almost completed and expected to de-congest the tumultuous traffic jams that are usually experienced along those roads.

The press release by through the State Commissioner for Information & Strategy also said the following.

“The upgrade of Freedom Road is expected to ease traffic considerably for vehicles using the Third Roundabout to connect Lekki through Admiralty Way. While the Ajah project will ease movement of residents and commuters on the Lagos Island-Ibeju Lekki areas, the construction of the reinforced concrete dual-carriage flyover bridge at Abule Egba junction will equally bring joy and relief to millions of commuters that use the Lagos-Abeokuta Expressway in Ifako-Ijaye Local Government Area of the State on a daily basis when completed. Like the Ajah project, Ayorinde said the Abule Egba flyover will also have signalised intersection under it to service Oko-Oba and other link roads within the axis.”

Key solution of these developments is that it provides easier access from the Metropolis to what was originally known as the outer-city areas. Thus also enabling for investment, migration and cross-transportation of people, goods and services for daily sustainability.

Opportunities derived from Infrastructural developments like these include the opportunity for the natural resources in those areas to get richer – land for example.

In 1994, Maroko (Lekki Phase 1) was selling for N400,000 per plot but now, this cost can be as high as N60,000,000- what brought about this? Development of the area and its access routes from Victoria Island most especially – it became an area of focus for ‘expansion’ and resettlement for people who were looking; so also was Victoria Garden City.

In 2015, Ibeju-Lekki lands were selling for as low as N450,000 but today, you can barely get a viable plot for less than N1,000,000 (barring all incidences of omo-onile issues)

cheap land in ibeju-lekki, lerato and adams, buy land in lagos, ROI for real estate in Lagos, nairaland, adverts,
Snap shot of a Real estate ad on Naira land for land sales in 2015

Today, Lekki and VGC are prime locations and sold at a premium – simply because development has extended there, the land owners in that axis are considered ‘Class A’ citizens – always smiling to the Bank.

What’s your excuse? If you missed out on the opportunity then – grab it now!!

Stay tuned for options on how to become a proud land owner this Workers Day

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