The Lagos State Development and Property Corporation noted that the apartments have: “Top quality materials, fixtures and fittings, choice tiles for the floor, granite staircases, mantle floor and wall tiles at ground floor entrance.
The administration of Governor Babajide Sanwo-Olu in Lagos has sparked controversy by unveiling a series of opulent estates specifically designed for billionaires, while seemingly neglecting the pressing need for affordable housing options for the state's impoverished residents.
This startling revelation comes amidst an acute crisis of hunger, poverty, and escalating cost of living that continues to ravage not only Lagos but Nigeria as a whole.
According to documents obtained by SaharaReporters, the Lagos State Development and Property Corporation (LSDPC) has divulged details regarding the lavish features and exorbitant prices of these upscale estates.
The prices range from a staggering N35 million for a one-bedroom apartment to an astonishing N1.5 billion for a four-bedroom apartment, further exacerbating concerns about the government's priorities.
This development has raised questions about the Sanwo-Olu administration's commitment to addressing the housing needs of low-income residents, who struggle to access basic shelter amidst the prevailing economic hardships.
The view of a lot of Lagosians is that government's resources should be allocated towards alleviating the suffering of the most vulnerable members of society.
As revealed in the documents procured by SaharaReporters, one of the luxurious residential developments is situated at the prestigious Bella Vista Tower, strategically located in the exclusive Banana Island enclave within the Ikoyi area of Lagos State. This upscale estate boasts an array of lavish units, specifically comprising three-bedroom and four-bedroom penthouse apartments.
The Lagos State Development and Property Corporation noted that the apartments have: “Top quality materials, fixtures and fittings, choice tiles for the floor, granite staircases, mantle floor and wall tiles at ground floor entrance. The windows are rated with aluminum sliding doors and door at entrance to balcony. There is a general balcony for sit-outs and 3 elevators for each block.
“Ample parking space (2 up and 2 underground), well paved drive ways, world class security features and gadgets in addition to corporate guards, internet and communication ports in each apartment, video enabled intercom facilities, ultra-modern adult and children standard swimming pool, two lawn tennis and a basketball court, squash court, a gymnasium, elevator, 24hrs electricity supply, sewage and water treatment plant, borehole, multi-storey car park, poolside outdoor bar, club house, laundry room, fitted kitchen, standby generator and, amongst others.”
As outlined in the official price list for the luxurious apartments at Bella Vista Tower, the cost of ownership varies depending on the floor location and unit configuration. Specifically: the mid-floor three-bedroom apartments are priced at an impressive N950,000,000.
Similarly, the three-bedroom apartments situated on the 1st and 2nd floors are also valued at N950,000,000.
The ground-floor three-bedroom apartments command a premium price of N1,200,000,000.
Meanwhile, the pinnacle of luxury resides in the penthouse floor four-bedroom apartments, which come with a staggering price tag of N1,500,000,000.
Similarly, Treasure Estate located at Ajiwe, after Lekki Scheme 2, Off Abraham Adesanya Roundabout, Ajah, has one, two and three bedroom apartments and terraces, with: “Round the clock security, surveillance, access control, power supply, and treated water, fitted kitchen, air conditioners, gate house, commercial cornershop, refuse bay, adequate parking area, well planned out drainage system, recreational facilities; playground, gym, swimming pool, well planned out drainage, and more.”
Within the esteemed estate, a diverse range of luxurious residential options is available, catering to various preferences and requirements. The pricing structure for these exclusive abodes is as follows: The spacious three-bedroom terrace, complemented by a convenient Boys' Quarter (BQ), is valued at N80,000,000.
The two-bedroom terrace, also accompanied by a BQ, boasts a price tag of N65,000,000.
For those seeking a more compact yet elegant living space, the two-bedroom flat is available for N55,000,000.
Lastly, the cozy one-bedroom flat offers an attractive entry point into the estate's luxurious lifestyle, priced at N35,000,000.
