By Arinze Uzo
Business News Correspondent
A new report has revealed a dramatic surge in land prices within Eko Atlantic City, Lagos, with the cost of a single plot now exceeding ₦2 billion. The increase underscores the area’s growing status as Nigeria’s most premium real estate zone, catering to high-net-worth individuals, multinational corporations, and luxury developers.
According to data from top real estate firms operating in the area, demand for land in Eko Atlantic has been on a steady rise over the past two years. However, 2025 has marked a new record, with average plot prices crossing the ₦2 billion threshold—a 30–40% increase compared to prices recorded just 18 months ago.
Eko Atlantic, often referred to as Africa’s answer to Dubai, is a privately funded, government-backed mega-city project built on reclaimed land from the Atlantic Ocean. Designed to be a hub of luxury living and financial services, it boasts cutting-edge infrastructure, 24/7 power supply, ultra-modern drainage systems, high-rise towers, and beachfront access. These features have positioned it as the most exclusive address in West Africa.
Industry experts attribute the recent price surge to a combination of limited availability, increased foreign investment interest, and the perceived safety and prestige of owning property within the city. With its proximity to Victoria Island and Lekki, Eko Atlantic offers a rare blend of commercial and residential appeal in a secure, organized setting.
Real estate analyst Bolaji Adebayo of Mainland Realty explained, “The current demand is being driven by investors who see Eko Atlantic as a stable hedge against inflation and currency devaluation. It’s not just a property—it’s a status symbol.”
The rising prices have also been linked to renewed interest in Lagos’ luxury property market, following recent infrastructural improvements such as the opening of the Lekki Deep Sea Port, enhanced road networks, and the Lagos Blue Line Rail.
However, the surge has also reignited concerns about the affordability crisis in Lagos. Critics argue that the focus on ultra-high-end real estate leaves middle and lower-income Lagosians further marginalized in their search for housing. While Eko Atlantic’s vision is to offer a world-class city, housing advocates warn that the state must simultaneously address the growing slums and housing deficit facing the majority of its residents.
Despite these concerns, developers and investors appear undeterred. New towers, shopping plazas, embassies, and private residences are springing up across the cityscape, indicating that confidence in Eko Atlantic’s long-term potential remains strong.
As Nigeria’s real estate market continues to evolve, Eko Atlantic stands as a bold symbol of ambition—and exclusivity. With plot prices now crossing the ₦2 billion mark, it is clear the city has cemented its place at the pinnacle of West African luxury real estate.
