NAIRAMETRICS
Nigeria is one of the largest economies in Africa and has produced some of the wealthiest individuals on the continent. The country’s rich cultural heritage and abundant natural resources have attracted both local and foreign investors.
As a result, Nigeria is home to a number of billionaires and millionaires who own properties in some of the most exclusive neighborhoods in the country.
The Nigerian city is among African metropolises that have seen some of the highest growth in the number of millionaires on the continent.
In this article, we will explore some of the places where the richest people in Nigeria live.
Banana Island, Lagos State: Banana Island is a man-made island located in Lagos State, and it is regarded as the most affluent area in Nigeria. It is a billionaires’ paradise populated by the country’s richest and most well-known families, who savor its quiet, peaceful atmosphere far from the clamor and crowds of Lagos, the country’s largest city and financial center.
The cost of land in Banana Island is astronomical, with the average cost of a square meter of land in this area ranging from N1.3 million to N5 million. A 500-square-meter plot of land in Banana Island can cost upwards of N650 million.
Ikoyi, Lagos: Ikoyi is another affluent area in Lagos State, and it is home to many wealthy individuals and expatriates. The area is known for its high-end real estate, fine-dining restaurants, and luxury hotels. Some of the wealthiest individuals reside in Ikoyi.
The average cost of land in Ikoyi is also very high, with a square meter of land in this area costing between N1.1 million to N2 million. A 500-square-meter plot of land in Ikoyi can cost upwards of N575 million.
Asokoro, Abuja: The Asokoro area is an attractive, highly developed phase 1 district in the Federal Capital Territory (FCT) Abuja. It is an exclusive, upper-class neighborhood that houses many important local and international institutions.
Embassies and state house lodges are scattered all around the neighborhood. Nigeria’s Presidential complex known as “Aso Villa” and the Economic Community of West African States (ECOWAS) Secretariat are both found in the district.
The cost of land in Asokoro is also high, with a square meter of land in this area ranging from N180 thousand to N1 million. A 500-square-meter plot of land in Asokoro can cost upwards of N90 million.
Maitama, Abuja: The Maitama district is a leafy Abuja phase 1 area located directly to the north of the Abuja city center. It is highly developed and is one of the most sought-after neighborhoods in Nigeria along with Asokoro. Accordingly, it plays host to plenty of the country’s wealthiest individuals.
Some of Abuja’s best shops, restaurants, and clubs can be discovered in the neighborhood. Many prominent landmarks are also in Maitama’s vicinity, including Millennium Park and the IBB Golf Club. Others include the well-known Farmers Market, the Amusement Park, and Traffic Bar. The area enjoys excellent infrastructure and can be described as a playground for the rich and famous.
Many of Nigeria’s luxurious 5-star hotels, including Transcorp Hilton Abuja, are sited here. Various international establishments also have offices in the district, such as the British Council. A number of foreign embassies are similarly located in the area.
The average cost of land in Maitama is also very high, with a square meter of land in this area ranging from N300,000 to N1.5 million. A 500-square-meter plot of land in Maitama can cost upwards of N199 million.