Garnet Residence (Maisonette & Flats), Sinari Daranijo on Victoria Island, boasts “CCTV Camera; 3 no 6-8 Passenger Lift for 2 Bedroom, Maisonettes and Penthouse; Panoramic Lift for each Terrace & Semi-Detached; Gym; Ample Car Park; Premium Power Supply”
The pricing structure for the luxurious residential units showcases an array of high-end options. At select locations, the following prices prevail: A spacious four-bedroom terrace, complemented by a convenient Boys' Quarter (BQ), commands a premium price of N700 million.
Alternatively, a four-bedroom maisonette, also accompanied by a BQ, is valued at N650 million.
For those seeking the pinnacle of luxury, a four-bedroom apartment situated on the prestigious penthouse floor, complete with a BQ, boasts an unparalleled price tag of N750 million.
Meanwhile, at the esteemed Crown Towers, strategically located on Sinari Daranijo, on Victoria Island, prospective residents can choose from a stylish two-bedroom residence, accompanied by a BQ, priced at N195 million and a spacious three-bedroom abode, also featuring a BQ, valued at N235 million.
For Addy’s Haven, Pelewura in the Apapa area of the state, its features include “Smart Homes, Fully Fitted Kitchen, Solar Power, Ample Parking Space, Good Road Network, Water Treatment Plant, 24hrs Security, CCTV Surveillance, General Sewage System”.
Here, a two-bedroom apartment costs N75 million.
Another posh estate is The Enclave Estate in Okota, Isolo with “24/7 Power Supply; Recreational facilities; Facility Management; 2 Parking Slots per Flat; Street Lighting; Water Supply; 24 Hours Security,” where two-bedroom flat and three-bedroom flats are N45 million and N50 million respectively.
Others are Ilupeju Gardens, Esther Osiyemi Street in Ilupeju where a one-bedroom apartment (53 Sqms) is N78,705,000; one-bedroom penthouse (69 Sqms) is N102,465,000; two-bedroom apartment (89 Sqms) is N120,150,000; three-bedroom apartment (137 Sqms) is N184,950,000, and four-bedroom maisonette (180 Sqms) is N243,000,000.
Davila Court, Ogudu GRA Phase 2, Ogudu boasts “Swimming Pool; Gym; 24/7 Power Supply; Assured 24/7 Security Surveillance; Constant Availability of Janitorial and Concierge Services; CCTV and Intrusion Alert System; IPTV (Internet Protocol Telecommunication System}; Video Phone System; Home Automation Features; E – Tag System for Streamlined Vehicle Entry and Exit; Comprehensive Fire Prevention, Detection and Elimination System”.
In the estate, a four-bedroom terrace + BQ is N156 million for semi-finished apartments and N199 million for finished apartments; N140 million for semi-finished three-bedroom and N162 million for finished apartment; N93 million for a semi-finished two bedroom and N107 million finished apartment and N46 million for semi-finished one bedroom and N54 million for finished apartments.
Located in the prestigious Toll Height, Ogudu GRA Phase 2, Ogudu, lies an exclusive residential enclave boasting an array of opulent amenities and facilities. This luxurious development caters to the discerning tastes of affluent individuals, offering an unparalleled living experience.
Some of the notable features of this esteemed address include: An expansive parking facility, expertly designed to accommodate up to 393 vehicles, ensuring seamless accessibility and convenience for residents.
The residential options within this upscale community are priced as follows: A stylish one-bedroom studio apartment, perfect for the sophisticated individual, is valued at N75,000,000; a spacious two-bedroom flat, ideal for growing families or professionals, commands a price of N135,000,000 and a luxurious three-bedroom flat, offering the epitome of comfort and elegance, boasts a price tag of N170,000,000.
