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Current Cost Of Land In Lagos & Abuja (Updated Prices, 2025)

As of February 2025, the real estate markets in Lagos and Abuja, Nigeria's two most prominent cities, continue to exhibit dynamic trends influenced by urbanization, infrastructural developments, and economic factors. Understanding the current cost of land in these cities is crucial for investors, developers, and prospective homeowners aiming to make informed decisions.

Lagos: The Commercial Hub

Lagos, renowned as Nigeria's commercial epicenter, boasts a diverse real estate landscape. The cost of land in Lagos varies significantly based on location, accessibility, infrastructure, and the area's developmental stage.

• Average Land Prices: The average price of land for sale in Lagos is approximately ₦120,000,000. However, prices can range from as low as ₦500,000 in emerging areas to as high as ₦10,500,000,000 in prime locations. 
• Residential Land: For residential purposes, the average price is around ₦75,000,000, with a spectrum ranging from ₦500,000 to ₦4,000,000,000, depending on the locality and amenities available. 
• Notable Listings:
  • A 900 square meter plot in Lekki Phase 1 is listed at ₦900,000,000.
  • A 315 square meter residential land in Oyadiran Estate, Sabo, Yaba, is available for ₦100,000,000.
  • A 1,500 square meter land off CMD Road, Magodo Estate, GRA Phase 2, is priced at ₦500,000,000.

Factors Influencing Land Prices in Lagos:

1. Location: Areas like Ikoyi, Victoria Island, and Lekki command higher prices due to their prime locations and developed infrastructure.
2. Infrastructure Development: Ongoing projects, such as the expansion of the Lagos-Ibadan Expressway and the construction of the Fourth Mainland Bridge, are enhancing connectivity and accessibility, thereby increasing land values in adjacent areas.
3. Urbanization and Population Growth: The continuous influx of people into Lagos for economic opportunities escalates the demand for land, leading to price appreciation.
4. Economic Factors: Inflation and the overall economic climate play pivotal roles in determining land prices, influencing both construction costs and purchasing power.

Abuja: The Administrative Capital

Abuja, Nigeria's capital city, is characterized by organized urban planning and expansive spaces. Land prices here are influenced by proximity to the city center, infrastructural developments, and the exclusivity of neighborhoods.

• Average Land Prices: The average price of land for sale in Abuja stands at approximately ₦300,000,000, with prices spanning from ₦1,500,000 in peripheral areas to ₦45,000,000,000 in central districts. 
• Residential Land: The average price for residential land is about ₦50,000,000, with listings ranging from ₦700,000 to ₦1,000,000,000, contingent on the area's development and amenities. 
• Notable Listings:
  • A 14-hectare residential plot in Kyami is listed at ₦6,500,000,000.
  • A 5,000 square meter commercial land in the Central Business District is available for ₦3,100,000,000.
  • A 700 square meter residential plot in Durumi is priced at ₦190,000,000.

Factors Influencing Land Prices in Abuja:

1. Infrastructure Development: Government projects aimed at enhancing infrastructure, such as the Abuja/Kaduna/Zaria/Kano road rehabilitation, are making the city more appealing, thereby influencing land prices. 
2. Government Policies: Policies promoting investment and development in specific areas can lead to increased land values.
3. Security and Serenity: Abuja's reputation for security and organized urban planning makes it attractive to investors and residents, sustaining demand for land.

Comparative Analysis: Lagos vs. Abuja

While both cities exhibit dynamic real estate markets, Lagos generally presents higher land prices, especially in commercial hubs and waterfront areas. Abuja offers relatively more affordable options, with prices escalating in central and well-developed districts.

Investment Considerations

For potential investors and buyers:

• Due Diligence: Engage in thorough research or consult reputable real estate agents to understand the market dynamics and ensure the authenticity of land titles.
• Purpose of Purchase: Clarify whether the land is intended for residential, commercial, or speculative purposes, as this will influence location and budget considerations.
• Future Developments: Stay informed about upcoming infrastructural projects or government policies that could impact land values.

Conclusion

The land markets in Lagos and Abuja in 2025 are shaped by a confluence of factors, including infrastructural developments, economic conditions, and urbanization trends. Prospective buyers and investors should conduct comprehensive research and consider engaging with local real estate professionals to navigate these dynamic markets effectively.

For a more in-depth analysis of the Lagos real estate market in 2025, you might find the following video insightful