Mangrove Estate, Ogudu GRA Phase 2 boasts facilities that include: “Recreational Area, Sewage Treatment, Water Treatment, 3 Car parks per unit, 24/7 Security, 24 hours electricity supply,” where four-bedroom terrace + BQ is N200 million; four-bedroom maisonette + BQ is N170 million, while prices for one and two-bedroom penthouse respectively is “to be determined.”
In November 2023, Governor Sanwo-Olu disclosed that his administration has, in less than five years, provided over 3,000 homes for the residents.
He assured that efforts were in progress to reduce the 17 million housing deficit in the state.
The governor made this known at the Conference of Directors of Lands in the Federal and State Ministries, Departments and Agencies.
Checks by SaharaReporters revealed that the apartments in these estates come with hefty price tags, running into millions of naira. This places them far beyond the reach of civil servants in Nigeria, who until recently, struggled to make ends meet on the meager N30,000 minimum wage.
Even the recent signing into law of a new N70,000 minimum wage will hardly offer any relief considering the recent hikes in fuel prices and soaring inflation. The exorbitant costs of these apartments underscore the stark disparity between the housing options provided by the government and the economic reality faced by ordinary citizens.
In stark contrast to the current luxury-focused housing developments, the leadership of former Lagos State Governor, Lateef Kayode Jakande, left an enduring legacy during his tenure from October 1, 1979, to December 31, 1983.
Governor Jakande's administration undertook an ambitious housing program, resulting in the construction of over 30,000 affordable housing units specifically designed for the benefit of Lagosians.
Notable examples of these low-cost estates include: Amuwo-Odofin Estate, Ijaiye Estate, Dolphin Estate, Oke-Afa Estate, Ije Estate, Abesan Estate, Iponri Estate, Ipaja Estate, Abule Nla Estate, Epe Estate, Anikantamo Estate, Surulere Estate, Iba Estate, Ikorodu Estate and Badagry Estate.
Regrettably, the current focus on luxury developments diverges sharply from the campaign promises of the ruling All Progressives Congress (APC), which holds power at the national level. The APC's platform emphasized the importance of affordable housing and social welfare programs, highlighting the need for inclusive development that benefits all segments of society. However, the party has failed to achieve this, including at the national level.
This striking disparity between past achievements and present priorities raises essential questions about the government's commitment to social responsibility and its obligation to ensure that the basic needs of all citizens are met.
One year and three months into President Bola Tinubu's tenure, the administration's campaign promises remain unfulfilled, leaving Nigerians disillusioned and frustrated. Instead of witnessing transformative change, the country has been plagued by widespread suffering, as citizens take to the streets to protest and lament the crippling effects of acute hunger and poverty, soaring cost of living, exorbitant fuel prices, with pump prices skyrocketing to as high as N895 and rampant bad governance, which has become a cancerous affliction on the nation.
The stark disparity between the promised reforms and the harsh reality has sparked widespread discontent, eroding public trust and fueling nationwide demonstrations.
When contacted, Gbenga Akosile, Special Adviser, Media and Publicity to Governor Sanwo-Olu said the expensive estates are built and managed by LSDPC, which according to him, is more or less a private business entity of the government that operates based on market forces.
He said the state government however has about 18 housing units across different locations in the state for low- and medium-income earners with prices ranging from N10 million to N30 million for one-off buyout.
He said, "The government cares about the average people. Banana Island and those other big places is not even for someone like me. Even the commissioner cannot afford there. But for the ones the government has for average people, the price range is between N10 million and N30 million depending on location.
"I know that there are some of N10 million, N12 million, N17 million, N30 million, which could be two-bedroom, one-bedroom and three-bedroom. Also, we have in Igando, Ikorodu, Sangotedo, and Agege, and those are if you are paying outright. But I know there are also arrangements for people to pay in installment.
"There is what we call rent-to-own. They are to be rented but ultimately, they become yours after a number of years, like 10 years. You rent it and after 10 years, you must have finished paying up, you will then collect your discharge certificate from the government and it becomes fully yours.
"In terms of renting, I know that some people pay as low as N500,000."
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